Business / Finance / Clearinghouse: 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 trades of a non-clearing member must be registered with, and eventually settled through, a clearing member.
Business / Taxes / Depository Trust And Clearing Corporation (DTCC): The DTCC is the world's largest securities depository, holding trillions of dollars in assets for the members of the financial industry that own the corporation. It is also a national clearinghouse fo MORE
Business / Taxes / Book-Entry Security: Book-entry securities are stocks, bonds, and similar investments whose ownership is recorded electronically rather than in certificate form. When you sell the security, the records are updated, deleti MORE
Business / Finance / Counterparty Risk: Party on the other side of a trade or transaction. MORE
Business / Finance / Book-Entry Securities: System in which securities are not represented by paper certificates but are maintained in computerized records at the Fed in the names of member banks, which in turn keep computer records of the secu MORE
Business / Finance / Delivery Versus Payment: The price fixed by the clearinghouse at which deliveries on futures are invoiced; also the price at which the futures contract is settled when deliveries are made. MORE