Common
Clearing house (finance)
Financial institution that provides clearing and settlement services
Clearing house (finance)
A clearing house, often written as clearinghouse, is a financial institution formed to facilitate the exchange (i.e., clearance) of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms (also known as member firms or participants). Its purpose is to reduce the risk of a member firm failing to honor its trade settlement obligations. A clearing house provides emergency lending and assists banks when they need help.
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