General Clearing Members

General Clearing Members
( GCM)
Members who are entitled to clear LIFFE transactions made for their own account and for clients. They may also clear transactions made by a non-clearing member under the terms of a standard clearing agreement. LIFFE

Financial and business terms. 2012.

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  • non-clearing member — ( NCM) Firms who are not clearing members of a clearing house, and do not therefore have the capacity to clear. Such firms must use the services of a general clearing member in order to have their trades cleared. They are normally smaller firms… …   Financial and business terms

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