DTCC and Jasdec to handle US stocks on Japanese exchange

The Depository Trust and Clearing Corporation (DTCC) has signed a deal with the Japan Securities Depository Centre (Jasdec) to streamline trading in US securities on Japanese stock exchanges.

Until the end of last month, the Japan Securities Settlement and Custody handled bookkeeping for the 15 US securities listed in Tokyo and Osaka, in a separate process from settlement of trades in Japanese securities.

Now, however, Jasdec will take over foreign securities as well as domestic issues, via a link with DTCC's depository subsidiary. US and Japanese firms will be able to move US securities traded in Japan through the depository to other US or Japanese brokers.

Trades on Japanese exchanges will continue to be settled in Japan. The move will help the exchanges transfer to paperless trading by 2009, Japanese regulators said.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here