Japan Securities Clearing Corporation /jscc/en/ In January, 2003, Japan Securities Clearing Corporation (JSCC) was the first clearing organization licensed in Japan to conduct the CCP clearing under the Securities and Exchange Law (now called Financial Instrument Obligation Assumption Service based on the Financial Instruments and Exchange Law) and started Clearing cash transactions on Japanese Stock Exchanges. The commencement of JSCC’s Clearing Business combined the clearing of cash transactions, which used to be handled by each exchange, and dramatically improved the safety and efficiency of the clearing and settlement processes. Fri, 04 Jul 2025 07:03:25 +0000 en-US hourly 1 Launch of Regulatory Reporting Leveraging DRR & CDM /jscc/en/information/press_releases/20250702.html Wed, 02 Jul 2025 06:30:00 +0000 /jscc/en/information/press_releases/20250702.html

As announced in the press release dated January 15, 2025, titled "Global Standardization of Regulatory Reporting Leveraging DRR & CDM," JSCC has been exploring a framework for regulatory reporting leveraging DRR and CDM as part of adapting to a new global standardized framework. We are pleased to announce that we commenced parallel production operations as planned on June 27, 2025.

"We are honored to be the first clearing organization globally and the first financial institution in Japan to announce the implementation of DRR and CDM in a production environment. We extend our respect and gratitude to all parties involved, including ISDA and FINOS, who supported this achievement," said Konuma Yasuyuki, President and CEO of JSCC.

"The ISDA DRR establishes a best practice for derivatives trade reporting in multiple jurisdictions. Using the CDM, a golden source interpretation of each ruleset is transformed into free, machine-executable code, enabling institutions to implement the requirements cost-effectively, consistently and accurately. JSCC’s implementation is a big step towards automated reporting in Japan," said Scott O’Malia, CEO of ISDA.

Looking ahead, JSCC will conduct comparative analysis with the current system using live data and continue to leverage the potential of DRR and CDM through medium- to long-term pilot projects and other initiatives.

Reference

  • DRR (Digital Regulatory Reporting): A solution that brings greater consistency and automation to regulatory reporting of derivatives trades, developed by the International Swaps and Derivatives Association (ISDA), a global association for the derivatives industry.
  • CDM (Common Domain Model): A framework managed by the Fintech Open Source Foundation (FINOS), an organization promoting open source in financial services, that standardizes data and processes across the entire transaction lifecycle and enhances interoperability.

Link

【Contact】
Japan Securities Clearing Corporation
Strategic Planning for Clearing IT Innovation
TEL:+81-3-3665-1234 (Main reception)

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Conclusion of IRS Clearing Brokerage Agreement /jscc/en/information/news/20250701_1.html Tue, 01 Jul 2025 00:00:00 +0000 /jscc/en/information/news/20250701_1.html

JSCC hereby notifies you of the receipt of the notification from a Clearing Participant acting as Clearing Broker to the effect that it concluded an IRS Clearing Brokerage Agreement with the following Clearing Customer (Non-affiliate of its Clearing Participant).

- SCHONFELD IR MASTER FUND PTE. LTD.

For any enquiries, please contact us:
Risk Monitoring Division, Risk Management Department
Japan Securities Clearing Corporation
Tel: +81-50-3361-1789

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Judgement regarding Ad Hoc Modification of AS-VaR Parameters - Update of AS-VaR Parameters (June 25, 2025 - June 27, 2025) /jscc/en/information/news/20250624-02.html Tue, 24 Jun 2025 09:00:00 +0000 /jscc/en/information/news/20250624-02.html

 As a result of the judgment pertaining to ad hoc modification of AS-VaR Parameters, because recalculated AS-VaR Parameter values of the Crude Oil Group exceeds the threshold for ad hoc modification, JSCC sets new AS-VaR Parameters effective for June 25, 2025 - June 27, 2025 as below (Getting AS-VaR Parameter File).


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【On June 24】Judgment by JSCC pertaining to ad hoc modification of AS-VaR Parameters (the Crude Oil Group) /jscc/en/information/news/20250624-01.html Tue, 24 Jun 2025 07:30:00 +0000 /jscc/en/information/news/20250624-01.html

Today's settlement price for the Leading Contract Month of the Crude Oil Group from the previous day exceeded 90% of the base value of Price Fluctuation Risk. JSCC will recalculate AS-VaR parameters for this Group, GASOLINE Group and KEROSENE Group and will determine whether ad hoc modification of AS-VaR Parameters is necessary or not.
We will announce by 6:00 p.m. the results of the judgment and modified AS-VaR parameters (if any).

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Clearing Fund Sponsored Scheme for OTC JGB Clearing /jscc/en/information/news/20250623_2JGB.html Mon, 23 Jun 2025 00:00:00 +0000 /jscc/en/information/news/20250623_2JGB.html

The Clearing Fund Sponsored Scheme launched for JGB OTC Transaction Clearing Business on June 23, 2025.
This is to announce that we have published a site related to Clearing Fund Sponsored Scheme.

Clearing Fund Sponsored Scheme for OTC JGB Clearing
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Addition of New JGB OTC Transaction Clearing Participant (Citibank, N.A.) /jscc/en/information/news/20250616_2.html Mon, 16 Jun 2025 00:00:00 +0000 /jscc/en/information/news/20250616_2.html

JSCC granted the JGB OTC Transaction Clearing Qualification to Citibank, N.A. on June 16th, 2025.

JGB OTC Transaction Clearing Service provides clearing service for Buying/Selling and Repo Transactions (Gensaki Transactions and Cash-secured Bond Lending Transactions), for which cleared value per day is approximately 250 trillion yen (average of 2024). We continue to strive to provide stable service operations and smooth and safe clearing settlement by expanding use of clearing.

Japanese Government Bonds List of Clearing Participants
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Conducted the Compression of CDS Transactions /jscc/en/information/news/20250616_1.html Mon, 21 Oct 2024 03:00:00 +0000 /jscc/en/information/news/20250616_1.html

Japan Securities Clearing Corporation announced today that it had completed the Compression cycle for all of the cleared CDS Transactions.

Please refer to Statistics* for the results of Compression.
*Data and Information > Statistics > Credit default Swap > Statistics for Credit Default Swap(Monthly)

JSCC will continue to strive for safe and efficient operation of Clearing Business, including continuous implementation of Compressions, to contribute to an improvement of convenience of market participants.

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Conclusion of IRS Clearing Brokerage Agreement /jscc/en/information/news/20250609_1.html Mon, 09 Jun 2025 00:00:00 +0000 /jscc/en/information/news/20250609_1.html

JSCC hereby notifies you of the receipt of the notification from a Clearing Participant acting as Clearing Broker to the effect that it concluded an IRS Clearing Brokerage Agreement with the following Clearing Customer (Non-affiliate of its Clearing Participant).

- The Master Trust Bank of Japan, Ltd. (Fund No. 400147)

For any enquiries, please contact us:
Risk Monitoring Division, Risk Management Department
Japan Securities Clearing Corporation
Tel: +81-50-3361-1789

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JSCC Completes Compression Cycle for Cleared Interest Rate Swaps /jscc/en/information/news/20250606_irs_comp_e.html Fri, 06 Jun 2025 07:01:08 +0000 /jscc/en/information/news/20250606_irs_comp_e.html

Japan Securities Clearing Corporation announced today that it had completed the compression cycle for cleared yen-denominated interest rate swaps (using TriOptima's triReduce service).

In today's cycle, 65,520 cleared swaps (50,124 full-size terminations and 15,396 partial terminations) with JPY 536.3 trillion in notional amount were terminated.
Note: Terminations of Euroyen TIBOR-OIS basis swaps generated due to technical reason (i.e., to retain Euroyen TIBOR Fixing results fixed on and before December 30, 2024) at one-time conversion of Euroyen TIBOR referencing trades to OIS trades are excluded from the above values.

While continuing to provide the bulk compression service, JSCC will strive to ensure safe and efficient operations of our clearing services and enhance the accessibility of our services for market participants.

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Conclusion of IRS Clearing Brokerage Agreement /jscc/en/information/news/20250526_1.html Mon, 26 May 2025 00:00:00 +0000 /jscc/en/information/news/20250526_1.html

JSCC hereby notifies you of the receipt of the notification from a Clearing Participant acting as Clearing Broker to the effect that it concluded an IRS Clearing Brokerage Agreement with the following Clearing Customer (Non-affiliate of its Clearing Participant).

・The Master Trust Bank of Japan, Ltd. (Fund No. 400025502)
・The Master Trust Bank of Japan, Ltd. (Fund No. 400025548)

For any enquiries, please contact us:
Risk Monitoring Division, Risk Management Department
Japan Securities Clearing Corporation
Tel: +81-50-3361-1789

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