====== Pricing and Data Types ======

The WebSocket API represents market prices using the **Price** type, and cash values in the **Decimal** type. Both of these types wrap a string value for precision and consistency across different programming languages.

<bootnote>
Clients should parse **Price** and **Decimal** values into their programming language’s native **decimal** if available.
</bootnote>


===== Price and Decimal Types =====

The **Price** type is used for market prices, while the **Decimal** type is used for cash values in messages. Both follow the same structure:

  * **Price** – Represents a price in the market (e.g., bid/ask prices, last traded price).
  * **Decimal** – Represents numerical values such as volumes, margins, or risk parameters.

Example representation:
 
<code> 
Price = "4200.50"
Decimal = "5.25"
</code>


===== Proto Converter Tools =====

The [[https://github.com/CTS-Futures/t4-api-tools|T4 API Tools repository]] provides tools for converting between .NET decimals and Protobuf **Price**/**Decimal** types.

<bootnote>
Reach out to support if you would like an API tool for a language we have not covered yet.
</bootnote>

^ **Platform** ^ **Proto Converter Tool** ^
| **.Net** | [[https://github.com/CTS-Futures/t4-api-tools|ProtoConverters.cs]] |



===== Understanding Price Representation =====

The WebSocket API provides prices exactly as published by the exchange, using a **decimal format**. However, understanding price movement requires knowledge of **minimum price increments** and **point value calculations**.

===== Minimum Price Increment =====

Markets do not trade at arbitrary price levels; instead, they move in predefined steps known as the **Minimum Price Increment**. This defines the smallest amount by which a price can change.

For example, if a market has a **MinPriceIncrement** of **25**, price levels would move as follows:

  * **4000.00**
  * **4025.00**
  * **4050.00**
  * **4075.00**
  * **4100.00**

This ensures that all price movements align with the market’s allowed increments.

*Reference:* The **MinPriceIncrement** field is found in the **MarketDetails** message.

===== Converting Price Differences to Cash Value =====

To determine the cash value of a price movement, use the **Point Value**. This represents the dollar value of a single price unit.

Formula:

''(Price2 - Price1) × PointValue = Cash Equivalent''


Example:

<code>
  Price1 = 4200.00**
  Price2 = 4225.00**
  Point Value = 0.5**

  (4225.00 - 4200.00) × 0.5 = 12.5
</code>

This means a move from **4200.00 to 4225.00** corresponds to **$12.50 per contract**.

*Reference:* The **PointValue** field is found in the **MarketDetails** message.