Unusual Number Format With DDE

I have cells in Excel that are linked using DDE to data in another application (market price data for stocks and commodities). When this market data changes, it is automatically updated in the Excel spreadsheet.

Two of the markets (Treasury Bonds and Treasury Notes) are traded in thirty-seconds and sixty-fourths of a point. But the data is displayed with the following format:

112 14.5

In this example the market price is 112 and 14.5 thirty-seconds (29 sixty-fourths), or 112.453125.

I need to use this number in other cell formulas, but the problem is that the DDE link displays the number in the cell as:

112[space]14.5

I don't know how to write a formula that would remove the space between 112 and 14.5, so that I could divide the 14.5 by 32 and arrive at the result of 112.453125.

Or remove the space, multiply 112 by 32, add 14.5, and then divide by 32.

Can someone point me in the direction of an Excel Function or Formula that could accomplish this?

Much appreciated,

Gerry