Nomura to offer catastrophe risk hedging

In its first deal, Nomura arranged an earthquake derivative between East Japan Railway Company and German reinsurance company Munich Re.

The derivative carries a $260 million notional principal and tenure of five years. East Japan Railway Company will pay a yen-denominated premium and will receive a US dollar payment in the event of an earthquake in the southern Kanto region of Japan if the magnitude exceeds a predetermined level.

Munich Re, the recipient of the earthquake risk from East Japan

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 or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

You need to sign in to use this feature. If you don’t have a 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