International Clearing House
From Supply Chain Management Encyclopedia
Russian: Международная клиринговая палата
A clearing house is  an agency or separate corporation of a futures exchange responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery and reporting trading data. Clearing houses act as third parties to all futures and options contracts - as a buyer to every clearing member seller and a seller to every clearing member buyer. In contrast with an arrangement of Intergovernmental Clearing Agreement the clearing house belongs rather to financial products/markets than to countertrading. However, international clearing houses are wider included in transactions on commodity markets. Nevertheless, each futures exchange has its own clearing house.