Congratulating APAC’s first yen-denominated IRS clearing organisation

We’ve helped JSCC become the first clearing organisation in APAC to clear yen-denominated IRS

We’ve sent our warmest congratulations to our client, the Japan Securities Clearing Corporation (JSCC) who have become the first clearing organisation in the Asia-Pacific region to clear yen-denominated IRS. This follows JSCC’s decision to begin clearing yen-denominated Interest Rate Swaps (IRS) from today, 9 October 2012.

A dedicated Catalyst team has been based at JSCC Tokyo since the beginning of the OTC IRS Clearing project in September 2011 and we have advised them throughout the process, deploying specialists in all aspects of clearing, including risk management, regulation, operations, settlement and technology.

I’m proud that the Catalyst team have helped design and engage with market participants to deliver a solution that strengthens the post-trade infrastructure for the Japanese OTC market.

It is a significant achievement to deliver this service in time to meet regulatory deadlines. This is a major step for JSCC and we are delighted to have been able to support their realisation of a world class clearing service that conforms to global regulatory standards.

We look forward to continuing to assist and support JSCC in the ongoing expansion of the scope of their clearing service and to ensuring that our knowledge and experience continues to transfer into the project, so that these important developments have a strong and sustainable legacy.

Consultancy Catalyst congratulates JSCC APACS first yen dominated irs clearing organisation

Note: This news article was first published by Catalyst prior to the Sionic merger

About the author

I specialise in clearing, risk, derivatives reform and regulation, advising banks, international and regional exchanges and central counterparties how to manage regulatory change.