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US Customers gain access to Japan’s Yen swap market

A pedestrian walks past an electronic stock board displaying the figure of the Nikkei Stock Average.
Last year the JSCC sent a letter to the CFTC asking for the approval, which has now been granted. Photo: Tomohiro Ohsumi/Getty Images

Hameed Shuja

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A CFTC no-action letter means that the commission will not take enforcement action against the JSCC for clearing swaps for US clients and US customers will gain access to better pricing and liquidity.

The CFTC has paved the way for US Customers to access Japan’s Yen swap market, in what has been described as a regulatory victory for hedge funds.

According to a Japan Securities Clearing Corporation (JSCC) press release, the CFTC last week allowed the JSCC to expand its clearing services

The

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