JSCC to be first Asian CCP to clear single-name CDSs

Takeshi Hirano, JSCC

Japan Securities Clearing Corporation (JSCC) plans to start clearing single-name credit default swaps (CDSs) on Japanese names as early as May following demand from member banks keen to avoid the extra cost of transacting the business when margin rules for uncleared swaps kick in during 2015.

JSCC has already been clearing index CDSs since 2011 and will become the first clearing house in Asia to offer single-name CDS clearing. For market participants in Japan, the imminent introduction of new ma

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