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Clearing House |
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Clearing House An agency or corporation on an exchange that settles transactions for a fee. Most exchanges have one ore more clearing houses that are charged with matching orders together, ensuring that delivery is made to the correct party, and collecting margin money. Because so many trades take place on an exchange in a given day, clearing houses exist to process what each party owes or is owed in a central location so that the fewest securities actually change hands. For example, suppose that a broker-dealer buys 1,000 shares of a security, and then, in a completely separate transaction, sells 700 of the same shares. At the end of the trading day, the clearing house would determine that the broker-dealer must only buy 300 shares as the other 700 belong to another party. Clearing houses receive a clearing fee in exchange for these services. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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DEAL DONE: Agoura Hills-based Electronic Clearing House Inc. ATLANTA -- VSoft Corporation, a global information and technology provider of process improvement tools for financial institutions, announced that the Philippine Clearing House Corporation (PCHC) has chosen to implement its Image Capture, Archive, CD Distribution, Online Image Research and Returns solutions. The give-away guys at the two major magazine sweepstakes companies - Publishers Clearing House and American Family Publishers - may dole out as much as $21 million this week. |
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