Definitions
In plain terms
A screen's last price usually comes from a trade, but which trades count can depend on sale conditions, corrections, venue, and session.
Technical
The field requires instrument, currency, event ordering, eligibility rules, correction handling, and a cutoff; otherwise different systems can produce different last values.
Scope
It is not automatically the official close, fair value, or current executable price.
Examples
- A governed dataset records last traded price explicitly and preserves the source context needed to interpret it.
Common misconceptions
- Last Traded Price does not have one universal meaning or policy without its declared source, scope, and data contract.
Concept relationships
Where this concept is used
Evidence and governance
- Daily TAQ Client Specification New York Stock Exchange / Intercontinental Exchange · official exchange
Supports: preferred label, short definition, technical definition
Limits: Product-specific and licensed; it does not create universal eligibility, repair, imputation, tolerance, or aggregation rules.
- Fintech Builder Glossary Definition Contract The Fintech Builder · internal governed contract
Supports: variant distinction
Limits: Defines governed platform behavior rather than claiming these policies are universally prescribed by external McClellan methodology.
- Reviewed by
- fintech-builder-owner-approved
- Last reviewed
- 2026-07-26
- Next review
- 2027-07-26
- Record status
- published