Buyers need to register with a financial clearing-house and download the necessary software to open the container and reveal the goodies inside.
So, for example, the European Central Bank (ECB) couldn't demand that all financial clearing houses that deal in euros be located in a eurozone economy.
It checks a user's identity, looks up his rights, contacts a financial clearing-house to arrange payment and, if everything is in order, decrypts the digital work.
Clearing is trying to take advantage of the trends coming out of the financial crisis, in which more products are going to be put into clearing houses.
Walter Lukken: New York Portfolio Clearing is trying to take advantage of the trends coming out of the financial crisis, in which more products are going to be put into clearing houses.
It also insists that the deal is an essential part of clearing up Iceland's financial mess.
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"The real business in securities is clearing and settlement, " says Caldwell of Caldwell Financial.
If these products that got to be so large can have that much impact on systemic risk in the U.S. financial system, I think the dealers have to accept that central clearing and some transparency is a price of wanting to be in those businesses.
Bovespa provides trading, clearing, custody, and other services with regulation of the financial markets by the Securities and Exchange Commission of Brazil.
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The Bank of New York Mellon Co. is a financial holding company, providing investment servicing (like asset servicing, issuer services, clearing services) and investment management services to institutional investors, which includes mutual funds, collective investment funds and other investment pools, corporate and public retirement plans, insurance companies, foundations, endowments and investment managers, around the world.
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" According to the Financial Times of 27 July, "Much of the money would presumably be spent on clearing up delayed payments to Italian companies.
The deal would give LSE its own clearing house at a time when regulators are pushing for greater use of the facilities to protect the financial system.
The new regulation is a part of the Dodd-Frank financial reform act, under which the Commodity Futures Trading Commission (CFTC) proposed rules for how OTC derivatives clearing houses should be regulated.
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