The Tokyo Stock Exchange (TSE) is moving forward with its plans to transfer a clearing house for foreign securities from Japan Securities Settlement & Custody, Inc (JSSC), a subsidiary of TSW, to Japan Securities Depository Center, Inc (JASDEC).
Settlement and safekeeping of foreign securities traded at TSE has been handled by JSSC since 1973 when TSE’s Foreign Section was launched.
As a part of development of securities settlement infrastructure in Japan, securities certificates traditionally handled by JSSC have been gradually handed over to JASDEC: domestic securities certificates in 1991, convertible bonds in 2001, non-JGB bonds in January, 2006.
Integration of settlement infrastructure of both domestic and foreign securities is expected to reinforce Japanese securities market as a whole.
By enabling JASDEC to handle foreign securities, TSE hopes to further promote foreign investors’ investment in foreign securities traded in Japan.