MARGIN posted by a CLEARING MEMBER with an EXCHANGE on behalf of clients or proprietary accounts. See also INITIAL MARGIN, VARIATION MARGIN.

An EXCHANGE member that is permitted to clear trades directly with the CLEARINGHOUSE, and which can accept trades for other clearing members and NONCLEARING MEMBERS. CLEARINGHOUSE (1) In the DERIVATIVES market, a

System based on due process, serving as a tool and mechanism to settle obligations among group members, like banks.

1. In Banking, it is a bank-operated affiliated agency or facility within a geographical area. It acts as a central site for collecting, exchanging, and settling of checks drawn on each other.

Governor’s or president’s power to pardon a person convicted of a criminal offense or to commute the related sentence. A specially appointed committee is accountable for recommendations.

Website’s users (or visitors) percentage that get to the advertiser’s website by clicking on an advertisement residing on another site. Advertisers use CTR to rate a website. The rate typically ranges from

Active-available state of a hyperlinked icon, image or text area in an electronic document or on a webpage. A user can reach other areas of the same document or the website, or

Mouse clicks or keystrokes a user makes in sequence or as a ‘flow’ while navigating through webpages or websites. Web advertisers custom-tailor their advertisements to this specific customer, by determining the user’s

The shrink-wrap licensing agreement for web software. It is enforceable with the purchase or download a program once an online buyer or user clicks on the ‘I Agree’ button on the webpage.

Same meaning as client-server architecture.

US living trust set up for a period longer than ten years. the trust terminates at the end of the period, and the trust property, typically income producing assets, is returned to

Classification of the long-term weather in a specific area. General weather pattern over a significantly large area of earth’s surface. This weather’s average conditions covering a period of 30 to 35 years,

Art, designs, graphics, and photographs bundled and ready-made with most illustration software packages or even with word procedures. It can be purchased in albums on CDs, or can be downloaded over the

Designed by the US government, it is a stealth chip. Proposed by the US government to be installed in all data communication devices as a national security measure. How this chip works

An OVERTHECOUNTER COMPLEX OPTION that allows the buyer to lock in gains at prespecified evaluation intervals if the option is INTHEMONEY at such points; gains are not relinquished if the market subsequently

Speed of a computer to traverse a number of evenly-spaced pulses generated by a computer’s clock to regulate the switching task of the circuits. Measured in megahertz (MHz) or gigahertz (GHz), clock

1. To complete a deal, discussion, negotiation, or sales presentation. 2. Same meaning as closing price (Definition 2).

Narrow profit margins or spread characterized this market. Contrast to wide market.

The finalizing balance sheet and the firm’s announcement of results to the public is this time period. The time period is typically two months preceding an announcement. Insiders are not allowed to

Option contract whose exercise price and market price of the underlying asset is essentially the same.