Four-Decimal Point NAV Calculation Working Group 

The final rules expand—from two to four places—the number of decimal points that must be reflected in the net asset value (NAV) of a floating money market fund that has an NAV target of $1.00/share. The expanded NAV (e.g., $1.0000) must be used for transaction processing and display purposes, as well as incorporated into price-dependent files and data feeds both within and between organizations.

The Four-Decimal Point NAV Calculation Working Group is addressing investor-related systems and processing considerations for floating NAV money market funds and their adoption of basis-point pricing.