term has three applications.
In general, the striking of a balance between two or more parties
having mutual dealings with one another and the payment of the debit balance
by the debtor (debtors) to the creditor (creditors).
2. The striking of balances among members of a CLEARINGHOUSE
The process by which purchases and sales of securities among brokers
are determined and the balances paid off at the stock exchange clearinghouse;
the process by which interbroker, non-clearinghouse securities transactions
or produce exchange transactions are paid off.