Clearing Affirm
Two columns of trade economics face each other across a comparison spine and affirm field by field, each matched pair locking to a tick as it clears.
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Clearing
15 animationsClearing Break
Values compare row by row down two ticket columns and settle level, except one row whose two sides stay apart and flags open as an unresolved break.
CSSClearing Buy-In
A countdown rule runs down against an unfilled delivery slot and, when it expires, a replacement block is sourced in from the market and drops into the gap.
CSSClearing Capture
Trade tickets arrive from both counterparties and dock into a central capture blotter, the blotter's rows filling one by one until the day's flow is captured.
CSSClearing Cycle
A settlement span compresses from T+2 to T+1 against a sweeping clock arc, the deadline marker sliding back a day as the cycle shortens.
CSSClearing DvP
A securities leg and a cash leg advance along facing rails and lock simultaneously at a centre latch, neither able to complete ahead of the other.
CSSClearing Fail
Deliveries step through a settlement gate in sequence until one never arrives, and its empty slot holds open while the queue behind it stalls against the gate.
CSSClearing Margin
An account balance bar sits short of its requirement line, a margin call posts the shortfall in from the right, and the bar settles back level with the line.
CSSClearing Multilateral
Members sit on a ring with obligations crossing the middle between them; the crossing chords fade into a central hub and each member is left holding one net spoke.
CSSClearing Netting
A day's gross obligation bars run out both ways from a centre spine, then collapse inward and resolve to a single net bar on one side.
CSSClearing Novation
A single bilateral obligation running between two counterparties is intercepted by a central counterparty that steps into the middle, and the one line becomes two.
CSSClearing Penalty
A cash penalty accrues against a fail that stays open, climbing one stepped increment per settlement day past a reference rule.
CSSClearing Substitution
A posted collateral block lifts out of a pledge slot and a substitute block drops in behind it, the pledged total never dropping below its coverage line.
CSSClearing Waterfall
A default fund waterfall is walked tranche by tranche from the top, each layer draining to empty before the loss reaches the one beneath it.
CSSClearing Window
A settlement window narrows from both ends while queued instructions drain through the closing gap, the last one clearing as the shutters meet.
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