The clearinghouse (settlement room) of every stock exchange plays a crucial role in ensuring the financial performance of the exchange. Given the importance of the attractions of the stock market for investors, the clearinghouse serves as a reliable guarantee for both parties involved in a transaction (buyer and seller) to ensure the healthy execution of trades on the stock exchange. The significance of the intermediary role played by the clearing institution is to reduce the risks faced by the transacting parties, which in turn leads to increased stock liquidity and faster transaction processing. The aim of this research is to investigate the impact of the clearinghouse on counterparty risk, stock liquidity, and trading activity in the Tehran Stock Exchange. This research is applied in terms of purpose and descriptive in terms of data collection methodology. The statistical population of this study consists of companies listed on the Tehran Stock Exchange. In this research, using simple random sampling, 186 companies and managers were selected from among 360 companies as the sample. The measurement tools used in this research include the clearinghouse questionnaire and the financial statements of the companies. Due to the lack of prior history, the validity of the questionnaire was confirmed through expert opinions and its reliability was assessed, with results indicating the reliability of the questionnaire. Structural equation modeling and the LISREL software were used to test the hypotheses in this study. The findings indicate that the clearinghouse has a significant impact on counterparty risk, stock liquidity, and trading activity in the Tehran Stock Exchange.