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A comment on Staff Report on Algorithmic Trading in U.S. Capital Markets [pdf]. Parent comment

Re:Staff Report on Algorithmic Trading in U.S. Capital Marke... by egwor on Thursday September 03, 2020 @06:50AM (#24362706)
How's this different from in FX where someone buys EURUSD in USD quantity? Venues trade EURUSD not USDEUR. So they want to trade 1000 dollars. Current fx rate is 1.18162. So that's 846.2957634434 euros. Minimum settlement in euros is 1 cent, so what is done with the 0.57 of a euro cent or what happens to the difference between 1000 USD and 999.9931898? I think the answer to this is bankers rounding.
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Re:Staff Report on Algorithmic Trading in U.S. Capital Marke... by cm2187 on Thursday September 03, 2020 @06:56AM (#24362742)
It's called an "FX Rate" not an "FX price". You apply a rounding as part of the transaction. The amount settled is not a rate, it is a monetary amount.

The price quoted on the market is the amount settled for one share. If it is not, then it is not really the price of one share.

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