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Clearance
(redirected from clearance time)

    Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.01 sec.

Clearance. Clearance is the first half of the process that completes your order to buy or sell a security. During clearance, the details on both sides of the transaction are compared electronically to ensure that the order to buy and the order to sell correspond.

For example, in a stock transaction, the Committee on Uniform Securities Identification Procedures (CUSIP) number, the number of shares, and the price per share must match.

Next, transactions within each broker-dealer are netted down, or offset, by matching its clients' buy orders against sell orders from others of its clients or among a group of affiliated firms. Their records are then updated to reflect the new ownership and account balances.

Any unmatched orders are forwarded to the National Securities Clearing Corporation (NSCC), which instructs selling broker-dealers to provide the relevant securities and the buying broker-dealer to send the cash.



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? Mentioned in ? References in periodicals archive
 
This decrease in clearance time, in part, is due to the CDE's being passed by the FOS integrated system through AFATDS to the targeting cell.
FOS with PSS integrated: nowhere for the enemy to hide by Smith, Milton B. / FA Journal
Union Pak, a service provider for UPS, has worked with Costa Rican customs to set up a grade system for clearance using colors, from immediate (green), to documentation review (yellow) and full physical inspection (red), reducing clearance time to three hours from three days.
Express interest: The air cargo industry delivers its first lobby ... by Zellner, Mike / Latin Trade
Indeed, the average Customs clearance time at SCLA is just two hours -- clearance at LAX can take up to two days.
Victorville: An Expansion Alternative by METZLER, KEITH / Los Angeles Business Journal
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