Abstract: The present invention relates to an electronic inventory clearing system having particular utility as an airline reservation system. The system includes one or more devices for storing information from which transactions can be generated, at least one transaction forwarding and storage station for requesting a desired transaction and an information processing unit for evaluating requested items with respect to the stored information. The information processing unit is capable of compiling a list of uncompleted transactions and of automatically querying the information storage device(s) for the availability of items to fill each transaction on the list. A process for using the system is also described.