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Public Comments

Public Comments

The following is a list of current and closed solicitations of public comments. Please refer to the bottom of this page for guidelines on submitting comments.

Outlines related to Addition of Eligible Collaterals in IRS Clearing Service

Subject Public Comment Period
Outlines related to Addition of Eligible Collaterals in IRS Clearing Service 2023/12/14-2024/1/13

Outlines concerning Addition of Management Methods of Clearing Deposit in the Form of JPY Cash in OTC Derivatives Clearing Service

Subject Public Comment Period
Outlines concerning Addition of Management Methods of Clearing Deposit in the Form of JPY Cash in OTC Derivatives Clearing Service 2023/12/14-2024/1/13

Outlines Related to Expansion of Cross Margining Covered Trades and Others in IRS Clearing Service

Subject Public Comment Period
Outlines Related to Expansion of Cross Margining Covered Trades and Others in IRS Clearing Service 2023/11/2-2023/12/2

Outlines related to Revision of Trade Reporting Fee in IRS and CDS Clearing Service

Subject Public Comment Period
Outlines related to Revision of Trade Reporting Fee in IRS and CDS Clearing Service 2023/9/27-2023/10/27

Partial Revision of Clearing Fund Calculation Method in Listed Commodity Derivatives Clearing Service

Subject Public Comment Period
Partial Revision of Clearing Fund Calculation Method in Listed Commodity Derivatives Clearing Service 2023/8/8-2023/8/22

Outlines related to Revision of Clearing Broker Take-up Process in IRS Clearing Service

Subject Public Comment Period
Outlines related to Revision of Clearing Broker Take-up Process in IRS Clearing Service 2023/6/15-2023/6/29

Business Outlines Related to Partial Revision of Clearing Framework associated with Trading Hours Revisions at Tokyo Stock Exchange, etc.

Subject Public Comment Period
Business Outlines Related to Partial Revision of Clearing Framework associated with Trading Hours Revisions at Tokyo Stock Exchange, etc. 2023/5/11-2023/6/10

Business Outlines related to Dojima Precious Metal Futures Clearing Qualification

Subject Public Comment Period
Business Outlines related to Dojima Precious Metal Futures Clearing Qualification 2022/10/25-2022/11/25

Business Outlines Related to Introduction of New Margin Calculation Method (VaR Method) for Futures/Options Contracts

Subject Public Comment Period
Business Outlines Related to Introduction of New Margin Calculation Method (VaR Method) for Futures/Options Contracts 2022/6/20-2022/7/20
Comments to Public Consultation on the "Business Outlines Related to Introduction of New Margin Calculation Method (VaR Method) for Futures/Options Contracts" 2022/6/20-2022/7/20

Business Outlines Related to JGB Futures Pair off Netting Framework

Subject Public Comment Period
Business Outlines Related to JGB Futures Pair off Netting Framework 2021/11/26- 2021/12/10

Partial Amendment to Business Rules and Other Rules for IRS Clearing Business in association with Measures to Deal with Permanent Discontinuation of LIBOR Publication

Subject
Partial Amendment to Business Rules and Other Rules for IRS Clearing Business in association with Measures to Deal with Permanent Discontinuation of LIBOR Publication

Outlines concerning Handling of Conversion of LIBOR Referencing Swaps to OIS etc.

Subject Public Comment Period
Outlines concerning Handling of Conversion of LIBOR Referencing Swaps to OIS etc. 2021/9/7-
2021/9/21

Outlines related to Risk Management Framework associated with Introduction of Derivatives Holiday Trading

Subject Public Comment Period
Outlines related to Risk Management Framework associated with Introduction of Derivatives Holiday Trading 2021/6/15-2021/7/15
◆ (Reference) Public Comments (Osaka Exchange and Tokyo Commodity Exchange)

Rule changes concerning Framework Revisions for Facilitation of Customer Trades in IRS Clearing Service

Subject
Rule changes concerning Framework Revisions for Facilitation of Customer Trades in IRS Clearing Service

Outlines related to Introduction of Customer Buffer Framework etc. in Interest Rate Swap Clearing Service

Subject Public Comment Period
Outlines related to Introduction of Customer Buffer Framework etc. in Interest Rate Swap Clearing Service 2020/10/26-
2020/11/25

Outlines concerning Petroleum Futures Clearing Qualification

Subject Public Comment Period
Outlines concerning Petroleum Futures Clearing Qualification 2020/9/29-2020/10/29
◆ (Reference) Public Comments (Osaka Exchange)

Rule changes concerning Suspension of Clearing of Foreign Currency Denominated IRS

Subject
Rule changes concerning Suspension of Clearing of Foreign Currency Denominated IRS

Outlines concerning Commodity Market Clearing Service in association with Integration with Japan Commodity Clearing House Co., Ltd.

Subject Public Comment Period
Outlines concerning Commodity Market Clearing Service in association with Integration with Japan Commodity Clearing House Co., Ltd. 2020/1/30-2020/2/29
Comments to Public Consultation on Outlines related to Listed Derivatives Clearing Service 2020/1/30-2020/2/29

Outlines related to Revision of Emergency Margin Framework for Listed Derivatives Clearing Services

Subject Public Comment Period
Outlines related to Revision of Emergency Margin Framework for Listed Derivatives Clearing Services 2020/1/30-2020/2/29
Comments to Public Consultation on Outlines related to Listed Derivatives Clearing Service 2020/1/30-2020/2/29

Outlines related to Revision of Loss Compensation Framework and Risk Management Framework for Listed Derivatives Clearing Services

Subject Public Comment Period
Outlines related to Revision of Loss Compensation Framework and Risk Management Framework for Listed Derivatives Clearing Services 2020/1/30-2020/2/29
Comments to Public Consultation on Outlines related to Listed Derivatives Clearing Service 2020/1/30-2020/2/29
◆ (Reference) Public Comments (Osaka Exchange)

Outlines concerning Client Clearing Fee Revision in IRS Clearing Business

Subject Public Comment Period
Outlines concerning Client Clearing Fee Revision in IRS Clearing Business 2019/10/28-2019/11/27

Outlines concerning Commodity Market Clearing Service in association with Integration with Japan Commodity Clearing House Co., Ltd.

Subject Public Comment Period
Outlines concerning Commodity Market Clearing Service in association with Integration with Japan Commodity Clearing House Co., Ltd. 2019/7/30-2019/8/29
◆ (Reference) Public Comments (Osaka Exchange)

Clearing Framework Concerning Creation/Redemption of ETF

Subject Public Comment Period
Clearing Framework Concerning Creation/Redemption of ETF 2019/4/24-2019/5/24

Outlines concerning Revision of Handling of Customer Profit upon Clearing Broker Default, etc. in Interest Rate Swap Clearing Business

Subject Public Comment Period
Outlines concerning Revision of Handling of Customer Profit upon Clearing Broker Default, etc. in Interest Rate Swap Clearing Business 2019/4/24-2019/5/15

Partial Revision of Calculation Method of Initial Margin and Clearing Fund and Other Measures in JGB OTC Transaction Clearing Business

Subject Public Comment Period
Partial Revision of Calculation Method of Initial Margin and Clearing Fund and Other Measures in JGB OTC Transaction Clearing Business 2019/3/4-2019/3/15

Outlines concerning Addition of Custody Method of Clearing Deposit in the Form of Cash in OTC Derivatives Clearing Business

Subject Public Comment Period
Outlines concerning Addition of Custody Method of Clearing Deposit in the Form of Cash in OTC Derivatives Clearing Business 2018/12/19-2019/1/18

Partial Revision of Clearing Fund and Margin Requirement Calculation Method for Futures and Option Contracts

Subject Public Comment Period
Partial Revision of Clearing Fund and Margin Requirement Calculation Method for Futures and Option Contracts 2018/12/05-2018/12/18

Outlines concerning Establishment of Initial Margin Increase Framework according to Creditworthiness in Cash Products Clearing Service

Subject Public Comment Period
Outlines concerning Establishment of Initial Margin Increase Framework according to Creditworthiness in Cash Products Clearing Service 2018/12/05-2018/12/18

Outlines concerning Enhancement of Customer Convenience etc. in Interest Rate Swap Clearing Business

Subject Public Comment Period
Outlines concerning Enhancement of Customer Convenience etc. in Interest Rate Swap Clearing Business 2018/10/25-2018/11/08

Outlines related to Compression Service Improvement etc in IRS Clearing Business

Subject Public Comment Period
Outlines related to Compression Service Improvement etc in IRS Clearing Business 2018/05/23-2018/06/05

Outlines concerning Transfer of Open Interests in IRS Clearing Business

Subject Public Comment Period
Outlines concerning Transfer of Open Interests in IRS Clearing Business 2018/03/12-2018/03/25

The revision of the Parental Guarantee system for JGB OTC Transaction Clearing Business

Subject Public Comment Period
The revision of the Parental Guarantee system for JGB OTC Transaction Clearing Business 2018/02/19-2018/03/20

Outline of Revision associated with Shortening of Stock Settlement Cycle (toward T+2)

Subject Public Comment Period
Outline of Revision associated with Shortening of Stock Settlement Cycle (toward T+2) 2017/09/28-2017/10/28

Outlines Regarding Reinforcement of Risk Management Framework related Default Management in Securities and Similar Contracts Clearing Business

Subject Public Comment Period
Outlines Regarding Reinforcement of Risk Management Framework
related Default Management in Securities and Similar Contracts Clearing Business
2017/09/28-2017/10/28

Outlines concerning JGB OTC Transactions Clearing Business associated with Shortening of JGB Settlement Cycle and to Cover Inflation-Indexed JGB

Subject Public Comment Period
Outlines concerning JGB OTC Transactions Clearing Business
associated with Shortening of JGB Settlement Cycle
and to Cover Inflation-Indexed JGB
2017/6/21-2017/7/21
Outlines concerning JGB OTC Transactions Clearing Business
associated with Shortening of JGB Settlement Cycle
and to Cover Inflation-Indexed JGB (Amended on January 29, 2018)

Outlines concerning Revision of Clearing Services for Listed Derivatives, etc.

Subject Public Comment Period
Outlines concerning Revision of Clearing Services for Listed Derivatives, etc. 2017/3/31-2017/4/30
◆ (Reference) Public Comments (Osaka Exchange)

Outlines concerning Introduction of Variation-Margining-as-Settlement

Subject Public Comment Period
Outlines concerning Introduction of Variation-Margining-as-Settlement 2016/10/27-2016/11/10

Addition of New Fee Schedule for Client Clearing

Subject Public Comment Period
Addition of New Fee Schedule for Client Clearing 2016/10/27-2016/11/10

Outlines concerning Expansion of Cross Margining Coverage and other Items

Subject Public Comment Period
Outlines concerning Expansion of Cross Margining Coverage and other Items 2016/9/29-2016/10/29

Partial Revision of Margin Calculation Method for Listed Derivatives

Subject Public Comment Period
Partial Revision of Margin Calculation Method for Listed Derivatives 2016/3/24-2016/4/23

Outline related to Functional Enhancement of Compression Schemes, etc.

Subject Public Comment Period
Outline related to Functional Enhancement of Compression Schemes, etc. 2016/1/7-2016/2/6

Outlines of Compression Scheme Revision for CDS Transactions

Subject Public Comment Period
Outlines of Compression Scheme Revision for CDS Transactions 2016/1/7-2016/1/21

Outlines of OTC JGB Clearing Business to Cover Inflation-Indexed Japanese Government Bonds

Subject Public Comment Period
Outlines of OTC JGB Clearing Business to Cover Inflation-Indexed
Japanese Government Bonds
2015/11/25-2015/12/25

Outlines of Japanese Government Bond OTC Transactions Clearing Business associated with Shortening of Japanese Government Bonds Settlement Cycle

Subject Public Comment Period
Outlines of Japanese Government Bond OTC Transactions Clearing
Business associated with Shortening of Japanese Government Bonds
Settlement Cycle
2015/5/27-2015/6/9

Revision of Clearing Fund Structure for Cash Equities, etc.

Subject Public Comment Period
Revision of Clearing Fund Structure for Cash Equities, etc. 2015/4/30-2015/5/30

Outline of Scheme for Introducing Compression per Trade

Subject Public Comment Period
Outline of Scheme for Introducing Compression per Trade 2015/4/7-2015/5/7

Outline of Compression for Credit Default Swaps

Subject Public Comment Period
Outline of Compression for Credit Default Swaps 2015/4/7-2015/4/20

Outline with Regard to Clearing of Foreign Currency-Denominated Interest Rate Swaps

Subject Public Comment Period
Outline with Regard to Clearing of Foreign Currency-Denominated
Interest Rate Swaps
2015/2/10-2015/3/12
Outline related to Introduction of Cross Margining 2015/2/10-2015/3/12
Outlines of Diversification and Enhancement of Stress Scenarios
for Calculation of Clearing Fund in IRS Transactions
2015/2/10-2015/3/12

System Revision associated with Revision of Settlement by Physical Delivery and Payment Scheme and Shortening of Period from Last Trading Day to Day of Settlement by Physical Delivery and Payment

Subject Public Comment Period
System Revision associated with Revision of Settlement by Physical
Delivery and Payment Scheme and Shortening of Period from Last
Trading Day to Day of Settlement by Physical Delivery and Payment
2014/11/26-2014/12/26

Outlines of Subsequent Collateral Allocation Repos Clearing

Subject Public Comment Period
Outlines of Subsequent Collateral Allocation Repos Clearing 2014/11/26-2014/12/26
*Revised Edition is
published on May 27,
2015.

Outline of Structure relating to Single Name CDS Clearing

Subject Public Comment Period
Outline of Structure relating to Single Name CDS Clearing 2014/10/22-2014/11/4

Outline of Structure Relating to Clearing of OIS and Expansion of TIBOR Tenors

Subject Public Comment Period
Outline of Structure Relating to Clearing of OIS and Expansion of TIBOR Tenors 2014/9/10-2014/10/9

Revision of Treatment of DVP Settlement Price and Market Value of Securities in lieu of Cash related to Stocks to which Tick Size less than Whole Yen Amount Applies

Subject Public Comment Period
Revision of Treatment of DVP Settlement Price and Market Value of
Securities in lieu of Cash related to Stocks to which Tick Size less
than Whole Yen Amount Applies
2014/6/25-2014/7/24

Rule Revision in relation to the Consolidation of Clearing System Functions

Subject Public Comment Period
Rule Revision in relation to the Consolidation of Clearing System Functions 2014/6/25-2014/7/24

Revision of Liquid Fund Acquiring Method in JGB OTC Transaction Clearing Business

Subject Public Comment Period
Revision of Liquid Fund Acquiring Method in JGB OTC Transaction Clearing Business 2014/4/30-2014/5/13

Revision of Risk Management System in JGB OTC Transaction Clearing Business

Subject Public Comment Period
Revision of Risk Management System in JGB OTC Transaction Clearing Business 2014/3/20-2014/4/19

Partial Amendment to Business Rules and other Rules in association with Revision of Deposit Insurance Act

Subject Public Comment Period
Partial Amendment to Business Rules and other Rules in association
with Revision of Deposit Insurance Act
2014/2/26-2014/3/5

Revisions associated with Phased Optimization of Tick Size in Auction Trading of Cash Equities at Tokyo Stock Exchange, Inc.

Subject Public Comment Period
Revisions associated with Phased Optimization of Tick Size in Auction
Trading of Cash Equities at Tokyo Stock Exchange, Inc.
2013/9/26-2013/10/25

Outline of JGB OTC Transactions Clearing Business associated with Merger with Japan Government Bond Clearing Corporation

Subject Public Comment Period
Outline of JGB OTC Transactions Clearing Business associated with Merger
with Japan Government Bond Clearing Corporation
2013/8/1-2013/8/15

Outline concerning Introduction, etc. of Client Clearing

Subject Public Comment Period
Outline concerning Introduction, etc. of Client Clearing 2013/7/1-2013/7/31

Structure Revisions associated with Integration of Derivatives Market

Subject Public Comment Period
Structure Revisions associated with Integration of Derivatives Market 2013/6/26-2013/7/25

Developing Rules and Regulations in connection with Integration of Clearing Organizations with Osaka Securities Exchange Co., Ltd.

Subject Public Comment Period
Developing Rules and Regulations in connection with Integration of
Clearing Organizations with Osaka Securities Exchange Co., Ltd.
2013/1/31-2013/3/1

Partial Amendment of IRS Clearing System in conjunction with Addition of TIBOR Swap to Transactions Eligible for Clearing

Subject Public Comment Period
Partial Amendment of IRS Clearing System in conjunction with Addition
of TIBOR Swap to Transactions Eligible for Clearing
2013/1/11-2013/1/25

Partial Amendment of IRS Clearing Structure for DCO Registration

Subject Public Comment Period
Partial Amendment of IRS Clearing Structure for DCO Registration 2012/10/3-2012/10/17

Review on the Loss Compensation Framework, etc. Pertaining to CDS Clearing

Subject Public Comment Period
Review on the Loss Compensation Framework, etc. Pertaining to CDS Clearing 2012/6/11-2012/6/25

Outline of Interest Rate Swaps Clearing

Subject Public Comment Period
Outline of Interest Rate Swaps Clearing 2012/3/1-2012/3/31

Outline of Credit Default Swaps Clearing (Revised Edition)

Subject Public Comment Period
Outline of Credit Default Swaps Clearing (Revised Edition) 2011/4/7-2011/4/20

Revision, etc. of Matters to be Reported by Clearing Participants in association with Partial Amendment of “Financial Instruments and Exchange Act”

Subject Public Comment Period
Revision, etc. of Matters to be Reported by Clearing Participants in
association with Partial Amendment of “Financial Instruments and Exchange Act”
2011/2/23-2011/3/11

Comment Submission Guidelines

1. Comment Submission Instructions

For items that are open for comment, please submit your comment in one of the following ways:

(1) By postal mail
Please send to the following address (Must arrive no later than the comment closing date):
Japan Securities Clearing Corporation, 2-1 Nihombashi Kabuto-cho, Chuo-ku, Tokyo 103-0026, Japan
(2) By e-mail
Please send to the following e-mail address (Please send your e-mail with the subject line "Comments on XXXX"): info@jpx.co.jp
*Please note that comments by phone are not acceptable.

Your comments must include (a) your name, (b) affiliation (name of your company, department, etc.), (c) your address, and (d) your telephone number. JSCC may contact you to confirm the content of your comments.

2. Others

JSCC will use your comments as reference when deciding on measures to be taken. JSCC will also organize the submitted comments as appropriate and publish them on its website, along with its responses. Please note that JSCC will not be able to respond to each opinion individually.

Please be aware that your comments may be made public, except for your name, address, telephone number, and e-mail address. If there is any personal information in your comments that could be used to identify you, the relevant section will not be disclosed.

Personal information, such as names and contact information, will be managed appropriately and used only for the purposes of public comments, such as to contact and confirm any unclear points in the comments. For more information on our privacy policy, please refer to Privacy Policy.