Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'cleared trade'?

A. stage in the lifecycle of a trade indicating that the trade, and related instrument(s) has ended (expired)
B. stage in the lifecycle of a trade indicating that the trade has been established and there is an associated open position on the books of the trader as a consequence
C. stage in the lifecycle of a trade indicating that a third-party clearing house, acting as an intermediary, has reconciled the orders involved in the trade
D. stage in the trade lifecycle in which the trade has been terminated early, i.e., prior to maturity

Answer: stage in the lifecycle of a trade indicating that a third-party clearing house, acting as an intermediary, has reconciled the orders involved in the trade