clearinghouse
UK: ˈklɪərɪŋhaʊs | US: ˈklɪrɪŋhaʊs
n. A central agency or institution that collects, processes, and distributes information or financial transactions.
n. A physical or virtual space where data or payments are exchanged and reconciled.
The term "clearinghouse" originated in the 18th century, combining "clearing" (from "clear," meaning to settle or resolve) and "house" (a place of business). It initially referred to a financial institution where banks exchanged checks and settled balances. Over time, the concept expanded to include any centralized hub for processing transactions or information, reflecting its logical progression from physical clearing to abstract data management.
The stock exchange acts as a clearinghouse for securities trades.
The library serves as a clearinghouse for academic research papers.
Banks rely on a clearinghouse to process interbank payments efficiently.
The new online platform functions as a clearinghouse for freelance job postings.
Public health agencies often act as clearinghouses for disease outbreak data.