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License Guide Oracle FLEXIBLE Universal Banking Release 11.3.83.02.0 April 2014 Oracle Part Number E53607-01 License Guide Table of Contents 1. PREFACE ........................................................................................................................................................
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What is clearing?
Clearing is the process of settling financial transactions by transferring funds between two parties.
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Certain financial institutions are required to file clearing, such as banks and brokerage firms.
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Clearing can be filled out electronically or through paper forms, depending on the requirements of the regulatory body.
What is the purpose of clearing?
The purpose of clearing is to ensure that financial transactions are settled accurately and efficiently.
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Information such as transaction details, parties involved, and amounts transferred must be reported on clearing.
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