Clearstream first ICSD to offer international settlements of JGBs
Press Release 22 November 2006
Clearstream has become the first international central securities depositary (ICSD) to offer settlement of interest bearing Japanese Government Bonds (JGBs) outside Japan. The service is available to customers immediately
Clearstream has been approved both as Foreign Indirect Participant (FIP) in the Bank of Japan’s Government Bonds Book-entry System and as Qualified Foreign Intermediary (QFI) by the Japanese National Tax Office. It can now offer book entry and internal settlements of JGBs on its Luxembourg platform.
With over USD 7 trillion of securities in issuance, the Japanese government debt market is the largest in the World.
Jeffrey Tessler, CEO of Clearstream, said “We are delighted to have been given the opportunity to support Japan’s financial authorities in their mission to internationalize the Japanese government debt market and we would like to thank both the Bank of Japan and Japan’s Ministry of Finance for their unflagging assistance in their review of our application. We expect that their collaboration will benefit all participants in the Japanese debt market and we look forward working closely together with Japanese institutions and global market players to help make this market more liquid on a global scale”.
Media contacts:
Bruno Rossignol / Yolande Theis +352-243-31500
bruno.rossignol@clearstream.com / yolande.theis@clearstream.com