Related Words

Clearing: Getting the puck out of your defensive zone, so the other team canít take a shot on goal

Clearinghouse: Clearing corporations, or clearinghouses, provide operational support for securities and commodities exchanges. They also help ensure the integrity of listed securities and derivatives trans . . . View Full Definition

Clearing Firm: Clearing firms handle the back-office details of securities transactions between broker-dealers, making the settlement process streamlined and efficient. In brief, when a broker’s order to b . . . View Full Definition

National Securities Clearing Corporation (NSCC): A clearing corporation that facilitates the settlement of accounts among brokerage firms, exchanges, and other clearing corporations.

Depository Trust And Clearing Corporation (DTCC): The DTCC is the world's largest securities depository, holding trillions of dollars in assets for the members of the financial industry that own the corporation. It is also a national cleari . . . View Full Definition

Clearing House Electronic Subregister System (CHESS): A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the . . . View Full Definition

Nonclearing Member: An exchange member firm that is not able to clear transactions, and must pay another member firm to carry out its clearing operations.

Mortgage-Backed Securities Clearing Corporation (MBSCC): A wholly owned subsidiary of the Midwest Stock Exchange that operates a clearing service for the comparison, netting, and margining of agency-guaranteed MBS transacted for forward delivery.

Options Clearing Corporation (OCC): The Options Clearing Corporation issues all exchange-listed securities options in the United States and guarantees all transactions in those options. The OCC also assigns exercised options f . . . View Full Definition

Clearing Agent: Processing solution used to remove stains or to cancel out the effect of chemicals left on the sensitive material left from previous stages in the process.