clear·ing·house /'klir-iŋ-ˌhau̇s/ n: an institution that arranges for payment of checks owed by one bank to another

Merriam-Webster’s Dictionary of Law. . 1996.

A banking establishment where member banks exchange checks and bills all at once, paying only the balances in cash so as to settle daily accounts conveniently.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

A body through which futures or commodity trading takes place. It monitors transactions and provides a system for financial settlement. For exchange contracts, namely, transactions conducted through clearing houses, the clearing house also acts as an intermediary for all contracts between brokers. Thus, for any purchase by a client, the broker will have an equal and off-setting purchase contract with the clearing house which will in turn have an equal and off-setting purchase contract with another broker. As a result, the clearing house is exposed to a member's insolvency and guards against this by having rules requiring a margin to be paid, and by having the ability to force a member to close out a position by buying and selling futures on its behalf.
+ clearinghouse
An entity that functions as a centralized repository for trades, typically in derivatives, which provides a guaranty that the trade will be fulfilled so that the parties engaging in derivatives trades may avoid assuming the credit risk of their trading counterparties.
Related terms

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

1 A place where banks daily exchange the checks, drafts, and other forms of indebtedness that are held by one bank and owed to another, and settle their balances all at one time.
2 A place where brokers in stock or commodities exchanges daily settle their debits and credits with one another.
3 A place for the exchange of information concerning a specific topic.

Webster's New World Law Dictionary. . 2000.

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Look at other dictionaries:

  • Clearinghouse — (spr. Klihringhaus), börsenartige Anstalt in London, welche zur Regulirung des Wechselverkehrs dient, indem daselbst die Londoner Bankers die auf sie gezogenen Wechsel durch Eintausch derselben gegen solche, die auf andere gezogen sind, einlösen …   Pierer's Universal-Lexikon

  • Clearinghouse — (engl., spr. kliringhaus), Liquidations oder Abrechnungsbureau, Anstalt in London, wo Londoner Bankfirmen täglich durch ihre Kommis (Clearing clercs) gegenseitige Forderungen und Guthaben ausgleichen. Ähnliche Einrichtungen auch in andern Ländern …   Kleines Konversations-Lexikon

  • Clearinghouse — (Klihringhous), Liquidationscomptoir, kaufmännisches Institut in London zur Abrechnung und Ausgleichung von gegenseitigen Wechselrechnungen; dazu hat jedes betreffende Haus einen bevollmächtigten Commis, den clearing clerc …   Herders Conversations-Lexikon

  • clearinghouse — 1832, from CLEARING (Cf. clearing) + HOUSE (Cf. house). The original was established 1775 in London by the bankers for the adjustment of their mutual claims for checks and bills; later the word was extended to similar institutions …   Etymology dictionary

  • clearinghouse — [klir′iŋhous΄] n. 1. an office maintained by a group of banks as a center for exchanging checks drawn against one another, balancing accounts, etc. 2. a central office, as for the collection and dissemination of information …   English World dictionary

  • clearinghouse — /klear ing hows /, n., pl. clearinghouses / how ziz/. 1. a place or institution where mutual claims and accounts are settled, as between banks. 2. a central institution or agency for the collection, maintenance, and distribution of materials,… …   Universalium

  • clearinghouse — n. a clearinghouse for (a clearinghouse for information) * * * a clearinghouse for (a clearinghouse for information) …   Combinatory dictionary

  • clearinghouse — ˈ ̷ ̷ ̷ ̷ˌ ̷ ̷ noun 1. : an institution or establishment for carrying on the business of clearing 2. : an agency for collection, classification, and distribution especially of information or other matter or items requiring wide distribution… …   Useful english dictionary

  • Clearinghouse — Ein Clearinghouse oder eine Clearinggesellschaft (im Englischen auch als Custody bezeichnet) ist ein Unternehmen oder eine Institution die im Finanzbereich für das Clearing und Settlement von Wertpapiertransaktionen zuständig ist und meist auch… …   Deutsch Wikipedia

  • clearinghouse — An agency or separate corporation of a futures exchange that is responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery, and reporting trading data. Clearinghouses act as third… …   Financial and business terms

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