Non-clearing member (NCM) - Financial definition

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Translations: FR adhérent non compensateur (n.m.) ES miembro no compensador (n.m.) DE Nicht-Clearing-Mitglied (n.n.)

Concise definition of the term non-clearing member

A non-clearing member is an exchange participant that does not possess a license to settle or clear transactions.

Comprehensive definition of the term non-clearing member

Such a participant must enter into a clearing agreement with clearing member who carries out the clearing actions on his behalf.

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