JSCC presses for US client clearing exemption

Heightened yen rate risk adding urgency to US funds’ calls for swaps clearing access


Japan Securities Clearing Corporation is pushing for a regulatory exemption that would allow the US clients of clearing members to access its yen swaps clearing service.

If the Commodity Futures Trading Commission agrees, US dealers would finally be able to clear yen interest rate swaps at JSCC on behalf of some of the world’s largest asset managers. At present, US regulations bar futures commission merchants (FCMs) from extending clearing services for US customers at what are known as exempt

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