JSCC Completes the Bulk Conversion of IRS Cleared Contracts referencing LIBOR (for swaption exercise) to those referencing TONA (OIS)

Japan Securities Clearing Corporation today completed the Bulk Conversion of IRS Cleared Contracts referencing LIBOR(*) to those referencing TONA (OIS), following the previous bulk conversion on December 6, 2021.
(*) IRS Cleared Contracts referencing LIBOR coming into existence as a result of swaption exercise

With the completion of this conversion, JSCC has completed the planned response for Benchmark Reform (Permanent Cessation of LIBOR).

JSCC will continue its effort to ensure safe and efficient operations and enhance its clearing services for market participants.