Definitions for "clearing corporation"
An organization which works with the exchanges to handle confirmation, delivery...
registered clearing agency that provides specialized comparison, clearance and settlement services for its members.  A clearing corporation typically offersservices such as automated comparison systems and transaction netting systems.  Compare:  DEPOSITORY.  See:  NATIONAL SECURITIES CLEARING CORPORATION; REGISTERED CLEARING AGENCY.
A central processing mechanism through which financial institutions agree to exchange payment instructions or other financial obligations (e.g. securities). The institutions settle for items exchanged at a designated time based on the rules and procedures of the clearing corporation. In some cases, the clearing corporation may assume significant counterparty, financial, or risk management responsibilities for the clearing system.