clearing member

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Clearing member

A member firm of a clearing house. Each clearing member must also be a member of the exchange. Not all members of the exchange, however, are members of the clearing organization. All trades of a non-clearing member must be registered with, and eventually settled through, a clearing member.

Clearing Member

A member firm on an exchange that is also a member of a clearing house. Clearing members have access to the clearing house for the settlement of transactions. Non-member firms on an exchange must work with and through a member firm in order to settle their own transactions. See also: Clearing fee.

clearing member

A member of a clearing house. Membership in such a house permits the member firm to use it for clearing security trades.
References in periodicals archive ?
In addition, there are 11 Clearing Members for OTC-traded financial derivatives.
ADX has also confirmed that all its systems do cope with the highest global standards that would facilitate the work of general clearing members after securing the required procedures for this service.
Sebi has also decided to make it easier to do business by allowing the grant of a unified licence to brokers and clearing members to operate in commodity derivative as well as equity markets.
This enables banks based in the EU to apply to become Clearing Members on the exchange.
Further, the company stated that ICE Clear Singapore's first three clearing members were KGI Ong Capital Pte Ltd, Phillip Futures Pte Ltd and UOB Bullion and Futures Ltd.
Summary: This new FX collateral service will allow clearing members to utilise these currencies against their margin commitments without having to convert these currencies into equivalent US dollars.
ii) All Non-Broker Clearing Members of the National Clearing Company of Pakistan Limited.
The clearing management will conduct clearing operations and settlement of trades that are in the market for the securities to calculate the clearing members, in order to determine the net rights and obligations of each of them, and the settlement of emerging centres for deposited securities trading has, and transfer ownership, and by e-limitation," the statement said.
The RBI observed that clearing members or brokers have to maintain records of collateral transfers from a client and this was subject to inspection by SEBI/stock exchanges.
Any futures exchange is only as strong as its clearing members and so I am very happy to see a highly respected futures brokerage like Advantage join the exchange.
Sponsors should also expect clearing members, investment managers and other parties involved in swap transactions to ask for additional representations to assure compliance, or to protect themselves from liability, with respect to ERISA, Dodd-Frank and CFTC regulations.
Clearing Members underpin all the trading activity on our market, so adding an organization of RBS's scale to their number marks a significant moment in DME's development.