Mr. Takeshi Hirano, Director, Strategic Planning,
Director, OTC Derivatives Clearing Service,
Japan Securities Clearing Corporation

Later this year the FSA plans to expand the scope of mandatory clearing to a broader range of securities companies and banks which are regulated as registered financial institutions. The JSCC proactively responded to the upcoming requirement to cover transactions by non-JSCC participants, by launching a new system for client clearing of JPY interest rate swaps (IRS) in February. The JSCC is currently working with clearing brokers towards the expansion of users of the platform through their client clearing services.

Mr. Hirano will give an overview of the upcoming regulatory trends surrounding mandatory clearing and of the client clearing framework at the JSCC, as well as the necessary preparations for buy-side firms and firms with smaller operations considering becoming users (clients) of the client clearing services.

(This presentation is recommended for firms which are not JSCC clearing participants currently but considering becoming users of client clearing services)

Takeshi Hirano joined Tokyo Stock Exchange in 1989 and started his career in post trade business development at TSE in June 2000. He was previously in charge of planning the TSE strategy for clearing and settlement. In addition to his role on a number of clearing and settlement committees in Japan, Mr. Hirano is an executive committee member of CCP12-The Global Association of Central Counterparties. He has an MBA from Haas School of Business, UC Berkeley.