JSCC Completes sixth Compression Cycle for Cleared Interest Rate Swaps

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

This compression has been implemented as the first cycle of Unlinked Compression which was introduced through OTC Clearing System Phase 4.0.

Twelve major Japanese and foreign financial institutions, which are JSCC’s Participants and Customers, eliminated JPY 72.5 Trillion in notional amount, with 13,914 cleared swaps terminated (11,919.5 full-size terminations and 1,994.5 partial terminations) in today’s cycle (which are all on a single-leg basis. Then, there is a fraction in the number of cleared swaps terminated).

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.