Initial margin held by JSCC swelled 65% in Q1

Largest IM call for JGB index futures and options unit was ¥443.9 billion

Aggregate initial margin held across the Japan Securities Clearing Corporation’s six divisions totalled ¥4.79 trillion ($44.6 billion) at end-March, up from ¥2.9 trillion at end-2019. IM held by the clearing services for futures and options linked to Japanese government bond (JGB) and indexes more than doubled over the period, while that for cash securities increased almost sevenfold. 

At the end of the first quarter, IM at the JGB and index futures and options units totalled ¥2.1 trillion, up

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