clearinghouse

clearinghouse
A voluntary association composed of banks, the purpose of which is to effect at one place in a city a daily exchange of checks, drafts, and other evidences of indebtedness held by one member and due from another. 10 Am J2d Banks § 838; an organization within a stock or commodity exchange which acts as a universal go-between or clearinghouse, for the debits and credits of its members with one another. At the close of each day's business all of these transactions are reported to the association, which then becomes the opposite party to the transactions of each member for the purpose of offsetting the same. 50 Am J1st Stock Ex § 20.

Ballentine's law dictionary. . 1998.

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  • clearinghouse — clear·ing·house / klir iŋ ˌhau̇s/ n: an institution that arranges for payment of checks owed by one bank to another Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. clearinghouse …   Law dictionary

  • Clearinghouse — (spr. Klihringhaus), börsenartige Anstalt in London, welche zur Regulirung des Wechselverkehrs dient, indem daselbst die Londoner Bankers die auf sie gezogenen Wechsel durch Eintausch derselben gegen solche, die auf andere gezogen sind, einlösen …   Pierer's Universal-Lexikon

  • Clearinghouse — (engl., spr. kliringhaus), Liquidations oder Abrechnungsbureau, Anstalt in London, wo Londoner Bankfirmen täglich durch ihre Kommis (Clearing clercs) gegenseitige Forderungen und Guthaben ausgleichen. Ähnliche Einrichtungen auch in andern Ländern …   Kleines Konversations-Lexikon

  • Clearinghouse — (Klihringhous), Liquidationscomptoir, kaufmännisches Institut in London zur Abrechnung und Ausgleichung von gegenseitigen Wechselrechnungen; dazu hat jedes betreffende Haus einen bevollmächtigten Commis, den clearing clerc …   Herders Conversations-Lexikon

  • clearinghouse — 1832, from CLEARING (Cf. clearing) + HOUSE (Cf. house). The original was established 1775 in London by the bankers for the adjustment of their mutual claims for checks and bills; later the word was extended to similar institutions …   Etymology dictionary

  • clearinghouse — [klir′iŋhous΄] n. 1. an office maintained by a group of banks as a center for exchanging checks drawn against one another, balancing accounts, etc. 2. a central office, as for the collection and dissemination of information …   English World dictionary

  • clearinghouse — /klear ing hows /, n., pl. clearinghouses / how ziz/. 1. a place or institution where mutual claims and accounts are settled, as between banks. 2. a central institution or agency for the collection, maintenance, and distribution of materials,… …   Universalium

  • clearinghouse — n. a clearinghouse for (a clearinghouse for information) * * * a clearinghouse for (a clearinghouse for information) …   Combinatory dictionary

  • clearinghouse — ˈ ̷ ̷ ̷ ̷ˌ ̷ ̷ noun 1. : an institution or establishment for carrying on the business of clearing 2. : an agency for collection, classification, and distribution especially of information or other matter or items requiring wide distribution… …   Useful english dictionary

  • Clearinghouse — Ein Clearinghouse oder eine Clearinggesellschaft (im Englischen auch als Custody bezeichnet) ist ein Unternehmen oder eine Institution die im Finanzbereich für das Clearing und Settlement von Wertpapiertransaktionen zuständig ist und meist auch… …   Deutsch Wikipedia

  • clearinghouse — An agency or separate corporation of a futures exchange that is responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery, and reporting trading data. Clearinghouses act as third… …   Financial and business terms

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