JSCC starts single-name CDS clearing

Japan Securities Clearing Corporation announced today that it had launched single-name credit default swaps clearing on December 15, with the first clearing cycle scheduled for December 18.

JSCC will initially accept the following 12 highly liquid single-name CDS trades that are linked to Japanese corporate reference entities.

We have been offering CDS clearing for Index CDS trades since July 2011. The new service for single-name CDS trades, which have a larger market in Japan, is expected to reduce counterparty risk further for Clearing Participants.

We will seek to enhance and upgrade our CDS clearing functions, for example, by expanding the scope of eligible issues, and provide services more accessible to market participants.

(Eligible issues)
FUJITSU LIMITED
JFE Holdings, Inc.
Kobe Steel, Ltd.
Mitsui Chemicals, Inc.
Mitsui O.S.K. Lines, Ltd.
Nippon Paper Industries Co.,Ltd..
NIPPON STEEL & SUMITOMO METAL CORPORATION
NISSAN MOTOR CO., LTD.
Oji Holdings Corporation
Panasonic Corporation
SONY CORPORATION
TOSHIBA CORPORATION

-Contact-
OTC Derivatives Clearing Service
Japan Securities Clearing Corporation
Tel: 81-3-3665-1405
Email: otc@jscc.co.jp