A measure that simplifies a range of prices to a single price that can be compared to any point to determine if that price is higher or lower than expected. Average price is calculated by adding all of the prices in the range and then dividing that sum by the number of prices. For a bond, average price is calculated by adding the face value to the purchase price and then dividing that sum by two. In the Transaction Cost Analysis, the average price is the average trade price used in the Order Details section of the report. In the FX Portfolio – Virtual FX Position section of the TWS Account Window, this is the average price per contract. In the TWS Account Window, this is the average cost of stock and securities options opening positions, including commissions.