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clearing |
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clearing Noun an area with few or no trees or shrubs in wooded or overgrown land
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clearing How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| He wanted the firm to take responsibility for his losses since they were the clearing agent. SEC Regulation SHO, under the Securities Exchange Act of 1934, mandates that, if a clearing agent has had a fail-to-deliver position for 13 consecutive settlement days, that clearing agent, and the broker/dealer it clears for, must purchase securities to close out its fail to deliver position. When a penny-stock promoter failed in February 1995, the resulting mess unexpectedly claimed its clearing agent as well, leaving stock speculators and a bankruptcy trustee at war over the wreckage, and the blame. |
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