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A clearing house is a financial institution formed to facilitate the exchange (i.e., clearance) of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms (also known as member firms or participants). Its purpose is to reduce the risk of a member firm failing to honor its trade settlement ...
1888 – The London Produce Clearing House (LPCH) is established to clear commodities contracts in London. Shares are in public ownership and the company is listed on the London Stock Exchange. 1951 – LPCH is wholly acquired by United Dominions Trust. 1971 – The company is renamed the International Commodities Clearing House (ICCH).
The swaps that must be traded on SEFs are both subject to a CFTC-centralized clearing mandate and have been determined to be "made available to trade" (MAT) by at least one SEF. Four categories of interest rate swaps and two categories of credit default swaps are currently subject to clearing mandates.
The EU is studying how trillions of euros in interest rate swaps positions could be shifted from LSEG's LCH clearing arm in London, where the bulk of the global market is cleared, to rival ...
A central clearing counterparty (CCP), also referred to as a central counterparty, is a financial market infrastructure organization that takes on counterparty credit risk between parties to a transaction and provides clearing and settlement services for trades in foreign exchange, securities, options, and derivative contracts. CCPs are highly ...
An automated clearing house (ACH) is a computer-based electronic network for processing transactions, [1] usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits .
A major clearing house is working on a prototype to explore how a central bank digital currency (CBDC) could be settled if adopted.
The New York Clearing House Association was organized at the Bank Officers meeting on October 4, 1853. There were fifty-seven banks in New York City in 1853. Fifty-two became members of the Association. The first check exchanges at The Clearing House were held on October 11, 1853. The Clearing House does not exchange physical checks any longer.