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# T4 Custom Strategies Calculations

InputsDescription
TicksThis is the price of the product as published by the exchange. Note that this value may not match the display price.
TickValueThis is the cash value of a minimum tick for the product multiplied by the leg multiplier chosen for that leg, i.e. a leg multiplier of 3 with a \$10 minimum tick creates a \$30 TickValue.
NumeratorThe minimum tick increment in the same terms as the "Ticks" of the product, i.e. a display price of 1170.3 may have a minimum tick of 0.1, but if the Ticks are published by the exchange as 11703, the Numerator will be 1, not 0.1
DenominatorThe value sent from the exchange that divides into Ticks to create a decimal value.
PriceCodeIf applicable, this applies a special conversion to a decimal value to create a more legible display price, i.e. a 10yr Note decimal price of 127.296875 becomes 127095 after applying the appropriate PriceCode.
DisplayFormatThe decimal precision applied to a display price, i.e. a price of 1258.75 with a DisplayFormat of 0.0 will truncate the last digit, leaving 1258.7 as the display price

## Cash Calculation¶

Step 1 - Multiply each leg price by its TickValue and Denominator, then divide by its Numerator.
Step 2 - Add all leg values calculated in Step 1, where buy-side legs are positive and sell-side legs are negative.
Step 3 - Multiply the value derived in Step 2 by the first leg's Numerator, then divide by the first leg's TickValue and Denominator.

## Decimal Calculation¶

Step 1 - Multiply each leg price by its leg multiplier.
Step 2 - Add all leg values calculated in Step 1, where buy-side legs are positive and sell-side legs are negative.

## Tick Calculation¶

Step 1 - Multiply each leg price by its leg multiplier and Denominator.
Step 2 - Add all leg values calculated in Step 1, where buy-side legs are positive and sell-side legs are negative.
Step 3 - Divide the value derived in Step 2 by the first leg's Denominator.

## Yield Calculation¶

The yield calculation is the same as the cash calculation, but the quotes are displayed as yield instead of price. The yield calculation is only available for treasury products.

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