Clearance

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Clearance

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.

Clearance.

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.

References in periodicals archive ?
It is difficult to state what impact 11% less urea clearance may have on patients in relation to their morbidity and mortality.
Cr (week) 71.97 [+ or -] 25.41 62.35 [+ or -] 18.7 TBW 33.07 [+ or -] 6.91 33.8 [+ or -] 5.74 BSA 1.68 [+ or -] 0.2 1.71 [+ or -] 0.17 Peritoneal urea 54.83 [+ or -] 13.7 66.03 [+ or -] 11.79 clearance (week) Renal urea clearance 19.17 [+ or -] 18.7 6.39 [+ or -] 10.9 (week) nPCR 1.03 [+ or -] 0.2 1.06 [+ or -] 0.26 Total daily drainage 8.98 [+ or -] 2.4 10.95 [+ or -] 1.67 volume Total daily drainage 5.34 [+ or -] 1.23 6.42 [+ or -] 0.94 volume/[m.sup.2] BSA Variables P value Total Kt/V (week) NS Total C.
By measuring urea clearance (Kurea) in reversed and standard needle positions and entering the values through mathematical computations, access flow can be measured.
The recommended urea clearance target should be at least 2L/week, and the creatinine clearance target should be at least 60L/week in high and high average peritoneal transporters; and 50L/week in low average and low peritoneal transporters (Baxter HealthCare Corporation, 2006).
This requires a balance between objective (adequate urea clearance and ultrafiltration, anemia management, etc.) and subjective factors ("feeling healthy," "having energy").
Various factors can change the effectiveness of a given dialysis dosage, including diet, physical activity, residual urea clearance, and fistula efficiency.
Data for urine volume (UV), serum creatinine (SCr), total and residual creatinine clearance (Cr[Cl.sub.total] and Cr[Cl.sub.residual]), total and residual urea clearance (Kt/[V.sub.total] and Kt/[V.sub.residual]), and dry body weight were collected at baseline, six months and one year.