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.
The Options Clearing Corporation is an example of a clearing house that functions for the purpose of clearing equity options and bond derivatives, in order to ensure the proper implementation of these instruments.n the U.S., the Suffolk Bank opened the first clearing house in 1818 in Boston, and one was incorporated in New York in 1850. A clearing house for bankers was opened in Philadelphia in 1858. The use of clearing houses by financial exchanges is somewhat more novel.