Tuesday October 13 2015
News Source: Global Exchanges
Focus: Short Selling
Type: General
Country: Japan
Link: http://www.boj.or.jp/announcements/release_2015/rel151011b.pdf
On 11th October 2015, the Bank of Japan announced that the launch date of the Bank of Japan Financial Network System (BOJ-NET) would be 13th October 2015. The BOJ-NET, which began operations in 1988, supports two separate services; BOJ-NET funds transfer services, and BOJ-NET JGB services.
The new BOJ-NET has the following three main features:
- Latest information technology
- High flexibility to adapt to changes in financial services and various needs.
- Enhance accessibility to cope with changes in the financial environment such as globalization of financial transactions and networking of settlement infrastructures. This includes the adoption of XML and ISO20022 for greater interoperability and enhancements of system capability to extend operating hours.
Financial institutions using the BOJ-NET will improve their collateral and cash management efficiency and promote smoother settlement of JGBs.
With regard to the extension of the operating hours of the new BOJNET, the Bank plans to extend the operating hours up to 9pm from February 15, 2016.
Click on the link above for further details.