Close

The term "close" has a couple of definitions in the financial arena. The one most ubiquitously referenced is when a trading session ends. In the U.S., for instance, the stock market officially closes at 4 pm EST. The market close numbers at the time become historically recorded for future citation.

In the more colloquial business sense, including sectors outside of the financial one, the notion of "close" refers to the final step taken by parties in the midst of a transaction when funds and goods are exchanged, or when final contracts are reciprocally executed. Meanwhile, we have engine trouble, kids need to get to school, taking the train will put us 90 minutes behind our work schedule, and the mechanic’s garage is closed.