Confused about how PERCENT_PRICE multipliers and PRICE_FILTER.tickSize works together

Dear Binance developers!

Tried searching for similar topics but non covered what I don’t understand so here goes:

Just as the title states, I’m quite confused about how these two should go together.

Given the following scenario on the Binance test API:
BNBBTC Sell order price (as of writing this):
1 BNB ~ 0.01061200 BTC
The PRICE_FILTER.tickSize for this symbol is 0.00000100 whereas the minimum price (as per the PERCENT_PRICE.multiplierDown) is 0.00212240.

Should we round this up to the nearest tickSize? If so by what rounding rules? Bankers rounding?

Or am I just completely missing/misunderstood something.

Thanks in advance!

Please take a look at the API document that explains the concept of filters.

In brief, tickSize determines how precise you can adjust the price and PERCENT_PRICE specifies the range of the price you can set based on the current average price in the market.