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James F. Mazz..wrote On Sept.24,1998:
Re: Please answer two questions?
"No That's simply the = last tade =. Once = AGAIN =, according to the CME
andf CBOT "closing price" and "settlement Price" are synonymous."
Too bad he didn't read the publications and definations the CBOT and CME
publish concerning your question. The "SETTLEMENT Price" "...Whenfutures
prices close within a price range, the settle price represents an AVERAGE
of prices that occurred when the market closed" This is a direct quote
from their publication from the CBOT on [AG. Futures for the Beginners"
Please read it James.
Apparently you have never watched a price close at say 100.00 and then
within 3-5 minutes the price is changed to 100.95. One is the closing
price, the other is the settlement price which does differ clearly from the
closing price. The above definition lends support and credence to my
statement and what appears to be a lack of understanding on your part. But
hey. Best wishes.
Thanks
Regards.
Al T.
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> From: James F. Mazzulla <tagteam@xxxxxxx>
> To: omega-list@xxxxxxxxxx
> Subject: Re: Please answer the two questions!
> Date: Thursday, September 24, 1998 1:34 PM
>
> On Wed, 23 Sep 1998, Al T. wrote:
> >......I am of the impression that the closing price is the price which
is punched
> >in on the last trade effected on the closing bell.
>
> No, that's simply the =last trade=. Once =AGAIN=, according
> to the CME and CBOT "closing price" and "settlement price"
> are synonymous.
>
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