clearing
noun [ U ]
uk/ˈklɪərɪŋ/ us BANKING, FINANCE
the process by which cheques and other payments are exchanged between customers of different banks:
Check clearing is facilitated by central clearing houses, including the Federal Reserve System.
FINANCE, STOCK MARKET
the process by which shares and money are exchanged at the end of a day of trading on a financial market:
settlement and clearing services for securities
clearing member/corporation/agent No clearing member has ever failed to meet a performance bond call or its delivery obligations.