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Japan Exchange Group, Inc. (hereinafter "JPX") and Japan Securities Depository Center, Inc. (hereinafter "JASDEC") announced today that they have selected three use cases for verification using a DLT test environment developed by JPX-led consortium(*2) in their pilot test project of a DLT information sharing platform in the field of securities post-trade(*1) launched in April 2020.
The project participants(*3) submitted issues related to securities post-trade from their perspectives as industry practitioners. The issues were then categorized into nine use cases.
In reviewing these nine use cases, consideration was given to the effects at the time of its practical application and feasibility for testing in a limited period of time. While all the nine use cases are considered to be potentially effective in resolving the issues of the industry, JPX and JASDEC, after the consultation with the participants, have selected three use cases to be verified in this project due to the limited test period.
[Use Cases Selected for Verification]
| Case No. | Outline |
| Use Case 1 | Sharing fund/SSI/basic corporate information |
| Use Case 2 | Resolution of non-compatibility of fund distribution networks |
| Use Case 3 | Sharing information on borrowing/lending fee/collateral interest and dividend equivalent in stock borrowing and lending transactions |
[Other Use Cases Considered]
| Case No. | Outline |
| Use Case (a) | Sharing information on changes in collateral/margin for listed futures and options |
| Use Case (b) | Sharing information in trade reconciliation for foreign bonds |
| Use Case (c) | Centralized management of dividend information |
| Use Case (d) | Centralized management of market price data |
| Use Case (e) | Centralized management of business days of Asian markets |
| Use Case (f) | Sharing information on allocation/confirmation (Continue examination of issues from Ph2 DLT application to trade reconciliation) * Issues not related to DLT platform include consideration of unification of the Equity Confirmation format. |
JPX and JASDEC invite any company who is interested in participating in this verification project to contact them.
For use cases that were not selected, anyone may still bring one's own program, etc. for testing during the period of the verification project. (Adjustments may be made regarding the timing and scale of the test.)
| Use Cases |  |
|---|
(*1) Project Outline
| Project Outline | Pilot Test of DLT Information Sharing Platform in the Field of Securities Post-Trade (Project Name: B-POST) |
| Project Owner | Japan Exchange Group, Inc.; Japan Securities Depository Center, Inc. |
| IT Support Vendor | NEC Corporation |
| Test Period | April to October (scheduled to publish results in November) |
| Participants | Total of 19 financial institutions, vendors, etc. (current) |
(*2) JPX Consortium on DLT Proof-of-Concept Testing
(*3) Participants (in alphabetical order) [Current]
Broadridge (Japan) Limited
Daiwa Asset Management Co.Ltd.
Daiwa Institute of Research Business Innovation Ltd.
DTCC Japan K.K.
HSBC Securities (Japan) Limited
Japan Securities Finance Co., Ltd.
Merrill Lynch Japan Securities Co.,Ltd.
Mizuho Securities Co., Ltd.
MUFG Bank, Ltd.
Nomura Asset Management Co.,Ltd.
Nomura Research Institute, Ltd.
Nomura Securities Co.,Ltd.
OGIS-RI Co.,Ltd.
Sumitomo Mitsui DS Asset Management Company, Limited
The Master Trust Bank of Japan ,Ltd.
XNET Corporation
And others, 19 companies in total
Contact
Japan Exchange Group, Inc. FinTech Laboratory, Corporate Strategy
TEL:(Tokyo)+81-3-3666-1361
<Inquiries related to Use Cases >
Japan Exchange Group, Inc. FinTech Laboratory, Corporate Strategy
E-mail:jpx-fintech@jpx.co.jp
Japan Securities Depository Center, Inc. Corporate Strategy Department
E-mail:souki@jasdec.com
NEC Corporation, 4th Solutions Department, 2nd Financial Solutions Divisio
E-mail:necblockchain@2fs.jp.nec.com