notional settlement - Investment & Finance Definition
A reference price based on trading activity during a specific time period that is close to the end of the day. The notional settlement is used to calculate the maximum daily price fluctuations for electronic trading that occurs in after-hours trading on the New York Mercantile Exchanges’ ACCESS trading system. The notional settlement is used when the regular settlement price hasn’t been established before NMEX ACCESS trading begins. It is discarded later in the session, when final settlement prices are available.