JSCC default funds shrink $1.7 billion in Q1

Aggregate mandatory contributions by members of the Japan Securities Clearing Corporation’s default funds shrunk 18% to ¥835 billion ($7.7 billion) in the first quarter of 2019, the lowest level since the end of 2017.

Total pre-funded required participant contributions to the over-the-counter Japanese government bond fund fell 20% to ¥351 billion, to the JGB futures and options 37% to ¥73 billion, and to the index futures and options fund 26% to ¥189 billion.

In contrast, contributions to the

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