Clearing member

member of a financial clearinghouse, one who carries out securities trades and other financial transactions for customers (Finance)

A member firm of a clearing house. Each clearing member must also be a member of the exchange. Not all members of the exchange, however, are members of the clearing organization. All trades of a non-clearing member must be registered with, and eventually settled through, a clearing member.

A clearinghouse member responsible for executing client trades. Clearing members also monitor the financial capability of their clients by requiring sufficient margins and position reports.