Clearing qualifications consist of four types based on tradable asset classes: Cash Products, Government Bond Futures and Futures Options, Index Futures and Options, and Individual Options.
Each of the clearing qualifications is also divided into two classes. One is Principal Clearing Qualification, entitled to settle only their own transactions and the other is Agency Clearing Qualification, entitled to settle, in addition to its own transactions, those of a non-clearing participant.
Basically, Securities companies, securities finance companies and registered financial institutions prescribed by the Securities and Exchange Act in Japan may, with the approval of JSCC, acquire admissions from JSCC and become clearing participants.
