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Hello sir,
I was confused while calculating the gain on the futures market, in past paper answer, instead of (96.16-96.02) they calculate it as (9616-9602)*25*37, how they calculate 9616 and 9602?The answer is using ticks. The difference between 96.16 and 96.02 is 0.14, which is 14 ticks (and is the same as 9616 – 9602).
I do explain the use of ticks in my free lectures, but as I state in the lectures you never actually need to use ticks in the exam (and I never do 🙂 )
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