参加者破綻処理 | 株式会社日本証券クリアリング機構

This page explains the default proceedings for clearing participants handled by Japan Securities Clearing Corporation (JSCC). JSCC manages credit risk of participants and, upon default recognition, halts new trading and processes positions. Listed products are handled through market liquidation or reverse trades, while CDS and interest rate swap trades are processed through auctions involving non-defaulted participants. Customer position and collateral transfers are possible, with losses covered by loss compensation funds. JSCC maintains normal settlement schedules during defaults, utilizing liquidity supply facilities.