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The process of settling transactions. Most exchanges have one or more clearing houses, which are charged with matching orders together, ensuring that deliveries are made to the correct parties, 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 the fewest securities actually change hands. For example, suppose that a broker-dealer buys 1000 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 clearance services.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
The importance of blood lactate clearance as a predictor of early mortality following the modified Norwood procedure.
Lactate clearance rate (LCR) was calculated using a formula: LCR = (initial Lac value-Lac value at different time points after treatment)/initial Lac valuex100 %.10 The incidences of complications such as disseminated intravascular coagulation, respiratory distress syndrome and multiple organ dysfunction syndrome and death rate were recorded.
The lactate clearance rate reflects whether tissue hypoperfusion has been improved or if the anaerobic metabolism of tissue cells has been corrected.
The results of this study suggest an important role in enhancing lactate removal and preventing fatigue of performing active recovery that includes synchronously light exercise of both great muscle mass -like that of the lower limbs- to increase blood flow facilitating lactate clearance by hitherto-active muscles and organs such as the liver, and exercise of the muscles that have produced the main quantity of lactate during the previous exercise, enhancing lactate metabolism by adjacent oxidative fibers.
(4) Lactate levels [greater than] 4 mmol/L (normal [less than] 2 mmol/L) have been associated with poor patient outcome.[degrees] Lactate clearance levels have been shown to reflect a poor outcome if greater than 48 hours (less than 24 hours is the target).
liver dysfunction can reduce CRP production and lactate clearance) (9,10).
8.4 mmol/L) levels were significantly lower, and lactate clearance was significantly higher (23.8% vs.-12.0%) in survivors.
Lactate clearance as a useful biomarker for the prediction of all-cause mortality in critically ill patients: A systematic review study protocol.
To match energy demand for a soccer match, blood lactate concentration, blood lactate clearance, and heart rate were measured.
In short HIIE, [t.sub.peak] was 20 s, [P.sub.peak] corresponded to [P.sub.max] determined in IET, [P.sub.rec] was set just below [P.sub.LTP1] (since [P.sub.LTP1] was suggested to be the point of the optimal lactate clearance rate), and [t.sub.rec] (26.7 [+ or -] 13.4 s) was calculated via equation 1.