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i am not english native speaker, i am italian.

I couldn't find a definition online.


What does "the market face" mean in this passage?

A very significant role of the clearing house is managing the risk created by the transactions on the exchange. From setting the criteria for membership of the clearing house to establishing default rules, using margin systems and requiring daily settlement of resulting obligations of all members, the clearing house controls the risk that the exchange, the members and the users of the market face.

  • Consider that face is a verb here. Now consider a sentence such as: "These are the risks that you and I face." Can you understand that sentence? Do you understand that the market face is not a noun phrase? – P. E. Dant Jun 18 '17 at 2:51
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    @P.E.Dant It sounds like you've got an answer, not a comment. – Ben Kovitz Jun 18 '17 at 4:12
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    Please don't closevote this question. This kind of thing can be very hard for non-native speakers to figure out, even with the aid of a dictionary. If your native language doesn't use attributive nouns, or uses them very differently than English, trying to figure them out in English can be very confusing. And then you hit a passage like this, where "the market face" doesn't have an attributive noun even though it looks like one! – Ben Kovitz Jun 18 '17 at 4:20
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In that sentence, face is a verb. Its subject is "the exchange, the members and the users of the market." Its object is risk, from earlier in the sentence.

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In your example

the users of the market face

face has the meaning "exposed to", as in "

come face to face

the clearing house controls the risk that the users of the market are exposed to

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    "Exposed to" is a great way to explain the meaning of "face" in this context. However, I don't think it has the same meaning as "come face-to-face". – Ben Kovitz Jun 18 '17 at 14:55

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