A series of procedures to take up the settlement obligations by fixing the claims and obligations of transactions through netting settlement instruction to settlement organizations, 'Clearing' includes the verification of clearing eligible transactions for clearing, assumption of obligations, netting, determination of settlement amount, notification of settlement amount, receipt of and delivering settlement amount, settlement instruction, default management, etc.
by intervening in the original transaction by becoming a counterparty to the original counterparty, Central Counter-party, CCP
→ If the multi-party relations are converted into two-party relations between a CCP and members, netting of settlement amount is possible between transactions on different dates.
Termination of transactions by fulfilling claims and obligations between the CCP and members, i.e. the act of receiving and paying funds. The claims and obligations are fixed via clearing by the CCP.