Clearing member

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In ETD world a clearer of exchange traded derivatives who is a direct member of an exchange, rather than some kind of lesser intermediate broker in the chain, or the client facing executing broker. An executing broker may of course also be a clearing member.

As of June 2021, will be subject to new obligations under the EMIR refit to provide fair, reasonable, non-discriminatory and transparent (FRANDT) commercial terms when offering clearing services.

See also

• FRANDT rules