Clear Markets North America, Inc. signed an agreement with Japan Securities Clearing Corp. to clear interest rate swaps executed on Clear Markets North America, Inc., a CFTC-registered Swap Execution Facility (SEF). The Agreement will enable Clear Markets North America, Inc. to route eligible transactions to JSCC via a JSCC permitted affirmation service. “This agreement will enable Clear Markets immediately begin offering JSCC-cleared JPY swaps to our SEF clients” said Shawn Dorsch, CEO of Clear Markets SEF.
Clear Markets North America, Inc. is a permanently registered Swap Execution Facility (SEF) with the United States Commodity Exchange Commission.
Japan Securities Clearing Corporation is a central counterparty licensed by the Financial Service Agency of Japan (the FSA) to engage in the “Financial Instruments Debt Assumption Service” set fourth in Article 2(28) of the Financial Instruments and Exchange Act of Japan to provide derivatives clearing services in Japan. JSCC is exempt from registration with the United States Commodity Exchange Commission as a derivatives clearing organization (DCO) within the meaning of the US Commodity Exchange Act, as amended (the CEA) pursuant to the Order of Exemption.