INTERNATIONAL: Tradeweb Announces JSCC Clearing for MTF and SEF Yen Swap Transactions

Wednesday September 20 2023

On 19^th September 2023, Tradeweb Markets Inc. (Nasdaq: TW) announced that institutional clients executing Japanese Yen swaps on its Multilateral Trading Facilities (MTFs) and Swap Execution Facilities (SEFs) now clear their transactions via the Japan Securities Clearing Corporation (JSCC).

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.

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).

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