Clearing house

A clearing house (or clearinghouse) is an organization affiliated with a securities or derivatives exchange that completes the transactions on that exchange by seeing to validation, delivery, and settlement.

Related Topics:
Validation - Delivery - Settlement

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A clearing house may also offer novation, the substitution of a new contract or debt for an old, or other credit enhancement services to its members.

Related Topics:
Novation - Contract - Debt

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The London Clearing House, for example, provides clearing and settlement services for the International Petroleum Exchange, London, which is affiliated with the Intercontinental Exchange, Atlanta, Georgia. The London Clearing House also acts as the clearing house for Euronext.liffe and the London Metals Exchange.

Related Topics:
London Clearing House - International Petroleum Exchange - London - Intercontinental Exchange - Atlanta, Georgia - Euronext.liffe - London Metals Exchange

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In 2001, the United States' Commodity Futures Trading Commission registered the London Clearing House as a derivatives clearing organization (DCO) in the United States as well, making it the first offshore DCO to be recognized under the statutory mandate of the Commodity Futures Modernization Act of 2000.

Related Topics:
2001 - United States - Commodity Futures Trading Commission - Derivatives clearing organization - Commodity Futures Modernization Act of 2000

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In the United States, the National Automated Clearing House Association (NACHA) is an association that organizes the mechanism for the financial service institutions that partipate in the Automated Clearing House (ACH) network. These organizations use the ACH to transfer funds either as debits or credits between participating institutions. Most banks, but not all banks, in the US participate in this association. Typical uses of ACH transactions are for automatic payroll programs, monthly mortgage or membership payments, or among non-profit organizations, as a monthly donor/contribution program.

Related Topics:
United States - National Automated Clearing House Association - Automated Clearing House

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