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Clearinghouse

Definition: Association of banks created to exchange checks, drafts, information, and settle account balances among its members. Definition: [crh] An adjunct to a futures exchange through which transactions executed on its Definition: HREF="/?rd=floor">floor where trades are settled by a process of matching purchases and sales. A clearing organization is also charged with Definition: the proper conduct of delivery procedures and the adequate financing of the entire operation.

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