JSCC reinforces default funds

The Japan Securities Clearing Corporation (JSCC) compelled member firms to step up their contributions to its various default funds in the first quarter of the year.

Total required participant contributions across JSCC’s four default funds for derivatives business increased by ¥135.5 billion ($1.2 billion) in the three months to March 31.

Required payments for the index futures and options fund jumped ¥105.1 billion, for the Japan government bond (JGB) futures and options fund ¥22 billion, for

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