- clear
- The process by which a clearinghouse maintains records of all trades and settles margin flow on a daily mark-to-market basis for its clearing member. Chicago Board of Trade glossary————The collection of funds on which a check is drawn and the subsequent payment of these funds to the holder of the check. American Banker Glossary————To settle a trade by the seller delivering securities and the buyer delivering funds in the proper form. A trade that does not clear is said to fail. comparison of the details of a transaction between broker-dealers prior to settlement; final exchange of securities for cash on delivery. Bloomberg Financial Dictionary————clear/clearanceGoods are cleared when HM Customs and Excise have accepted a declaration for them and formally released them for import or export. HM Customs & Revenue Glossary
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clear clear [klɪə ǁ klɪr] verb [transitive]1. to give permission for a product to be sold or for a deal to be made:• The drug has been cleared by the Food and Drug Administration.
• Venezuela's congress cleared the sale of the state telephone company CANTV.
2. BANKING FINANCE clear trades/transactions to make payments relating to trading on financial markets or trading of goods:• About 1,000 small brokerage firms are using the company to clear and settle their trades.
• It takes ages for the banks here to clear transactions and it's very expensive.
3. BANKING clear a cheque if a bank clears a cheque, or if a cheque clears, the money is sent from one bank to another and the cheque is paid:• The fraud relied on managers returning money before the original cheque had cleared.
4. COMMERCE clear something through Customs/clear Customs to be allowed to take things through Customs:• Bribery is needed to get goods cleared through customs.
• They cleared customs, but never boarded their flight.
5. FINANCE clear a debt to pay a debt in full:• The Ivory Coast cleared its debts of $42m.
6. informal to earn a particular amount of money, or to make a particular amount of profit:• Diane clears £20,000 a year.
7. COMMERCE to sell goods cheaply in order to get rid of them:• We need to clear the old stock before we can bring in this season's range of products.
to sell goods cheaply in order to get rid of them:• Ford is offering discounts in order to clear out last year's models.
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clear UK US /klɪər/ verb► [T] FINANCE if you clear a debt, you pay back all of the money that you owe: »Customers should consider clearing their overdrafts and credit card debt before applying for a home loan.
»By cutting costs and scaling back production, the company managed to clear its debts in under two years.
► [T] INFORMAL FINANCE to have a particular sum of money left from the amount you have earned after taxes, etc. have been taken out: »A city police officer clears about $1,300 every other week.
► [T] ACCOUNTING to have a particular amount of money as profit: »After operating expenses, the resort group cleared $546 million.
► [I or T] BANKING if a cheque or payment clears, or if a bank clears it, money is available because it has been successfully paid from one bank to another: »You will not be able to withdraw funds until the bank has cleared your cheque.
»International wire transfers may take several business days to clear.
► [T] FINANCE to arrange for shares and money to be exchanged at the end of a day of trading on a financial market► [T] to give or get official permission for something: clear sth with sb »Make sure you clear the budget with you boss first.
be cleared for sth »Passenger flights outbound from the airport are often cleared for take off only 60 seconds apart.
be cleared by sb/sth »Employees were cleared by security before they were allowed into the building.
»clear a proposal/deal/plan
► [T] LAW to prove that someone is not guilty of something: clear sb of sth »An independent review has cleared the company of all charges of fraud.
»Accused of professional misconduct, he was eventually able to clear his name.
► [T] COMMERCE to sell products at a cheap price in order to get rid of them: »Bob's Auto Dealers is having a huge sale to clear its inventory of last year's trucks.
Financial and business terms. 2012.
