How Settlement Prices are Derived

End of day settlement prices are available on our web site after 4pm CST.

End of day settlement prices are determined two ways.

For symbols market makers are quoting, snapshots of the bid and ask are taken throughout the day. Dividing the bid and ask by two, a ‘fair value’ price is determined where that price is then taken and evaluated against the stock price, arriving at a basis.
This happens continuously throughout the day. At the end of the day these stored basis prices are averaged and then added to the closing price of the stock to arrive at the end of day settlement.

For symbols that are not quoted actively by market makers throughout the day, prices are derived from our own formulas using dividend streams we get from multiple sources to arrive at end of day settlements.

Final Settlement

On expiration the settlement price equals that of official closing cash price on the primary exchange.

Settlement Files For Download