President & CEO Makoto Sonobe
The Japan Government Bond Clearing Corporation (“JGBCC”) was established through a joint capital investment by the major market participants, namely the securities companies, the banks and the money market brokerage companies, as means to enhance the safety, efficiency and convenience of the Japanese Government Bond market. Since then, JGBCC has been consistently striving to upgrade its user-oriented services, through the development of operational infrastructures, including its systems, and the enhancement of its management efficiency.
The role that JGBCC is expected to play has become ever more pivotal as a result of the unparalleled confusion stemming from the international financial crisis and the ensuing return to normalcy. In particular, our settlement guarantee function in times of emergency, such as when the clearing participants fail, as well as the function to expedite settlement under normal conditions has made us increasingly aware of our significance as the nation’s one and only Japanese Government Bond clearing institution.
In order to consistently utilize these functions, we, at JGBCC, are determined to engage in the reinforcement of our clearing functions as our single most important management task. In specific terms, we intend to set a definitive deadline and concentrate our efforts toward strengthening our financial infrastructure, improving governance and developing systems in order to expand our user-base. Furthermore, we will leverage our expertise acquired through our operations, and from the perspective of financial infrastructure proactively participate and assert our presence toward the improvement of existing rules to the end of reducing the risks of Japanese Government Bond settlement, thereby actively taking part in the realization of a settlement system that would better appeal to the market participants.
Through these efforts, we intend to contribute to the fortification of the international competitive edge of our securities market.
We, therefore, ask for your continued support and encouragement.