CLEARING MEMBER
clearing member: translation
A member of an exchange clearinghouse. Memberships in clearing organizations are usually held by companies. Clearing members are responsible for the financial commitments of customers that clear through their firm. Chicago Board of Trade glossary
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A clearinghouse member responsible for executing client trades. Clearing members also monitor the financial capability of their clients by requiring sufficient margins and position reports. The CENTER ONLINE Futures Glossary
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A member firm of a clearing house.Each clearing member must also be a member of the exchange. Not all members of the exchange, however, are members of the clearing organization. All trade of a non-clearing member must be registered with, and eventually settled through, a clearing member. Bloomberg Financial Dictionary
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A firm qualified and approved to clear trades through the CME clearing house. All clearing members not specifically designated as Class B members are considered Class A clearing members. There are three categories of clearing members:1) CME clearing members, qualified to clear transactions for all commodities;2) IMM clearing members, qualified to clear trades for only IMM and IOM commodities; and3) IMM Class B clearing members, solely limited to conducting proprietary arbitrage in foreign currencies between a single exchange-approved bank and the IMM, and who must be guaranteed by one or more Class A non-bank CME or IMM clearing member( s). Chicago Mercantile Exchange Glossary
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An entity which is a member of a clearing house and thus has the ability to clear transactions. Contrast with a non-clearing member, who cannot clear directly via the clearing house, and must therefore employ the services of a clearing member to clear trades on his behalf. Dresdner Kleinwort Wasserstein financial glossary
See also general clearing member and individual clearing member. Dresdner Kleinwort Wasserstein financial glossary
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A member of a clearing house that is permitted by the clearing house to clear trades with that clearing house. Euroclear Clearing and Settlement glossary
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A member firm of a clearing house. Exchange Handbook Glossary