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The difference between futures settlement price and closing price.
The difference between them is that they have different definitions and different functions.

1, different definitions: the settlement price refers to the price of futures contracts that have not been traded on the day after the end of a trading day (it is still the theoretical price at this time). It is the price calculated by the margin of the open contract held by the investor and the profit and loss of the day. The closing price is the closing price of the last transaction in a trading day.

2. Different functions: the settlement price is used to calculate margin, profit and loss, handling fee, etc. The closing price is used to calculate the opening price of the next trading day.