A body recognised as a clearing house by the Financial Services Authority (FSA) under Part XVIII of the Financial Services and Markets Act 2000 (FSMA), such that a recognition order is in force in respect of it. As an exempt person, an RCH is exempt from the general prohibition under FSMA in respect of any regulated activity which is carried on for the purposes of, or in connection with, the provision of clearing services by it.
The FSA Handbook sets out the recognition requirements and notification requirements for RCHs (in the Recognised Investment Exchanges and Recognised Clearing Houses sourcebook).
There are currently two RCHs in the UK: London Clearing House and Euroclear UK & Ireland Limited (formerly known as CRESTCo) .
For more information, see the FSA website: .
Related links

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

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