Clearing Corporation


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Related to Clearing Corporation: National Securities Clearing Corporation

Clearing Corporation

An agency or corporation on an exchange that settles transactions for a fee. Most exchanges have one or more clearing corporations 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 corporations exist to process what each party owes or is owed in a central location so that the fewest securities and the least amount of money 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 corporations receive a clearing fee in exchange for these services.
References in periodicals archive ?
Clearing corporations have been set up to act as settlement guarantors (so that in case a broker defaults others don't suffer).
Morgan Chase and the Bank of New York), the Fixed Income Clearing Corporation, securities dealers, an interdealer broker, a custodian bank, a money market fund, The Bond Market Association, and the Investment Company Institute.
Taiwan Depository and Clearing Corporation (TDCC) released an update to its e-passbook app on Monday, adding four main features including notification, cloud data backup, data visualization with more infographics, and market insight.
"A key benefit of the low-cost funds is that they easily trade through the National Securities Clearing Corporation and are available through major recordkeeping and trading platforms," added Conklin.
The PSE had to suspend stock trading as there was no clearing and settlement at the Securities Clearing Corporation of the Philippines due to the suspension of operations in the Philippine Payments and Settlements System (PhilPaSS).
The Dubai Commodities Clearing Corporation (DCCC), the central counter-party (CCP) for the Dubai Gold & Commodities Exchange (DGCX), on Monday announced that Clearing members will now be able to deposit cash collateral to the Corporation in the form of Euro, UK Pound (GBP) and Japanese Yen (JPY) in addition to UAE Dirhams (AED) and U.S.
Yesterday Michael Bodson, President and CEO at parent company Depository Trust & Clearing Corporation (DTCC), told the Daily Post he expected job numbers to keep growing at the site.
Dubai: The Dubai Gold and Commodities Exchange (DGCX) said on Sunday its CCP Operator arm, Dubai Commodities Clearing Corporation (DCCC) has been granted the status of a aACAyRecognised Body' by the Dubai Financial Services Authority (DFSA).
The transaction, which includes SMX's clearing house SMX Clearing Corporation (SMXCC), will expand ICE's exchange and clearing operations to Asian markets, in line with its growth plan.
Summary: The Dubai Commodities Clearing Corporation (DCCC) has become the first central counterparty (CCP) in the Middle East to join the Euroclear's global Collateral Highway.
Overall, Japan has the most open market structure of the major Asian markets and last year allowed proprietary trading systems, including Chi-X Japan, operated by Chi-X Global, to clear and settle through the Japan Securities Clearing Corporation (JSCC).
Nearly over USD346m of credit default swaps are outstanding on Anglo Irish Bank debt, the report said, citing the Depository Trust and Clearing Corporation.

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