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Definition of 'Clearing Broker'
A member of an exchange that acts as a liaison between an investor and a clearing corporation. A clearing broker helps to ensure that the trade is settled appropriately and the transaction is successful. Clearing brokers are also responsible for maintaining the paper work associated with the clearing and executing of a transaction.
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Investopedia explains 'Clearing Broker'
Clearing brokers are the backbone of the securities market because their expansive knowledge ensures that the system is dependable and efficient. They must also research and confirm the information they are given and manage funds associated with the transaction.
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Ever wonder what happens behind the scenes when you buy or sell a stock? Read on and find out!
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How do you find the right broker for your investment needs? Start by reading our broker tutorial.
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Fee-based accounts were banned in 2007, but a on a practical level, this service remains the same for investors.
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