A department of an Exchange or a separate legal entity that provides a range of services related to the clearing and settlement of trades and management of risks associated with the resulting contracts. A Clearing House is a central counterparty to all trades, that is, the buyer to every seller and the seller to every buyer
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Bid refers to the price one is willing to pay for a security.
Securities issued to existing investors as on a specific cut-off date, enabling them to buy more securities at a specific price.