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  5. Clearing House Automated Payment System

Clearing House Automated Payment System

Definition of 'Clearing House Automated Payment System'

System in the UK for making cash payments in sterling. The recipient receives same day funds.

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Related Terms

CHAPSCHIPSClearing HouseSEAQAutomated Pit Trading (ATP) SystemBACSClearing House Interbank Payment SystemNet Margining SystemCentralClearing BankMargin CallWire TransferBilateral PaymentSEAQIStock Exchange Electronic Trading SystemClearing SystemClearing MemberCentral Moneymarkets OfficeDiscount Market DepositAccepting House

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