S3 - 1.2 Flashcards
1
Q
Who are Clearing Houses affiliated with?
A
Exchanges and FCMs
2
Q
Is a Clearing House and FCM the same thing?
A
YES
3
Q
How are the clearing house and floor broker related?
A
Floor broker works FOR the exchange, but WITH a the exchange’s Clearing House to clear trades
4
Q
What the other side of a Clearing House (or FCM)?
A
Corresponding firm
5
Q
What the other side of a Corresponding firm?
A
FCM (or Clearing House)
