Ueda Tradition Securities has been granted registration from the Japan Financial Services Agency (JFSA) as a Financial Instruments Business Operator (FIBO). As such, UT Trade will operate an ETP for Japanese Yen Interest Rates Swaps cleared through JSCC and London Clearing House.
Japan FSA has mandated the use of ETP for JPY denominated "plain vanilla" Interest Rate Swaps (5 year, 7 year and 10 year only) for financial institutions with outstanding OTC derivatives transaction notional of no less than JPY 6 trillion. ETP operators are required to have an Order Book and institutions are required to transact with either the voice or electronic order book or via Request For Quote (RFQ) from no less than 3 counterparties. Trade information will be published by the Ueda Tradition ETP to this public venue after transaction and "without delay". Block trades will be reported here at 15:00 on the following day.
Access to UT Trade will be offered through electronic interface, independent software vendors and through Ueda Tradition Securities voice broking desk.
UT Trade intends to offer a full suite of functionality, including Order Book, RFQ, block trade, crossing, voice and auction interaction.
To learn more About UT Trade, please Contact Us