The trade price, in financial markets, is the price at which a buyer and a seller actually complete a transaction. It is also called the execution price or fill price. It differs from a quote: the bid price and ask price show what participants are willing to pay or accept, while the trade price records what was agreed. On an order-driven market a trade normally occurs at the price of the resting order that an incoming order matches. The most recent trade price is the last traded price.
Exchanges publish each trade price with its quantity and time, and these records feed charts, indices and settlement calculations. For the trader, the trade price fixes the cost basis of a position and its profit or loss. A large order filled in several pieces has an average trade price, which is compared with benchmarks such as the mid price at the time of the order to measure slippage.