Joint Clearing Member

A clearing house that operates on more than one exchange. An example is the DTCC, which operates on several American stock exchanges.

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Joint clearing members

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The transaction also is expected to deliver significant customer benefits through clearing capital efficiencies related to equity holding requirements, portfolio margining and security deposits for joint clearing members.

CME Group Inc. to Acquire NYMEX Holdings, Inc. on Terms Previously Announced

Joint clearing members (firms with clearing member status of both CME and CBOT) will be required to hold 12,000 shares of CME Group Class A stock, a reduction of 4,000 shares from the shares required to hold individual CME and CBOT clearing memberships.

Today's announcement translates into the release of $2 million in value for each of our joint clearing members," said CBOT Chairman Charlie Carey.