4266. Calculating the price and price precision

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    1. In calculating the price, the unexpired term must be expressed as years. To express the unexpired term in years:

      1. one day shall be deemed to be 1/30th of one month, and

      2. one month shall be deemed to be 1/12th of one year.

    2. For all bond transactions between Dealer Members and its clients where the price has been determined using the calculation approach set out in either section 4264 or 4265, the price must be extended to three decimal places of precision.

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