Tradeweb Announces JSCC Clearing for MTF and SEF Yen Swap Transactions
- Clients can benefit from fully automated workflows on Tradeweb's MTFs and SEFs, achieving straight-through processing improvements.
- Clearing volume of Yen swaps on JSCC reached JPY 1,181 trillion as of August 2023, exceeding the previous record.
- None.
The enhancement follows JSCC’s decision to support MTF and SEF trading, replacing a previously time-consuming and redundant confirmation (or take-up) process between the clearing house and Clearing Brokers subsequent to the execution of their clients’ Yen swap transactions. Instead, clients are now able to benefit from fully automated workflows on Tradeweb’s MTFs and SEFs - from pre-trade credit checks to execution and clearing - and achieve straight-through processing (STP) improvements.
“This is the latest example of Tradeweb and JSCC being responsive to the needs of our clients, both global hedge funds and real-money accounts, around more connectivity, flexibility and choice in Yen swap trading,” said Enrico Bruni, Head of
“We are very pleased to be working together with Tradeweb to address institutional investor demand for fully electronic trading workflows in Yen swaps,” said Yasuyuki Konuma, JSCC President & CEO. “As a primary Central Clearing Counterparty (CCP) for Yen derivatives products, we are always focused on ensuring our services are competitive, and offer global investors convenient and enhanced access to Japanese markets.”
Tradeweb facilitates both direct and indirect connectivity to clearing houses and links to middleware providers globally. JSCC provides clearing services for listed cash and derivatives, over-the-counter (OTC) derivatives and OTC Japanese Government Bond cash and repo transactions for both domestic and foreign financial institutions. The CCP is currently exempted from registration with the Commodity Futures Trading Commission (CFTC) as a Derivatives Clearing Organisation (DCO). Clearing volume of Yen swaps on JSCC reached
“I am confident that JSCC’s support of MTF and SEF trading will help our clients express their views in Japanese interest rate products much more efficiently,” said Taichi Shibuya, Head of
Tradeweb launched derivatives trading in 2005 and has since become a leading marketplace in EUR, GBP and USD interest rates swaps (IRS). More than
*January 2023 to end of August 2023
About Tradeweb Markets
Tradeweb Markets Inc. (Nasdaq: TW) is a leading, global operator of electronic marketplaces for rates, credit, equities and money markets. Founded in 1996, Tradeweb provides access to markets, data and analytics, electronic trading, straight-through-processing and reporting for more than 40 products to clients in the institutional, wholesale and retail markets. Advanced technologies developed by Tradeweb enhance price discovery, order execution and trade workflows while allowing for greater scale and helping to reduce risks in client trading operations. Tradeweb serves approximately 2,500 clients in more than 65 countries. On average, Tradeweb facilitated more than
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Media contacts:
Angeliki Kallipoliti, Tradeweb, +44 7824 327073, Angeliki.Kallipoliti@Tradeweb.com
Eloise Doolan, Tradeweb, +44 7917 266 191, Eloise.Doolan@Tradeweb.com
Investor contacts:
Ashley Serrao, Tradeweb, +1 646 430 6027, Ashley.Serrao@Tradeweb.com
Sameer Murukutla, Tradeweb, +1 646 767 4864, Sameer.Murukutla@Tradeweb.com
Source: Tradeweb Markets Inc.
