---
title: "日本証券クリアリング機構 (JSCC)"
aliases: ["JSCC", "Japan Securities Clearing Corporation", "日本証券クリアリング機構"]
domain: securities
created: 2026-05-20
last_updated: 2026-07-30
last_tended: 2026-07-30
review_by: 2026-11-20
confidence: likely
tags: [securities, clearing, ccp, market-infrastructure, jgb]
status: active
sources:
  - "https://www.jpx.co.jp/jscc/en/company/profile.html"
  - "https://www.jpx.co.jp/jscc/en/company/regulatory-status.html"
---

# 日本証券クリアリング機構 (JSCC)

## Wiki route

This entry sits under [[securities/INDEX|securities index]]. Read it with [[securities/financial-instruments-business-operators-japan-index|financial instruments business operators japan index]] for adjacent context and [[financial-licenses/INDEX|JapanFG index]] for the broader system boundary.

## TL;DR

Japan Securities Clearing Corporation is the central clearing layer inside the JPX group. Its official company profile covers clearing services for securities trading and other transactions under the Financial Instruments and Exchange Act, plus commodity-transaction debt assumption under the Commodity Derivatives Act.

For FinWiki, JSCC is the risk-mutualization and collateral node connecting exchange trades, derivatives, JGB clearing, OTC derivatives clearing, commodity clearing, and settlement flows.

## System Map

The following table is scoped to public primary sources (jpx.co.jp). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ^[source:jpx.co.jp]

| Layer | JSCC reading |
|---|---|
| Parent / main shareholder | [[financial-regulators/japan-exchange-group|Japan Exchange Group]] |
| Legal form | Japan Securities Clearing Corporation |
| Incorporated | 2002-07-01 |
| Operations started | 2003-01-14 |
| Capital | 9.58 billion yen |
| Legal role | Financial instruments clearing organization and commodity-clearing service provider. |

## Clearing Map

The following table is scoped to public primary sources (jpx.co.jp). It restates licence / structure / product boundaries from those materials and does not invent market share, ranking, or unstated numerical claims. ^[source:jpx.co.jp]

| Clearing family | Why it matters |
|---|---|
| Cash securities | Exchange-traded equity and securities obligations. |
| Listed derivatives | OSE derivatives and margin risk management. |
| JGB clearing | Government bond settlement-risk reduction and collateral plumbing. |
| OTC derivatives | Interest-rate swap and other OTC clearing frameworks. |
| Commodity transactions | Post-2020 commodity clearing integration. |

## Strategic Reading

JSCC is where market volume becomes counterparty risk. It matters most during:

- margin stress (with [[financial-regulators/japan-securities-finance|JSF]] providing the standardized financing layer);
- volatility spikes on [[securities/tokyo-stock-exchange|TSE]] or [[securities/osaka-exchange|OSE]];
- JGB collateral pressure (linked to [[money-market/jgb-repo-market-japan|JGB repo market]]);
- clearing participant defaults;
- product migration between exchange, PTS, OTC, and tokenized markets ([[securities/osaka-digital-exchange|ODX]] / [[payment-firms/progmat|Progmat]] context).

## Related

- [[financial-regulators/japan-exchange-group]]
- [[securities/tokyo-stock-exchange]]
- [[securities/osaka-exchange]]
- [[securities/tokyo-commodity-exchange]]
- [[securities/japan-securities-depository-center]]
- [[money-market/jgb-repo-market-japan]]

## Sources

- JSCC: Company Profile.
- JSCC: Regulatory Status.