Big Figure

DEFINITION of 'Big Figure'

The stem, or whole dollar price, of a price quote. The term "big figure" is most often used in international currency markets, where it is often abbreviated to "big fig." In the U.S., big figure is also referred to as the "handle." The big figure is generally omitted when traders provide quotations in very fast-paced markets, such as the interbank currency market, because the assumption is that it is common knowledge and does not need to be specified.

BREAKING DOWN 'Big Figure'

For example, assume that the Japanese yen is trading versus the US dollar in the interbank spot market at 85.50 (bid) / 85.55 (offered). While the big figure here is 85, interbank traders will quote the price as 50 / 55.


While omitting the big figure is accepted practice in interbank and institutional markets, it is seldom done when dealing with retail investors. Even in the interbank markets, traders may need clarification on the big figure in cases where the exchange rate is moving very rapidly, as for instance, during currency intervention by central banks. The big figure may also need to be clarified when the exchange rate approaches round numbers, such as 86.00 yen or 1.3500 euros to the US dollar.

RELATED TERMS
  1. Interbank Market

    The financial system and trading of currencies among banks and ...
  2. Interbank Call Money Market

    A short-term money market, which allows for large financial institutions, ...
  3. Euro Overnight Index Average - ...

    The weighted average of overnight Euro Interbank Offer Rates ...
  4. Hong Kong Interbank Offer Rate ...

    An interest rate stated in Hong Kong dollars on the lending and ...
  5. Stockholm Interbank Offered Rate ...

    The official interbank offer rate for short term loans in Sweden. ...
  6. Reverse Floater

    A floating-rate note in which the coupon rises when the underlying ...
Related Articles
  1. Trading

    The Foreign Exchange Interbank Market

    Can your forex broker offer you the most competitive pricing? Learn how the market's biggest players affect you.
  2. Trading

    Forex Trading: A Beginner's Guide

    Learn about the forex market and some beginner trading strategies to get started.
  3. Entrepreneurship & Small Business

    This Retailer Just Raised Guidance (BIG)

    Not many retailers are raising guidance. This is one exception.
  4. Trading

    Make The Currency Cross Your Boss

    Tap into a world of possibilities by going beyond the simple pro- or anti-dollar trade.
  5. Trading

    Understanding The Spread in Retail Currency Exchange Rates

    Understanding how exchange rates are calculated and shopping around for the best rates may mitigate the effect of wide spreads in the retail forex market.
  6. Trading

    Taking Advantage Of Central Bank Interventions

    These interventions provide great opportunities for investors and traders to seize entries into longer-term trends.
  7. Trading

    Drastic Currency Changes: What's The Cause?

    Currency fluctuations often defy logic. Learn the trends and factors that result in these movements.
  8. Trading

    Popular Forex Currencies

    Learn about the most traded currencies and the strategies used to trade them.
  9. Markets

    Forex Tutorial: Forex History and Market Participants

    Given the global nature of the forex exchange market, it is important to first examine and learn some of the important historical events relating to currencies and currency exchange before entering ...
  10. Trading

    The Forex Market: Who Trades Currency And Why

    The forex market has a lot of unique attributes that may come as a surprise for new traders.
RELATED FAQS
  1. What is the difference between LIBOR, LIBID and LIMEAN?

    LIBOR, LIBID and LIMEAN are all reference rates used to benchmark short-term interest rates. The London Interbank Offered ... Read Answer >>
  2. Why is currency always quoted in pairs?

    When reading currency quotes, you have probably noticed that there is only a single quote for a pair of currencies. Currency ... Read Answer >>
  3. What does the 'FIG' at an investment bank refer to?

    The 'FIG' at an investment bank usually refers to the financial institutions group - a group of professionals that provides ... Read Answer >>
  4. What is the Big Mac index?

    The Big Mac index, also known as Big Mac PPP, is a survey done by The Economist magazine that is used to measure the purchasing ... Read Answer >>
  5. What are the differences between the Federal Funds Rate and LIBOR?

    Learn the key differences between the federal funds rate and the London Interbank Offered Rate, including currency denomination ... Read Answer >>
  6. What types of companies benefit from reporting results utilizing constant currencies ...

    Understand constant currency figures, and explore some of the reasons why a company is likely to benefit from reporting using ... Read Answer >>
Hot Definitions
  1. Put Option

    An option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security ...
  2. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  3. AAA

    The highest possible rating assigned to the bonds of an issuer by credit rating agencies. An issuer that is rated AAA has ...
  4. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  5. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  6. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
Trading Center