JSCC Completes Compression Cycle for Cleared Interest Rate Swaps

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

In today’s cycle, 22,638 cleared swaps (14,461 full-size terminations and 8,177 partial terminations) with JPY 136.2 Trillion in notional amount were terminated.
(*)Values are expressed on a double-leg basis. You can obtain single-leg based value by dividing the above value by 2. Statistical information will continue to be provided on a single-leg basis.

In this cycle, Risk Transformation service provided by TriOptima (under which facilitates the termination of LIBOR trades and creation of replacement OIS trades) was utilized, for the first time. 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.