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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 MatchesRecognised 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). Clearing House Interbank Payments System (CHIPS)Clearing House Interbank Payments System (CHIPS)An international wire transfer system for high-value payments operated by a group of major banks. Joint clearing membersJoint clearing membersFirms that clear on more than one exchange. Inter bank clearingInter bank clearingThe process of payment clearance between two banks. 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 SuggestionsCheck clearingMarket clearing inter branch clearing Market clearing Options Clearing Corporation (OCC) clearing house automated payment system Clearing House Automated Payments System (CHAPS) Clearing corporations Automated Clearing House (ACH) Clearing house funds Clearing House Electronic Subregister System (CHESS) Options Clearing Corporation Clearinghouse clearing house cheque clearing Clearing system clearing house interbank payment system Nonclearing member National Securities Clearing Corporation Clearing member clearing credit clearing Mortgage Backed Securities Clearing Corporation (MBSCC) Bankers Automated Clearing Services |
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