clearing activity definition

clearing activity in relation to a bank, means the transmission, reconciliation and confirmation of payment orders; daylight overdraft, overnight financing and maintenance of post-settlement balances; and determination of intra-day and final settlement positions in the context of a relationship where the bank provides a service that enables customers to transfer funds (or securities) through direct participants in domestic settlement systems to final recipient;
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clearing activity means any business for which a Clearing Member is subject to the Rules, which is purportedly conducted subject to the Rules, or which should have been conducted subject to the Rules.
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Related to clearing activity

  • Clearing means the clearing and removal of vegetation, whether partially or in whole, including trees and shrubs, as specified;

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Clearing Organization means The Depository Trust Company, or, if agreed to by Borrower and Lender, such other clearing agency at which Borrower (or Borrower's agent) and Lender (or Lender's agent) maintain accounts, or a book-entry system maintained by a Federal Reserve Bank.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.