Clearing system

A centralised system(also known as a clearance system or a clearing house) to settle payments or facilitate transactions between banks and financial counterparties, such as the transfer of securities. In the markets, the clearing process is performed by a clearing house.

Examples:

• Europe: Euroclear Let me Google that for you and Clearstream Let me Google that for you
• US: The Depository Trust Company Trust Company+{{{2}}}+{{{3}}} Let me Google that for you