In bond trading, the clean price is the security's quoted value before the settlement adjustment for interest accumulated since the most recent coupon date. Any applicable rebate is also left out, while costs already embedded in the quoted amount remain reflected. The figure is contrasted with the dirty price, which incorporates the accrued interest due at settlement.
Passende Formel
Source: European Central Bank (ECB) (source). This glossary entry is an independently worded adaptation of the cited information.