clearing member
11non-clearing member — ( NCM) Firms who are not clearing members of a clearing house, and do not therefore have the capacity to clear. Such firms must use the services of a general clearing member in order to have their trades cleared. They are normally smaller firms… …
12Class B clearing member — A non bank member firm whose privileges and rights are limited to conducting proprietary arbitrage in foreign currencies with a single exchange approved bank (See clearing member for details). Chicago Mercantile Exchange Glossary …
13commodities clearing member — (adhérent compensateur en marchandises) ACM An ACM is entitled only to clear and trade commodity futures and options for its own account and for clients. An ACM can clear the trades of NEMs for whom it is the designated clearer. NYSE Euronext… …
14Individual Clearing Member — member of a clearing house who is authorized to clear his own transactions and those of his customers but not those of floor brokers (Finance) …
15Clearing House — An agency or separate corporation of a futures exchange responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery and reporting trading data. Clearing houses act as third parties to… …
16clearing fee indicator — A designation on a trade record which indicates the rate to be paid for clearing services: E = Equity Members, Clearing Members*; L = Lessee/106.F.Employees; B = CBOE Member (trading S&P products only); H = 106.H./J. Firms; C = Non member (… …
17clearing — The procedure through which CME Clearing becomes the buyer to each seller of a futures contract, and the seller to each buyer, and assumes responsibility for protecting buyers and sellers from financial loss by ensuring buyer and seller… …
18clearing margin — Financial safeguards to ensure that clearing members (usually companies or corporations) perform on their customers open futures and options contracts. Clearing margins are distinct from customer margins that individual buyers and sellers of… …
19clearing corporation — An independent corporation that settles all trades made at the Chicago Board of Trade acting as a guarantor for all trades cleared by it, reconciles all clearing member firm accounts each day to ensure that all gains have been credited and all… …
20Member Firm — A broker dealer in which at least one of the principal officers is a member of either the New York Stock Exchange (NYSE), another major stock exchange, a self regulatory organization or a clearing house corporation. Also referred to as clearing… …
