Type of site. Axios (stylized as AXIOS) is an American news and information website founded in 2016 by Politico co-founder Jim VandeHei, Politico's former Chief White House correspondent Mike Allen, and former Politico Chief Revenue Officer Roy Schwartz. The site's name, based on the Greek word for worthy, officially launched in 2017.
What is a 'Clearing House'. A clearing house is an intermediary between buyers and sellers of financial instruments. Further, it is an agency or separate corporation of a futures exchange responsible for settling trading accounts, clearing trades, collecting and maintaining margin monies, regulating delivery, and reporting trading data.
Check clearing is a daily process in banking and the economy. In order for consumers to do business, banks need to send checks to a clearing house, which verifies that funds are available in the account that the check is drawn on. A check that is drawn on another bank and is presented to a clearing house is called a transit check or a not-on-us check.