The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

JSCC and Tokyo Financial Exchange Plan Introduction of IRS and CDS CCP

The Japan Securities Clearing Corporation (JSCC) and the Tokyo Financial Exchange (TFX) have confirmed that they are both planning to introduce clearing for credit derivatives this year, in the form of interest rate swaps (IRSs) and credit default swaps (CDSs). Both parties have been planning the move for around six months and are currently in discussions with other institutions and vendors concerning infrastructure and fees.

JSCC, which is majority owned by the Tokyo Stock Exchange, and TFX, which is member owned, are seeking to introduce clearing for these instruments in order to bring down settlement risk in the domestic derivatives market. The move is therefore similar to that of their US and European counterparts in the clearing central counterparty (CCP) race. It would also add another CCP contender to the global picture, which may not go down well in some corners of the market.

Currently, many Japanese institutions use LCH.Clearnet’s CCP to clear their IRSs and both JSCC and TFX have taken this into account and are already in talks with the London-based firm about establishing clearing links.

Related content

WEBINAR

Upcoming Webinar: The UK’s New Prudential Regime for Investment Firms – Time to Prepare!

Date: 23 March 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes With the implementation of the new Investment Firms Prudential Regime (IFPR), the FCA is aiming to streamline and simplify the prudential requirements for solo-regulated investment firms in the UK. Under the new regime, all MiFID authorized, Collective Portfolio Management Investment...

BLOG

DMS US Virtual Goes Live with a Practitioner Innovation Keynote and Real-Time Q&As

A-Team Group’s Data Management Summit USA Virtual kicked off today with a hugely insightful live practitioner innovation keynote followed by two live, and lively, Q&A sessions packed with audience questions and answered by the day’s expert keynote and panel speakers. Andrew Delaney, president and chief content officer at A-Team, hosted today’s live sessions of the...

EVENT

RegTech Summit Virtual

The RegTech Summit Virtual is a global online event that will be held in June 2021 with an exceptional guest speaker line up of RegTech practitioners, regulators, start-ups and solution providers to collaborate and discuss innovative and effective approaches for building a better regulatory environment.

GUIDE

Regulatory Data Handbook 2020/2021 – Eighth Edition

This eighth edition of A-Team Group’s Regulatory Data Handbook is a ‘must-have’ for capital markets participants during this period of unprecedented change. Available free of charge, it profiles every regulation that impacts capital markets data management practices giving you: A detailed overview of each regulation with key dates, data and data management implications, links to...