From Longman Business Dictionaryclearerclear‧er /ˈklɪərəˈklɪrər/ noun [countable usually plural]1BANKING a bank that clears chequesSYNCLEARING BANKCompare Lloyds TSB, the smallest of the big four clearers, with HSBC.2FINANCE an organization that makes payments between banks and other financial institutionsSYNCLEARING HOUSETechnology is forcing change among the clearers - the houses that clear and settle the trades carried out on the world’s markets.
