A member of a clearing house attached to an exchange. If a firm is not a clearing member of the exchange, they must arrange to have transactions settled through a clearing member. foreign exchange trades and investments are typically executed through clearinghouses to provide both parties with guarantees of both payment and delivery.
Browse by Subjects
See All Related Terms »
deed of covenant
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):