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Cheque clearing |
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Cheque clearingA system which enables cheques to be transmitted between banks (and between branches) in order to transfer funds.Similar MatchesClearing House Electronic Subregister System (CHESS)Clearing House Electronic Subregister System (CHESS)CHESS is the automatic transfer and settlement system for the majority of Australian Stock Exchange (ASX) listed securities. Options Clearing CorporationOptions Clearing CorporationIn the US, the OCC is the body which clears options transactions. Founded in 1973, OCC is the largest clearing organisation in the world for financial derivatives instruments. Operating under the jurisdiction of the Securities and Exchange Commission, OCC is the issuer and registered clearing facility for all US exchange-listed securities options. OCC issues put and call options on several types of underlying assets including common stocks and other equity issues, stock indexes, foreign currencies and interest rate composites. URL: http://www.optionsclearing.com Clearing house interbank payment systemClearing house interbank payment systemA computerised payment system for clearing cheques in New York. Clearing memberClearing memberA member firm of a clearing house. Each clearing member must also be a member of the exchange. Not all members of the exchange, however, are members of the clearing organization. All trades of a non-clearing member must be registered with, and eventually settled through, a clearing member. London Clearing HouseLondon Clearing HouseThe organisation founded in 1888 to clear sugar and coffee trades in London, originally known as the London Produce Clearing House. Once LCH has registered a trade, it becomes the buyer to every LCH Member who sells and seller to every LCH Member who buys, thereby guaranteeing that the financial obligations of trades are met.The LCH clears trades conducted on the International Petroleum Exchange (IPE), the London International Financial Futures Exchange (LIFFE) incorporating the London Commodity Exchange (LCE), the London Stock Exchange and the London Metal Exchange (LME). It is owned by the major UK clearing banks (Barclays, LloydsTSB, HSBC, NatWest, Royal Bank of Scotland and Standard Chartered) and is a Recognised Clearing House under the regulatory supervision of the Financial Services Authority (FSA). Further SuggestionsClearing corporationsclearing house National Securities Clearing Corporation Nonclearing member Market clearing Recognised Clearing House Clearing house funds credit clearing Joint clearing members Clearing system Automated Clearing House (ACH) clearing house automated payment system Mortgage Backed Securities Clearing Corporation (MBSCC) Bankers Automated Clearing Services Market clearing Check clearing Clearing House Interbank Payments System (CHIPS) Options Clearing Corporation (OCC) National Securities Clearing Corporation (NSCC) clearing inter bank clearing Clearinghouse Clearing House Automated Payments System (CHAPS) inter branch clearing |
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