www.jpx.co.jp/jscc/risk/close-out-netting.html
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清算約定等の一括清算 | 株式会社日本証券クリアリング機構
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https://www.jpx.co.jp/jscc/risk/close-out-netting.html
About this page
This page describes the side letter agreement on close-out netting that JSCC (Japan Securities Clearing Corporation) has concluded with clearing participants. It outlines procedures for terminating clearing agreements and consolidating settlement of receivables and payables when JSCC experiences default or insolvency proceedings. JSCC obtains legal opinions (netting opinions) regarding the validity of this agreement and periodically confirms that no significant legal changes have affected its validity.
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