| Spanish term or phrase: miembro liquidador vs. miembro compensador | From Spain, a regulator's document covering futures markets. There are plenty of references for both "miembro liquidador" and "miembro compensador" (e.g. IATE), but all those I have been able to find are "clearing member" for each of them! Clearly there must be a difference... what would each one be (different types of clearing member I assume):
"... y el número de participantes es de [X] miembros negociadores, de los cuales [Y] pertenecen a grupos integrados, [Z1] miembros liquidadores y [Z2] miembros compensadores." |
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The translation workplace 
peer agreement (net): +4
