A token is a representation of an on-chain or off-chain asset. The token page shows information such as price, total supply, holders, transfers and social links. Learn more about this page in https://www.bookstime.com/ our Knowledge Base. The company is setting up a compensation pool for those affected and the team behind the platform said it would be giving up its share of trading fees to cover the losses.
Get the latest crypto news, updates, and reports by subscribing to our free newsletter. We can’t even agree on what a billion is numerically let alone abbreviated. (see attached regarding the long system vs the short system.) And before everyone gets upset just remember these numbers existed well before the war of independence. Spelling million, billion, and trillion out helps non-financial readers understand the resume more easily. Personally I hate that notation and use capital M whenever given the opportunity.
I wouldn’t be so quick to dismiss jstanek’s comment. “MM” is quite a standard abbreviation in the financial industry for “millions.” One can find it on most financial statements and/or SEC filings. Not quite, but I see it a lot in an industry that probably uses the abbreviation more than just about any other. The word “million” is not a commonly abbreviated word, but its abbreviations still have their place. An abbreviation for million is most often seen in financial documents and paperwork. Swap the word “million” for “mil” or “mm” to avoid redundant language but to still be specific in how large numbers you’re working with. 1,000 cubic feet of natural gas contains about 1/6 of the energy content of a single barrel of oil.
Crude oil reserves are measured in barrels and natural gas is measured in cubic feet . Converting these reserves to a barrel of oil equivalent, or BOE, gives a total energy content in a single unit. Now natural gas and other energy resources can be equally compared to the energy from one barrel of oil. The price of natural gas is often expressed in currency units per energy content. For example, US dollars per million BTU (USD per MMBtu or ~1,000 cubic feet of natural gas).
How High Can The Million Price Go?
This is a fluid flow rate of production rather than a measure of volume like BBL. This measurement is just as common but looks at production differently depending on what you need to learn from the information. To measure oil production, you may see many different abbreviations (BPD, BOPD, BBL/D, BPD, BP, or B/D) which all represent “barrels of oil per day.” The percent change in trading volume for this asset compared to 7 days ago.
- Mil spelled out is the only measurement that uses an inch.
- In follow-up messages on Twitter, the company said it traced the stolen funds to the OKX exchange, threatening to call the FBI if the funds were not returned.
- But due to confusion between M and MM, now the alternative notations are used for representing thousands and millions.
- And after reading this post, I think your advice to avoid abbreviating million is worth taking.
- As a result, reserves get reported in mmBtu as well.
- To take it further; one billion would be shown as $1MMM or one-thousand million.
- Can’t explain why, but I’ve just gotten used to it at this point.
Keep in mind that the abbreviation of MM is widely used in industries like banking, computing, educational, finance, governmental, and health. In addition to MM, Million may be short for other acronyms.
How Was The Mm Abbreviation Created?
“M” is only used as an abbreviation when talking about a lot of money or in scientific communities. Generally, you will not come across a “million” of anything. “M” is the official abbreviation used whenever a million units of something are requested. If you’re looking to avoid the word million altogether, you won’t have much luck. The only other option is to write your entire number numerically, or even convert it to scientific notation. A million is commonly used to describe a large amount. For example, millions of people got affected due to a downfall in the economy.
- For example, US dollars per million BTU (USD per MMBtu or ~1,000 cubic feet of natural gas).
- You might hear something along the lines of “He dropped a couple mil on a new car,” or perhaps “How many mils is that house?
- Spelling million, billion, and trillion out helps non-financial readers understand the resume more easily.
- FYI for anyone interested – in advertising, CPM means Cost Per Thousand, and MM is considered to be a million, just as in the financial industry.
- This approach combines Roman numerals and abbreviations.
- If we wanted to denote millions, we would show that as MM.
A symbol is an image, character, letter, or combination of same wholly used to represent something else. My above ranting post contains more details between the differences. If you are writing for a general context, be aware that many of your readers will be confused by this.
What Should Be The Abbreviation For Million
Join Binance, the world’s largest crypto exchange. “Unethical as your actions are, we concede that there is a certain mad brilliance behind your design. So here’s the deal, return 90% of the funds you stole and we will let this go, no questions asked. Straight up, this is a win-win-win for us , you and community,” MM.Finance wrote on Twitter on Thursday.
- Simply put for our industry, BTU is a measure of the energy content of a fuel, in this case, natural gas.
- It does seem like 99% of US industry is at odds with the SI system and I can speak with experience, rather large companies Shell and P&G both use M as thousand and MM as Millions.
- The income statement, or profit and loss statement, compiles the revenue and expenses during a certain period.
- This cannot be argued–there is no “maybe this” or “maybe that”.
- They used blue barrels to store and transport oil, thus BBL originated as a symbol for “blue barrels”.
- But if M and MM are used, non-experts might not even be aware that M is a symbol for thousands and get confused.
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A Mexican who doesn’t speak English wouldn’t know what “30 sec” means, he would write “30 seg”. The “s” is the universal symbol and was likely chosen for its semblance to the letter s found at the beginning of the actual word in most of the Latin-based languages. “Most English Speakers would not recognize” the abbreviation along with most speakers of any other language. This is because most “people” don’t deal with millions of dollars often enough to need an abbreviation. It is the measurement of the rate of flow for natural gas and is written as per day or per minute . Oil and gas companies and industry publications use several abbreviations for produced resources, including BBL, BOE, BTU and MCF.
- I work in the reinsurance industry, and it is very commonplace to see MM written to mean million and M to mean thousand, when writing of money.
- This measurement is just as common but looks at production differently depending on what you need to learn from the information.
- To measure oil production, you may see many different abbreviations (BPD, BOPD, BBL/D, BPD, BP, or B/D) which all represent “barrels of oil per day.”
- I used those abbreviations until I wrote this blog post and read all the comments.
M is one of the standard prefixes in the SI system of units. It is used in many contexts and is familiar in specialist and lay contexts. Back to the SI, there are strict guidelines regarding acceptable format. They DO NOT use “abbreviations”; they use “symbols”—and are very clear on this. Symbols do not follow the rules of grammar, instead the rules of mathematic symbols, which are universal. ‘Jstanek’ was entirely correct in his/her posting–which was perfected with an indication that the term is widely used in the financial industry.
B for billion isn’t Greek or Roman; it is just the first letter of the word billion. Daily energy production and consumption is expressed in barrels of oil equivalent per day or BOE/D. This unit is important to the financial community because it is a way to help evaluate the performance of energy companies. Simply put for our industry, BTU is a measure of the energy content of a fuel, in this case, natural gas. However, the acronym GPM is also a measurement for natural gas meaning gallons per Mcf, or gallons of NGLs produced per thousand cubic feet of gas processed. It’s a means for measuring the difference between lean and rich gas – as measured by the BTU of the gas and its GPM.
However, there are official abbreviations out there that you might come across, and it would help to know about them. We’ll explain the correct abbreviation for “million” in this article. One thing to consider is that when writing about large amounts of money, the words “million” or “billion” are often left out altogether, as are superfluous zeroes.
Mm Price Statistics
We have managed to find 300mm units of energy, which should be more than enough to get this experiment going. what does mm mean MmBtu is an old-fashioned measurement in physics. It was meant for energy, but it isn’t used much today.
Frequently Asked Questions
I’ve worked in banking, PE and now for a large pharma. CIMs, presentations, we ALWAYS abbreviate million and billion. I am an old HR professional and I have never seen MM used. I just happen to google it since I saw it on a letter the VP asked me to proof. My suggestion is, lets decide what we are going to use globally so everyone understands and leave it at that so there is no confusion. A single “M” can mean either thousand or million. You want your business writing to be clear, not confusing.
It’s a number…and therefore has nothing to do with the SI. I didn’t question the use of MM to mean million, M to mean thousand, in the finance industry. I simply pointed out that in other contexts the symbol M represents a million. On the basis of your statement, 99% of all English speaking … Etc are at odds with the SI international system of units and abbreviations. Abbreviations are abbreviated forms of words and phrases.
It’s then up to the reader to note the context, with the document stating the place value once at the beginning and not again. The word “million” is defined as the number 1,000,000. When plural, as in “millions,” it refers to multiples of 1,000,000. In its simplest terms, a million is “one thousand thousand”. The word “million” is most often used in reference to money, but is also frequently used in exaggeration. The word “million” can be paired with the suffix “-aire” to form the word millionaire which indicates an individual with a million or more dollars. FREE INVESTMENT BANKING COURSELearn the foundation of Investment banking, financial modeling, valuations and more.
I feel like it used to show superiority or present another barrier to people outside of finance looking in. Financial reports forecast the future of the company, so it’s important to keep that mindset to avoid focusing too much on the past or present. However, you should communicate any present findings to your manager that may reflect the financial performance during the current reporting period. A company should have a detailed record of how it spends its money daily, so it can go back and compare results to see if there has an impact on the current financial state of the company.