Close-out Netting of Clearing Contracts | Japan Securities Clearing Corporation
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Close-out Netting of Clearing Contracts | Japan Securities Clearing Corporation
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This page describes JSCC's close-out netting procedures for clearing contracts. JSCC enters into "Agreement for Close-out Netting of Clearing Contracts" with clearing participants, establishing procedures to terminate cleared contracts and net rights and obligations when close-out events occur, including default or JSCC bankruptcy filings. JSCC obtains legal opinions on the enforceability of these agreements and periodically confirms that no material legal changes have occurred that could adversely affect enforceability.
