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Inter bank clearing |
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Inter bank clearingThe process of payment clearance between two banks.Similar MatchesClearing 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. Automated Clearing House (ACH)Automated Clearing House (ACH)A collection of 32 regional electronic interbank networks used to process transactions electronically with a guaranteed one-day bank collection float. Recognised Clearing HouseRecognised Clearing HouseA clearing house which meets the requirements for recognition under the Financial Services Act 1986 and is approved by the Financial Services Authority (FSA). 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). Clearing House Automated Payments System (CHAPS)Clearing House Automated Payments System (CHAPS)A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment Clearing Services (APACS). Further SuggestionsClearing corporationsOptions Clearing Corporation (OCC) Clearing House Electronic Subregister System (CHESS) Options Clearing Corporation Mortgage Backed Securities Clearing Corporation (MBSCC) cheque clearing clearing house automated payment system Check clearing clearing Market clearing Clearing House Interbank Payments System (CHIPS) Bankers Automated Clearing Services Clearing house funds inter branch clearing clearing house interbank payment system clearing house Nonclearing member Market clearing Clearing system credit clearing Joint clearing members National Securities Clearing Corporation (NSCC) Clearinghouse National Securities Clearing Corporation |
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