Competition for Japanese CCP clients intensifies

The fight is on as SwapClear faces off to local CCPs over Japanese financial institutions


LCH.Clearnet's interest rate swaps clearing division, SwapClear, is pushing hard to secure Japanese banks as full members ahead of any possible co-operation with Japan's two prospective central counterparty (CCP) clearings.

The two local CCP initiatives are led by the Tokyo Stock Exchange (TSE) with its 86.3%-owned clearing arm, Japan Securities Clearing Corp (JSCC), and the Tokyo Futures Exchange (TFX). Both CCPs plan to go live next year, and have stated in reports released in the second

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