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Topic: Clearing (finance)

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	Clearing and settlement demystified Chicago Fed Letter - Find Articles
		Clearing and settlement usually begin with capturing trade data and ensuring that (if not performed already by an organized market) the specific terms of buyers' and sellers' trade records match correctly (as a mirror image of the other).
		The clearing and settlement of securities can be highly automated if the securities are accounted for electronically and if there are few securities depositories that account for the ownership of such "book-entry" securities.
		There are significant network externalities associated with clearing: It is efficient for market participants to clear and hold their securities where other market participants clear and hold their securities.
	findarticles.com /p/articles/mi_qa3631/is_200501/ai_n9468828 (886 words)

	Clearing (finance) - Wikipedia, the free encyclopedia
		In banking and finance, clearing denotes all activities from the time a transaction is made until it is finally settled (see settlement).
		Some of the activities in clearing are reporting/monitoring, risk margining, netting of trades to single positions, tax handling, and failure handling.
		Clearing generally involves the use of a well capitalised financial institution known as a central counterparty (CCP).
	en.wikipedia.org /wiki/Clearing_(finance) (290 words)

	Lalor, Cyclopaedia of Political Science, V.1, Entry 233, CLEARING, AND CLEARING HOUSES: Library of Economics and Liberty
		Clearing is used in Great Britain to adjust the complicated accounts of the through traffic of connecting railroads, and to simplify the fortnightly deliveries of stock on the London stock exchange.
		The constitution of the clearing house of New York city provides that for sufficient cause any bank whatever may be expelled from the clearing house by a majority of its associates, and at the same time vests a still more summary power of instant suspension in a standing committee.
		Clearings are affected by such episodes as the gold speculation in New York in 1869, with the collapse of Black Friday and the yellow fever in Memphis in 1879.
	www.econlib.org /LIBRARY/YPDBooks/Lalor/llCy233.html (3158 words)

	WeekendRUSH Money - Finance & Investing
		Clear: The process by which a clearinghouse maintains records of all trades and settles margin flow on a daily mark-to-market basis for its clearing member.
		Clearing margins are distinct from customer margins that individual buyers and sellers of futures and options contracts are required to deposit with brokers.
		Clearing members are responsible for the financial commitments of customers that clear through their firm.
	finance.weekendrush.com /investing/futures/glossary (6960 words)

	Clearing House
		All members of an exchange are required to clear their trades through the clearing house at the end of each trading session and to deposit with the clearing house a sum of money (based on clearinghouse margin requirements) sufficient to cover the member's debit balance.
		Assuming that this is the broker's only position in futures and that the clearing house margin is six cents per bushel, this would mean the broker would be required to have $3,000 on deposit with the clearing house.
		Because all members are required to clear their trades through the clearing house and must maintain sufficient funds to cover their debit balances, the clearing house is responsible to all members for the fulfillment of the contracts.
	baystreet.investopedia.com /terms/c/clearinghouse.asp (329 words)

	Personal Finance: Money 101: Glossary
		Financing required for the operation of a business, composed of long-term and working capital plus fixed assets.
		A clearing organization is also charged with the proper conduct of delivery procedures and the adequate financing of the entire operation.
		Describes the tendary of funds or investments to be followed by groups of investors who have a similar preferences that the firm follow a particular financing policy, such as the amount of leverage it uses.
	money.cnn.com /services/glossary/c.html (9848 words)

	FINANCE - BUSINESS NEWS - Comcast.net
		The state-owned clearing house has recorded losses totaling more than $12.1 billion and is being kept afloat by central bank lending, the financial magazine Caijing reported in its latest issue.
		The mess at the clearing house is yet another headache for China's beleaguered stock regulators, who are struggling to restore investor confidence shaken by scandals, poor corporate performance and a government plan to reform state shareholdings that has investors scared the markets will be flooded with new shares.
		The securities clearing house could by law freeze or seize the accounts of brokerages in default, but it has not done so due to fears such moves would panic already jittery investors, Caijing reported.
	www.comcast.net /finance/business/index.jsp?cat=BUSINESS&fn=/2005/06/16/157437.html (369 words)

	Financial Safeguard System (Site not responding. Last check: 2007-10-10)
		With CME Clearing serving as counterparty to every trade – in the clearing process it becomes the buyer to each seller of a futures contract and the seller to each buyer – the risk of default is greatly reduced.
		CME Clearing, dealing exclusively with clearing members, holds each clearing member accountable for every position it carries regardless of whether the position is being carried for the account of an individual member, for the account of a non-member customer, or for the clearing member’s own account.
		Further, when an individual member executes orders for a clearing member, his or her guarantor clearing member is held accountable as principal for the brokered transaction until the transaction has been matched and recorded by CME Clearing as a transaction of the clearing member for whom the individual member had acted.
	www.cme.com /clearing/set/fs/finsafsys10241.html (5669 words)

	[No title] (Site not responding. Last check: 2007-10-10)
		The director of finance of the State shall be the treasurer and custodian of the fund and shall administer the fund in accordance with directions of the department of labor and industrial relations.
		Except as herein otherwise provided, moneys in the clearing and benefit accounts may be deposited in any depositary bank in which general funds of the State may be deposited, but no public deposit insurance charge or premium shall be paid out of the fund.
		The director of finance shall be liable on the director's official bond for the faithful performance of the director's duties in connection with the unemployment compensation fund provided for under this chapter.
	www.capitol.hawaii.gov /hrscurrent/vol07_ch0346-0398/hrs0383/HRS_0383-0122.htm (350 words)

	Percy Mitchell. The American Relief Clearing House. 1922. Chapters 4-6.
		Clear recognition of this lay at the root of her disingenuous cry for "freedom of the seas," ---which meant, so far as it had any meaning, that while she claimed the right to act on land as she saw fit, the Allies were not to utilize legitimately their maritime resources.
		Not only was the CLEARING HOUSE specially recognized by the French Government as the sole official organization for the distribution of American aid ; it was also asked to exercise a sort of supervisory function as regards persons going to the United States with the object of collecting funds for war charities.
		She was the first to join the feminine forces of the CLEARING HOUSE when it was founded; she remained with it to the end and continued with the Red Cross after that great organization took over the relief work in France.
	net.lib.byu.edu /~rdh7/wwi/memoir/Clearing/arch2.html (10695 words)

	Clearing
		Clearing is a UCAS service that helps people find vacancies on higher education courses.
		Most people who use Clearing have already applied through UCAS but have not secured a place on a course.
		An admissions tutor who is seriously interested in you will ask you to send your CEF, then the university or college will either tell you and us that you have been given a place there, or it will send your CEF back to you so you can deal with another university or college.
	www.ucas.com /getting/clearing (1027 words)

	Managed Accounts Customer Safeguards - Prevent the accumulation of losses, Ensure sufficient resources available to ...
		Its purpose is to protect all clearing members and their customers from the consequences of a default by a participant in the clearing process.
		Conversely, as the contra-side to every position, the Clearing House is held accountable to the clearing members for the net settlement from all transactions on which it has been substituted as provided in the Rules.
		Further, when an individual member executes orders for a clearing member, his or her guarantor clearing member is held accountable as principal for the brokered transaction until the transaction has been matched and recorded by the Clearing House as a transaction of the clearing member for whom the individual member had acted.
	www.ma-research.com /customer_safeguards.html (672 words)

	rediff.com: Banks set to begin dollar clearing in India
		Armed with the approval of the US Federal Reserve, domestic banks are set to kick off clearing of all inter-bank dollar transactions on Indian shores in the first week of November.
		CCIL chairman R H Patil said clearing of the first lot of dollar transactions is expected to take place on November 6.
		At present, all inter-bank dollar transactions are cleared in the US on a gross basis through correspondent banking arrangement with various banks.
	www.rediff.com /money/2002/oct/28dollar.htm (298 words)

	Clearing House
		All members of an exchange are required to clear their trades through the clearing house at the end of each trading session and to deposit with the clearing house a sum of money (based on clearinghouse margin requirements) sufficient to cover the member's debit balance.
		Assuming that this is the broker's only position in futures and that the clearing house margin is six cents per bushel, this would mean the broker would be required to have $3,000 on deposit with the clearing house.
		Because all members are required to clear their trades through the clearing house and must maintain sufficient funds to cover their debit balances, the clearing house is responsible to all members for the fulfillment of the contracts.
	www.investopedia.com /terms/c/clearinghouse.asp (473 words)

	MP-4, Part V, Appendix I
		This is a debit or credit balance (statistical) account maintained at the VA Finance Center, Austin in the "Other" series of general ledger accounts by receipt account symbol to show the amount of miscellaneous general fund receipts deposited into the Treasury as a result of payroll deductions.
		This is a debit balance (statistical) account maintained at the VA Finance Center, Austin in the "Other" series of accounts by receipt account symbol to show the net amount of general fund receipts not accomplished by the regional disbursing offices.
		This is a credit balance (statistical) account maintained at the VA Finance Center, Austin in the "Otber" series of general ledger accounts to show the accumulated gross amounts of reemployed annuitant retirement fund deductions to the credit of the employee.
	www.va.gov /publ/direc/finance/m4p5xI.htm (6893 words)

	Choosing a Credit Card Clearing Service
		Ideally, you should find a clearing service at the same time you are looking for a bankto handle your Internet merchant credit account.
		However, the situation can become acatch-22: The bank will ask you which clearing service you will be using, and the servicewill need to know which bank has given you a merchant account.
		Some clearing services also offer a" virtual terminal," which allows you to issue credits and perform otheradministrative functions such as those available on a regular swipe terminal.
	www.inc.com /articles/1999/10/13789.html (764 words)

	White-papers \| Articles \| Technical papers \| Global clearing and settlement - Failure of a systemically important ...
		In general when we talk about clearing and settlement process, it refers to an organized system or arrangement for the clearing and settlement of payment obligations and transfer of securities among the two parties who have performed the trade.
		Clearing and settlement process is the most essential part of securities trading and it is critical that they function smoothly to boost the confidence of the local investors to go global.
		This white paper discusses the high risks associated with global clearing and settlement process and explains the impact of the failure of a systemically important institution in global clearing and settlement process.
	www.wipro.com /webpages/insights/globalclearing.htm (350 words)

	Business Finance Article Archives
		Thanks to automation, finance executives are entering the new millennium with systems in place that manage cash hourly and in a highly effective manner.
		Finance pros who have been in the business for 25 years have seen cash evolve from essentially unmanageable to routinely micromanaged — which has had a positive impact on the bottom line.
		Business Finance brought together a panel of finance professionals and bankers at the annual conference of the Association for Financial Professionals (formerly the Treasury Management Association) to explore the changing terrain of cash management.
	www.businessfinancemag.com /archives/appfiles/Article.cfm?IssueID=306&ArticleID=13226 (667 words)

	IBM - IBAS Clearing Administration Systems
		Clearing administration systems for the banking and finance industry.
		The software's functionality is based on a single core system, which uses a series of integrated tables, rules and objects, presented in an efficient and user-friendly graphical user interface.
		IBAS Clearing Administration Systems include, but are not limited to, applications for handling clearing message transfers and clearing accounting administration and reconciliation.
	www-304.ibm.com /jct09002c/gsdod/solutiondetails.do?solution=14591&expand=true&lc=en (320 words)

	Clearing function/Finance and economics general term (Site not responding. Last check: 2007-10-10)
		It remits by using the deposit account of the bank by sending the account transfer that receives account pulling down that pays for and other depositors' money and money to another person, and the account is transferred.
		Because it steps on a troublesome procedure when there is no agency with the clearing function and danger is attended, it is indispensable to do the economic activity.
		In this clearing function, a network of a nationwide financial institution and abundant total funds are supported and have been achieved.
	biz.ifmecatch.com /archives/2005/09/clearing_functi.html (153 words)

	Personal Client Privacy Protection
		The accounts of individual members, clearing firms and non-member customers doing business through CME must be carried and guaranteed to the Clearing House by a clearing member.
		The Clearing House is an operating division of the Exchange, and all rights, obligations and/or liabilities of the Clearing House are rights, obligations and/or liabilities of CME.
		The Clearing House, dealing exclusively with clearing members, holds each clearing member accountable for every position it carries regardless of whether the position is being carried for the account of an individual member, for the account of a non-member customer, or for the clearing member's own account.
	www.despenza.com /customer_safeguards.html (746 words)

	Corporates & Institutions - Cash Management \| Clearing Services \| Emerging Markets \| Main
		Clearing is one of the important areas in which you may need support.
		It plays a critical role in enabling smooth international trade and cross-border transactions, but many banks do not have the capacity to dedicate the significant time and resources required to offer their clients this service directly.
		We are in an excellent position to design the clearing service that meets your needs.
	www.standardchartered.com /pe/cib/cm_clearing/emerging_01.html (200 words)

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	www.finance500.com /Publicarea/Disclaimer.asp (525 words)

	Clearing
		Clearing is a UCAS service that helps people find vacancies on higher education courses.
		Those who have offers will receive their Clearing Passport if they become eligible for Clearing (ie if they are turned down by their universities or colleges).
		If a university or college is happy that you meet their requirements and offers you a place, they might ask you to send them your Clearing Passport.
	www.ucas.ac.uk /getting/clearing/index.html (1020 words)

	Amazon.com: Clearing, Settlement and Custody (Securities Institute Operations Management): Books: David Loader (Site not responding. Last check: 2007-10-10)
		The author examines the roles of clearing houses, central counterparties, central securities depositories and the custodians, as well as, assessing the impact on the workflow and procedures in the operations function at banks, brokers and institutions.
		The evolution of clearing and settlement is one that is still happening and as such, it is impacting on the operations function through both new practices but also, increasingly, in terms of regulation, risk and reputation.
		In essence the efficient clearing and settlement operation is managing risk, not because it is a direct part of the process but more because it is a bi-product.
	www.amazon.com /Settlement-Securities-Institute-Operations-Management/dp/0750654848 (1394 words)

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