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Japan : The JSCC members terminated 72.5 trillion notional in the first unlinked JSCC compression cycle for Japanese Yen (JPY) interest rate swaps.

TriOptima announces that JSCC members terminated 72.5 trillion in the first unlinked compression cycle for JPY interest rate swaps (IRS) in JSCC.This is an increase of 44.4% over the notional terminated in Septembers compression cycle. Since January 2015, triReduce compression cycles have reduced JSCC IRS notional outstanding by 316.5 trillion.

As we anticipated, the unlinking of trades in JSCC resulted in an increase in notional terminated.The unlinking also resulted in the greatest number of trades terminated since we started, said Takehiro Hosomura, Director of OTC Derivatives Clearing Service at JSCC. Unlinking combined with the growing participation of our clearinghouse members will continue to generate further increases as reflected in this years results.

We continue to work with JSCC and with all participants to facilitate compression in the clearinghouse, said Yutaka Imanishi.The JSCC members are eager to continue compression, increasing both the number of cycle participants and the number of trades submitted.

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Publication:Mena Report
Date:Dec 9, 2015
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