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London Clearing House |
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London 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).Similar MatchesCredit clearingCredit clearingA system for the distribution of bank giro credits and other credits between banks to enable funds to be transferred into specified accounts. Clearing house interbank payment systemClearing house interbank payment systemA computerised payment system for clearing cheques in New York. Clearing corporationsClearing corporationsOrganizations that are affiliated with exchanges and are used to complete securities transactions by taking care of validation, delivery, and settlement. 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. National Securities Clearing Corporation (NSCC)National Securities Clearing Corporation (NSCC)A clearing corporation that facilitates the settlement of accounts among brokerage firms, exchanges, and other clearing corporations. Further SuggestionsclearingNonclearing member Market clearing Check clearing Bankers Automated Clearing Services National Securities Clearing Corporation Clearing House Electronic Subregister System (CHESS) Recognised Clearing House Clearing House Interbank Payments System (CHIPS) Market clearing inter bank clearing clearing house Clearing system Options Clearing Corporation (OCC) Joint clearing members Clearing House Automated Payments System (CHAPS) Clearinghouse Options Clearing Corporation Mortgage Backed Securities Clearing Corporation (MBSCC) clearing house automated payment system Automated Clearing House (ACH) cheque clearing Clearing house funds inter branch clearing |
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