Regulators should monitor and test implementation of the clearing
banks' plans to satisfy the regulators' sound practices and implementation timelines for core clearing
and settlement organizations as described in the Interagency Paper on Sound Practices to Strengthen the Resilience of the U.
The VSoft implementation will allow PCHC to provide image capture and exchange of check images, ultimately integrating the country into a single clearing
region with improvement in the overall clearing
To preserve their financial integrity and to minimize the likelihood of systemic consequences, clearing
organizations have instituted risk-management systems.
Pendergraft, CEO and co-founder of Penson, said the acquisition demonstrates the increasing value of outsourced clearing
services to the securities industry.
Accordingly, while the model of clearing
and settlement described here applies to large-value payments, the form the payment process takes has become rather specialized, often involving clearing
organizations that ensure that payment in good funds is made against delivery for the contract in question (delivery-versus-payment systems) and that increasingly perform a multilateral netting of such contracts among those trading in the instruments to reduce the total value of individual deliveries and payments that must be completed.
It will further strengthen our ability to help our clients maintain their competitive edge through our comprehensive range of flexible global correspondent execution, clearing
, settlement, custody and technology solutions.
Under the agreement, BSG will continue to provide GSM financial clearing
and settlement services for their international roaming partners, including determining operators' net cash positions and transacting foreign exchange of funds across various currencies.
The agreement with FNBB adds a key market as Fiserv builds a nationwide network for clearing
and settling checks, according to Mark Damico, president of the Fiserv Item Processing Group.
Solutions (LSE:BILL), a global provider of clearing
and settlement, payment services, and financial risk management solutions for communications service providers, today announced that Alaska Wireless Communications LLC, a GSM mobile operator serving Alaska's Dutch Harbor region, has selected BSG for financial clearing
and settlement services through United Clearing
Cincinnati Bell is a highly respected wireless provider," said Atul Devani, Chief Executive of Wireless Services for BSG Clearing
Solutions and former CEO of United Clearing
We see strong, sustainable growth as the North American GSM market adopts subscribers in large numbers," said Patrick Haynes III, CEO of BSG Clearing
Solutions began successful merchant implementations and processing of consumer credit cards approximately six months ago, and currently supports merchants in the telecom and ecommerce industries.
Fortis will combine its existing Chicago clearing
operations with O'Connor, more than tripling its size and presence in this market.
The Fiserv Clearing
Network is currently operating in five Fiserv check processing facilities; additional locations are expected to open by year-end.
Under the agreement, CCorp clearing
participants, who are also HedgeStreet members, can permit their customers to trade HedgeStreet products in the same way contracts are traded on other exchanges.