Key facts
- JSCC's cash securities division reported its largest ever stress loss in Q2.
- The division recorded a peak stress loss over initial margin of ¥57.8 billion ($373 million) for a single clearing member default.
- This stress loss exceeded the division's default resources by ¥6.8 billion.
The Japan Securities Clearing Corporation (JSCC) reported its largest ever stress loss at its cash securities division in the second quarter, driven by elevated trading volumes. The division recorded a peak stress loss over initial margin in the event of a single clearing member defaulting of ¥57.8 billion ($373 million). This figure exceeded the division's default resources by ¥6.8 billion. The equivalent figure for the default of two clearing members was ¥80.8 billion.