Ontario Securities Commission Granted Interim Exemption from Clearing Agency Recognition

The Ontario Securities Commission issued an interim order exempting JSCC from the requirement to be recognized as a Clearing Agency with respect to JSCC’s interest rate swap clearing service. In addition, the financial regulatory authorities in Ontario and Quebec issued an interim exemptive relief for JSCC with respect to the substituted compliance with the National Instrument setting forth OTC derivatives’ customer clearing and customer protection by JSCC’s compliance with the relevant Japanese regulations.
Through these order and relief, JSCC may provide the interest rate swap clearing service to Ontario corporations and Quebec corporations.
Please refer to the press release linked below for further details.