FTB-C000100 / Implementation concept

Precision

Precision describes the fineness or number of digits with which a value or timestamp is represented or computed.

Also known asdecimal precisionnumeric precision

Intermediate 9 linked topicsPublished

Definitions

In plain terms

A price stored to four decimal places and a timestamp stored to nanoseconds have declared representation precision, but that does not guarantee equal real-world accuracy.

Technical

A numeric contract distinguishes storage precision, decimal scale, rounding mode, display precision, timestamp granularity, and measurement uncertainty.

Scope

Precision is not the same as accuracy, correctness, or guaranteed source-clock quality.

Examples

  • A governed dataset records precision explicitly and preserves the source context needed to interpret it.

Common misconceptions

  • Precision does not have one universal meaning or policy without its declared source, scope, and data contract.

Concept relationships

Related

Required by

Where this concept is used

Tutorials planned

These catalogued topics use this concept, but their complete build has not shipped yet.

  • D01-F01-A01 Important
  • D01-F01-A04 Important
  • D01-F02-A01 Important
  • D01-F02-A03 Important
  • D01-F04-A02 Important
  • D01-F04-A03 Important
  • D01-F04-A04 Important
  • D03-F01-A02 Important
  • D03-F01-A05 Important

Evidence and governance

  1. Daily TAQ Client Specification New York Stock Exchange / Intercontinental Exchange · official exchange

    Supports: preferred label, short definition, technical definition

    Limits: Product-specific and licensed; it does not create universal eligibility, repair, imputation, tolerance, or aggregation rules.

  2. Fintech Builder Glossary Definition Contract The Fintech Builder · internal governed contract

    Supports: variant distinction

    Limits: Defines governed platform behavior rather than claiming these policies are universally prescribed by external McClellan methodology.

Reviewed by
Last reviewed
2026-07-26
Next review
2027-07-26
Record status
published
Written by

Fintech engineer building market-data and financial systems, and the author of every article, glossary record, and reference implementation on The Fintech Builder.