JSCC gets a grip on initial margin

The Japan Securities Clearing Corporation (JSCC) put its troubles calculating clearing member initial margin for interest rate swaps (IRSs) behind it in 2017, reporting zero breaches over the past 12 months.

This is in stark contrast to 2016, during which time the clearing giant reported 19 separate occasions when the margin coverage held against an IRS member account fell below the actual mark-to-market exposure of that account.

JSCC achieved a 100% initial margin coverage ratio across its c

To continue reading...

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 indvidual account here: