What is the mid price?
A general market value for an asset which is calculated by taking the average of the current bid and ask prices being quoted.
Where have you heard about mid price?
If you look up security prices in newspapers, the price quoted is likely to be the mid price. It may also be called the ‘mid-market price’.
What you need to know about mid price.
The mid price value is typically quoted when providing a single number for a security price. As exchange prices are rounded to the nearest tick (valid tradable price), the mid price value may not be an exact average of the bid and ask prices.
For illiquid securities that are traded through a matched bargain system, the bid price may be unrealistic and can distort the mid price. In this situation, the last traded price (i.e. the price of the most recent trade) may be quoted instead.