This page outlines the clearing fees for CDS transactions managed by Japan Securities Clearing Corporation. Index CDS transactions incur 800 yen per 100 million yen of notional principal (700 yen for designated clearing participants), while single-name CDS transactions cost 4,800 yen (4,200 yen for designated participants). Monthly fee caps are set at 40 million yen with a 1 million yen minimum. Additional fees apply for compression, position transfers, and credit event settlements. Collateral fees cover management costs for Japanese government bonds, U.S. Treasury securities, and trust deposits, charged monthly. Full details are specified in the regulations.
