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This is to announce that, with cooperations of the stakeholders, ranging from January 2023, Japan Securities Clearing Corporation, CCP beneath Japan Exchange Group, Inc., implements a blockchain know-how within the settlement by supply of rubber futures as detailed under, as a primary shot of its utilization of a blockchain know-how.
Subject
- Settlement by supply of Rubber (RSS3) Futures* at Osaka Exchange, Inc.
- Futures Contracts on RSS (Ribbed Smoked Sheet) No.3 which is probably the most normal pure rubber graded by worldwide organizations or public authorities of the nations of manufacturing.
Utilization Details
- Currently, a settlement by supply of Rubber Futures is carried out by an trade of a doc known as “delivery order,” which permits its holder to obtain a supply of rubber. Going ahead, the supply technique will migrate to an on-line trade of a token recording the supply order info utilizing blockchain know-how.
Start Timing/Number of Users
- From the supply for Jan. 2023 Contract Month Contracts (Date of Settlement by Delivery: January 31, 2023 (Tuesday))
- Total of 13 companies consisting of promoting/shopping for Clearing Participants and purchasers within the settlement by supply of rubber, and warehouses taking custody of rubber to be delivered
Expected Effect
- By this, the supply order course of, corresponding to preparation and supply, which have been carried out amongst vendor/purchaser/warehouse at every time of the settlement by supply of rubber, will now not be crucial and the settlement by supply will full on-line, and thus an effectivity of the settlement by supply shall be enhanced.
Future Prospect
Expansion to Precious Metals
- A settlement by supply of valuable metals, corresponding to gold, silver and platinum, that are extra liquid than rubber, is at present carried out by an trade of the securities known as “warehouse receipts.”
- Unlike supply orders, warehouse receipts are securities which will also be used as collateral for numerous trades. Its digitalization is predicted to be mentioned on the Legislative Council of the Ministry of Justice going ahead. So, we are going to hold our eyes on a standing of such discussions and examine feasibility of its digitalization as subsequent step.
Further Enhancement of Settlement Efficiency and Strengthening of Response Capacity for Future
- Digitalization of property utilizing blockchain know-how has already been realized in small-lot securities, such a much less liquid actual estates or bonds.
- Japan Securities Clearing Corporation determined its utilization of Blockchain Technology this time as a primary trial within the space of Japanese listed merchandise buying and selling. It will try for an enhancement of settlement effectivity by implementation of recent applied sciences in addition to strengthening of its response capability for the long run with a view to a doable enlargement of utilization of recent applied sciences like this within the buying and selling and clearing/settlement of extra liquid listed merchandise and OTC merchandise.
| CCP’s Blockchain Technology Utilization – Implement for Rubber Futures Settlement by Delivery as a First Shot – |
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Contact
Japan Securities Clearing Corporation Clearing Planning Department
TEL:+81-3-3665-1234 (Main Phone No.)
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