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 Rate

    The rate of interest charged on short-term loans made between ...
  3. Interbank Call Money Market

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

    The weighted average of overnight Euro Interbank Offer Rates ...
  5. No Dealing Desk

    A way of forex trading that provides immediate access to the ...
  6. Big Four (or Big Five, Big Six, ...

    The largest accounting firms in the United States as measured ...
Related Articles
  1. Forex Education

    Forex Trading: A Beginner's Guide

    Learn about the forex market and some beginner trading strategies to get started.
  2. Economics

    London Interbank Offered Rate (LIBOR)

    Learn more about this rate which banks use to determine the amount of interest to charge other banks.
  3. Forex Education

    Forex Tutorial: Reading a Forex Quote and Understanding the Jargon

    One of the biggest sources of confusion for those new to the currency market is the standard for quoting currencies. In this section, we'll go over currency quotations and how they work in ...
  4. Professionals

    FOREIGN CURRENCY OPTIONS

    The value of one country’s currency relative to another’s is constantly changing and is known as the exchange rate. Large commercial banks exchange currencies for their own accounts ...
  5. Professionals

    Types Of Financial Markets And Their Roles

    We check out the many different types of financial markets and how they fit into the overal economy.
  6. Forex

    Buying And Selling

    The foreign exchange, or forex, market can be a risky place to trade, get a better understanding in this walkthrough.
  7. Forex Education

    Forex Trading: A Beginner’s Guide

    As businesses continue to expand to markets all over the globe, the need to complete transactions in other countries’ currencies is only going to grow.
  8. Forex Education

    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.
  9. Forex

    Market Participants

    A look at the major participates in the forex market.
  10. Professionals

    London Interbank Offer Rate (LIBOR)

    CFA Level 1 - London Interbank Offer Rate (LIBOR). Learn how banks use the London interbank offer rate when borrowing funds and how this relates to the fixed-income market.
RELATED FAQS
  1. What is the difference between LIBID and LIBOR?

    Both LIBID and LIBOR are rates primarily used by banks in the London interbank market. The London interbank market is a wholesale ... Read Answer >>
  2. 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 >>
  3. How is the forex spot rate calculated?

    The forex spot rate is determined by supply and demand. Banks all over the world are buying and selling different currencies ... Read Answer >>
  4. 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 >>
  5. 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 >>
  6. 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 >>
Hot Definitions
  1. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  2. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  3. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  4. Society for Worldwide Interbank Financial Telecommunications ...

    A member-owned cooperative that provides safe and secure financial transactions for its members. Established in 1973, the ...
  5. Generally Accepted Accounting Principles - GAAP

    The common set of accounting principles, standards and procedures that companies use to compile their financial statements. ...
  6. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
Trading Center