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Dear TH:
If I misread the "thread" my apology. On the other hand I thought the
question was" Can anyone tell me what the difference is between closing
price and settlement price?"
To that I responded. I further looked into the C.F.T.C.s' own publication
entitled C.F.T.C. GLOSSARY publication reference C.F.T.C. P-105
(rev.1/97) where in response to the difference of closing versus
settlement price I volunteer the following recap and exact quote:
" CLOSING PRICE (or RANGE): The price (or price range) recorded during
trading that takes place in the final moments of a day's activity that is
officially designated as the "close". @p.8
and;
" SETTLEMENT or SETTLING PRICE: The daily price at which the clearing house
clears all trades and settles all accounts between clearing members of each
contract month. Settlement prices are used to determine both margin calls
and invoice prices for deliveries. The term also refers to a price
established by the exchange to even up positions which may not be able to
be liquidated in regular trading." @p.36
Again, if I read his inquiry wrong. My apology. If I did not, then I will
stand by my interpretations of the two and the fact that they are both
quite obviously different. And the C.F.T.C. concurs.
Best wishes.
Regards
A.T.
P.S. Thanks for your input and response.
----------
> From: sptradr@xxxxxxxxx
> To: Al Taylor-C.T.A. <ataylor@xxxxxxxxxx>
> Cc: omega-list@xxxxxxxxxx
> Subject: Re: Please answer the two questions!
> Date: Thursday, September 24, 1998 2:41 PM
>
> You need to reread this entire thread. Your facts are wrong. Jim's are
> right, quoting from the CME rulebook. It's been covered in great detail,
> so cite your proof to avoid recovering old ground.
>
> -Tony Haas
>
> Al Taylor-C.T.A. wrote:
> >Too bad he didn't read the publications and definations the CBOT and CME
> >publish concerning your question.
>
> Al, Jim did!!! -TH
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