Board of Trade Clearing Corporation

Board of Trade Clearing Corporation definition - finance
An independent corporation that is responsible for settling all of the trades at the Chicago Board of Trade. It is a guarantor for all the trades it clears. It reconciles the accounts of the clearing member firms daily and sets and adjusts clearing member firm margins when market conditions change.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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