JSCC Completes First Compression Cycle for Cleared Interest Rate Swaps

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

Fourteen major Japanese and foreign financial institutions, which are JSCC’s Participants and Customers, eliminated JPY 9.86 Trillion in notional amount, with 2,733 cleared swaps terminated (2,662 full-size terminations and 71 partial terminations) in today’s cycle (which are all on a single-leg basis).

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.