CONTENTS The Federal Reserve Wire Transfer Network An Overview of the Operations of The Options Clearing Corporation Clearing and Settlement Through the Board of Trade Clearing Corporation The Chicago Mercantile Exchange A Study of Large-Dollar Payment Flows Through CHIPS and Fedwire Securities Lending CHAPS: The Clearing House Automated Payment System CHIPS: The Clearing House Interbank Payments System Trading of Foreign Currency Options and Futures in Philadelphia The International Money Markets in London and First Chicago's Role In Clearing and Settling for Dollar Instruments Exchanges and Clearing Houses For Financial Futures and Options in The United Kingdom Clearing and Settling the Euro-Securities Market: Euro-Clear and Cedel