Pipette
Fractional pip, 1/10 of a point. Additional decimal point quoted by some forex brokers. It provides a greater accuracy of price movements. Examples: 1.27503 for EUR/USD or 110.052 for USD/JPY.
A pipette (sometimes spelled as pipett) is a laboratory tool commonly used in chemistry, biology and medicine to transport a measured volume of liquid, often as a media dispenser. Pipettes come in several designs for various purposes with differing levels of accuracy and precision, from single piece glass pipettes to more complex adjustable or electronic pipettes. Many pipette types work by creating a partial vacuum above the liquid-holding chamber and selectively releasing this vacuum to draw up and dispense liquid. Measurement accuracy varies greatly depending on the instrument.