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Also called the closing price, the settlement price is the price at which a derivatives contract settles once a given trading day has ended. It is commonly determined by the price of the final trade prior to the closing bell or by averaging the spot price in the final minutes of a trading session.
The opening price reflects the price for a particular security at the beginning of the trading day within a particular exchange while the closing price refers to the price of a particular security at the end of that same trading day. Settlement prices are based on price averages within a specific time period.
Final settlement price is the price at which the underlying asset is to be exchanged at or is the final priced used in the determination of profit/loss for cash settled futures contracts.
The Last traded price (LAP) usually differs from the closing price of the day. This because the closing price of the day on USE is the weighted average price of the last 30 mins of trading. Last traded price of the day is the actual last traded price.
A closing price is the trading price of a security at the end of the trading day. In real estate, it is the price at which a piece of property sells.
The last price paid for a commodity on any trading day. The exchange clearinghouse determines a firm's net gains or losses, margin requirements, and the next day's price limits, based on each future and options contract settlement price. Also referred to as settle or closing price.
Usually, options contracts are settled through the actual delivery of underlying assets like stocks of different companies. But, cash settlement options contracts are settled through cash value of the option on or after expiry. It does not require any physical delivery of the underlying asset after expiry.
Daily Settlement Price for mark to market settlement of futures contracts. Daily settlement price for futures contracts is the closing price of such contracts on the trading day.

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