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My understanding would be that the settlement price is that used to
calculate margin requirements by the exchange while the closing price might
be the last traded price. e.g. the settlement price of the FTSE100 futures
contract on LIFFE is published at 4:30pm but, since the contract continues
to trades on APT, the last traded price might not occur until 6:00pm.
-----Original Message-----
From: James F. Mazzulla <tagteam@xxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: 23 September 1998 18:04
Subject: Re: Two questions ....
>On Wed, 23 Sep 1998, Earl wrote:
>>Hmm, so what is the difference between Close and Settle?.....
>
>There isn't any. The CBOT's definition for Settlement Price
>is "The last price paid for a commodity on any trading
>day.......Also referred to as......closing price". The CME's
>definition is "The official daily closing price of futures
>contracts".
>
>Best regards,
>Jim
>
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