Definitions
In plain terms
It is often used as a reference for daily change, but the prior applicable session and adjustment basis must be clear.
Technical
The field depends on instrument identity, trading calendar, official or calculated close policy, currency, corporate-action adjustment, and revision version.
Scope
It is not always the last trade from the prior calendar day.
Examples
- A governed dataset records previous close explicitly and preserves the source context needed to interpret it.
Common misconceptions
- Previous Close does not have one universal meaning or policy without its declared source, scope, and data contract.
Concept relationships
Prerequisites
Contrasts with
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