Amount of Time Off. To qualify for time off through FMLA, employees must be employed for at least 12 months and have worked a minimum of 1,250 hours. The 12 month period does not have to be consecutive, but does need to take place within a seven year period.
A clearing house is a financial institution that provides clearing and settlement services for financial and commodities derivatives and securities transactions. These transactions may be executed on a futures exchange or securities exchange, as well as off-exchange in the over-the-counter (OTC) market.
DEFINITION of 'Fixed Income Clearing Corporation (FICC)'. An agency that deals with the confirmation, settlement and delivery of fixed-income assets in the U.S. The agency ensures the systematic and efficient settlement of U.S. Government securities and mortgage-backed security transactions in the market.Next Up.he clearing corporation is divided into two sections: the government securities division and the mortgage-backed securities division.