JSCC, ASX see hypothetical stress loss breaches in Q1

Single-member default in worst-case scenario would have exceeded available resources

The Japan Securities Clearing Corporation (JSCC) and the Australian Securities Exchange (ASX) both had a day in the first quarter when the hypothetical default of a single clearing member in a stress scenario would have overwhelmed their default funds.

The JSCC’s stressed breach occurred at its ETP cash securities division, where the estimated stress loss exceeded pre-funded default resources by ¥3.6 billion ($23.1 million), the largest such excess on record at the clearing service.

!function(e,n

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here