The Japan Securities Clearing Corporation (JSCC) announces that the monthly clearing volume in the clearing services for interest rate swap transactions (IRS) reached 314 trillion yen in May 2024, setting a record monthly volume for three consecutive months from March 2024.
Since JSCC launched its IRS clearance service in 2012, JSCC has been regularly improving its operations. Recently, the company has been promoting measures for convenience and efficiencies for users, such as enhancing STP (Straight Through Processing) from swap execution to settlement, and such as expanding cross-margins with listed rate products.
With increasing interest rate hedging needs in light of the Bank of Japan’s recent monetary policy changes, through the efficient and reliable clearing service with these improvements, clearing volume has expanded since March this year to reach a monthly record high for three consecutive months.
Yasuyuki Konuma, President & CEO of JSCC, commented:
“We are committed to improving our services competitively while maintaining strong risk management standards acceptable in any relevant jurisdiction. We are glad to see the extension of the clearing service resulting from the improvement. We believe interest rate hedging needs will continue to increase in light of the recent interest rate market for the Japanese Yen. As a major central counterparty to yen derivatives, we will continue to improve the convenience and make JSCC’s clearing services widely available worldwide.”
