JSCC creates an information page for the OTC Derivatives Clearing Service| Japan Securities Clearing Corporation For the purpose of enhancing user convenience, we have created web pages, in both Japanese& English, to provide a single source of information related to our OTC Derivatives Clearing Service.
SPAN Commodity Codes for Dividend Index Futures Contracts| Japan Securities Clearing Corporation In response to the plan to launch Dividend Index Futures contracts in Tokyo Stock Exchange, inc. on July 26, JSCC set the SPAN Commodity Codes for Dividend Index Futures contracts as described in the following PDF file.
While real-time price and trade information of JGSs is available to dealers to a great extent, the information available to investors is very limited at this moment. Only the closing prices are published by the Japan Securities Dealers Association and some individual interdealer brokers.
In addition to efficient, stable and transparent market mechanisms, self-regulation at Japan Exchange Regulation and CCP functions provided by Japan Securities Clearing Corporation also contribute to trust and confidence in its robust and reliable market infrastructure.
Furthermore, acquisition of Japan Securities Clearing Corporation clearing qualifications or(in cases where clearing will not be conducted by such operator) designation of an agency clearing participant with which clearing is entrusted is required when acquiring trading qualifications.
Outline of CDS Margin| Japan Securities Clearing Corporation An amount to cover losses expected to arise as a result of variation of settlement prices until completion of settlement of positions of defaulting participant upon occurrence of default of Clearing Participant to be calculated using settlement prices with respect to positions of each CDS Clearing Participant.
IRS Clearing| Japan Securities Clearing Corporation IRS is one of the derivative transactions traded over-the-counter(OTC Derivative Transaction). Once the trade is done, the obligation to pay coupon shall arise on the part of the interest rate payer and the claim to receive coupon shall arise on the part of the interest rate receiver. e.
Judgment by JSCC pertaining to ad hoc modification of SPAN Parameters(on August 8)| Japan Securities Clearing Corporation The closing values of underlying assets relevant to the Nikkei Stock Average group, the TOPIX group and the Nikkei 225 VI Futures group today exceeded the base values of Price Scan Range. JSCC will recalculate SPAN parameters for each group and will determine whether ad hoc modification of SPAN Parameters is necessary or not.
Judgment by JSCC pertaining to ad hoc modification of SPAN Parameters(on October 17)| Japan Securities Clearing Corporation Today's settlement price of Nikkei 225 Dividend Index Futures exceeded the base values of Price Scan Range. JSCC will recalculate SPAN parameters for the Nikkei 225 Dividend Index group, TOPIX Dividend Index group and TOPIX Core30 Dividend Index group will determine whether ad hoc modification of SPAN Parameters is necessary or not.
Those events highlighted the importance of reducing the time-lag between trading and settlement and led market participants to establish a working group under the Japan Securities Dealers Association in order to identify and examine the issues related to a shorter settlement cycle for JGB transactions. Based on the study by the working group, the JGB market moved to the shorter settlement cycle, from T+3 to T+2, in April 2012.
City-Yuwa Partners has expertise in financial transactions and in dispute resolution procedures including litigation(civil and penal actions), arbitration and financial ADR(including the previous mediation process of the Japanese Bankers Association and the Japan Securities Dealers Association), and its experienced lawyers provide quality services in these practice areas, including representation of clients in litigation, arbitration, financial ADR and other procedures.
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