Clearing house


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CLEARING HOUSE, com. law. Among the English bankers, the clearing house is a place in Lombard street, in London, where the bankers of that city daily settle with each other the balances which they owe, or to which they are entitled. Desks are placed around the room, one of which is appropriated to each banking house, and they are: occupied in alphabetical order. Each clerk has a box or drawer along side of him, and the name of the house he represents is inscribed over his head. A clerk of each house comes in about half past three o'clock in the afternoon, and brings the drafts or checks on the other bankers, which have been paid by his house that day, and deposits them in their proper drawers. The clerk at the desk credits their accounts separately which they have against him, as found in the drawer. Balances are thus struck from all the accounts, and the claims transferred from one to another, until they are so wound up and cancelled, that each clerk has only to settle with two or three others, and the balances are immediately paid. When drafts are paid at so late an hour that they cannot be cleared that day, they are sent to the houses on which they are drawn, to be marked, that is, a memorandum is made on them, and they are to be cleared the next day. See Gilbert's Practical Treatise on Banking, pp. 16-20, Babbage on the Economy of Machines, n. 173, 174; Kelly's Cambist; Byles, on Bills, 106, 110; Pulling's Laws and Customs of London, 437.

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The Clearing House is a banking association and payments company that is owned by the largest commercial banks and dates back to 1853.
"I am delighted that companies agreed to help shape the Clearing House and become members of an advisory group of the LEP's High Value Manufacturing Business Group," he said.
Furthermore, interoperability between CCPs is expected by the end of this year following agreement between regulators and clearing houses on inter-CCP risk management.
Most delegates agreed on the need to include such a provision, with many arguing for the creation of one clearing house performing the activities set out in the new agreement.
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Whether you are buying or selling packaging, when you call McKernan Packaging Clearing House, you will speak with a real person.
Intercontinental Exchange is a leading operator of global exchanges and clearing houses and provider of data and listings services.
In addition to the audited statement of NCB / LC; BCMs shall continue to submit monthly statement of Net Capital balance (NCB) and Liquid Capital (LC) with securities exchange and clearing house as per Regulation 6.3.
ISLAMABAD -- The National Accountability Bureau (NAB) Rawalpindi on Thursdayfiled a reference in the accountability court of Islamabad against former secretary and other senior officials of the information technology (IT) ministry for their alleged involvement in establishing an international clearing house (ICH) that provided an edge to some telecommunication companies for controlling and receiving international and long distance calls.
As an initial component of the Bakkt offering, Intercontinental Exchange's U.S.-based futures exchange and clearing house plan to launch a 1-day physically delivered Bitcoin contract along with physical warehousing in November 2018, subject to CFTC review and approval.
The Bangko Sentral ng Pilipinas (BSP) on Monday launched its latest automated clearing house that allows real-time electronic payments of up to P50,000 per day.
Bankart, a clearing house and payment processor in Slovenia, has said that it has tied up with Comforte, a provider of data protection & digital payments solutions.

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