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Article 119Deposit of Clearing Margin

第百十九条（取引証拠金の預託）

A financial instruments exchange (or, if it is specified in the articles of incorporation that the financial instruments exchange will have another financial instruments clearing organization perform financial instruments obligation assumption service with regard to all or part of the market derivatives transactions on its financial instruments exchange markets (excluding those designated by the Prime Minister; hereinafter the same applies in this Article), the financial instruments clearing organization that performs financial instruments obligation assumption services for market derivatives transactions; the same applies in paragraph (4)), pursuant to the provisions of Cabinet Office Order, must receive a deposit of clearing margin for a market derivatives transaction from the person specified in each of the following items in accordance with the category of cases set forth in that item:

金融商品取引所（その取引所金融商品市場における市場デリバティブ取引（内閣総理大臣の定めるものを除く。以下この条において同じ。）の全部又は一部に関し、他の金融商品取引清算機関に金融商品債務引受業を行わせる旨を定款で定めた場合にあつては、当該市場デリバティブ取引について金融商品債務引受業を行う金融商品取引清算機関。第四項において同じ。）は、市場デリバティブ取引について、内閣府令で定めるところにより、次の各号に掲げる場合の区分に応じ当該各号に定める者から、取引証拠金の預託を受けなければならない。

a member, etc. conducts a market derivatives transaction on its own account; or a member, etc. conducts a market derivatives transaction with which it has been entrusted, after receiving a deposit of customer margin based on the provisions of paragraph (3):the member, etc.;

会員等が自己の計算において市場デリバティブ取引を行う場合又は会員等がその受託した市場デリバティブ取引を第三項の規定に基づき委託証拠金の預託を受けて行う場合　当該会員等

a member, etc. conducts a market derivatives transaction with which it has been entrusted (excluding a market derivatives transaction with which the member, etc. has been entrusted by a person that has undertaken brokerage (hereinafter referred to as a "broker" in this Article) for entrusting a market derivatives transaction to that member, etc. (hereinafter referred to as a "brokered market derivatives transaction" in this Article); hereinafter the same applies in this item) (other than in a case specified in the preceding item):the person entrusting the market derivatives transaction (meaning the person that entrusts a member, etc. with a market derivatives transaction, which is not a broker; hereinafter the same applies in paragraph (3));

会員等がその受託した市場デリバティブ取引（会員等に対する市場デリバティブ取引の委託の取次ぎを引き受けた者（以下この条において「取次者」という。）から受託した当該市場デリバティブ取引（以下この条において「取次市場デリバティブ取引」という。）を除く。以下この号において同じ。）を行う場合（前号に掲げる場合を除く。）　当該市場デリバティブ取引の委託者（会員等に対して市場デリバティブ取引を委託した者であつて取次者でないものをいう。第三項において同じ。）

a member, etc. conducts a brokered market derivatives transaction with which it has been entrusted by a broker that has received a deposit of brokerage margin based on the provisions of the following paragraph (other than in a case specified in item (i)):the broker; or

会員等が、次項の規定に基づき取次証拠金の預託を受けている取次者から受託した取次市場デリバティブ取引を行う場合（第一号に掲げる場合を除く。）　当該取次者

a member, etc. conducts a brokered market derivatives transaction (other than in a case specified in item (i) or the preceding item):the person that requested the broker to broker the entrustment of the brokered market derivatives transaction (hereinafter referred to as the "applicant" in this Article).

会員等が取次市場デリバティブ取引を行う場合（第一号及び前号に掲げる場合を除く。）　当該取次市場デリバティブ取引の委託の取次ぎの申込みをした者（以下この条において「申込者」という。）

Pursuant to the provisions of Cabinet Office Order, a broker may have an applicant deposit a brokerage margin with the broker for undertaking to broker the entrustment of a market derivatives transaction.

取次者は、市場デリバティブ取引の委託の取次ぎの引受けについて、内閣府令で定めるところにより、申込者に、当該取次者に取次証拠金を預託させることができる。

Pursuant to the provisions of Cabinet Office Order, a member, etc. may have the person entrusting a derivatives transaction or the broker (or the applicant, if the market derivatives transaction falls under the category of a brokered market derivatives transaction with which a member, etc. is entrusted by a broker that has not a deposit of brokerage margin from the applicant based on the provisions of the preceding paragraph) deposit customer margin with the member, etc. in connection with its becoming entrusted with a market derivatives transaction.

会員等は、市場デリバティブ取引の受託について、内閣府令で定めるところにより、委託者又は取次者（当該市場デリバティブ取引が、前項の規定に基づく取次証拠金の預託を申込者から受けていない取次者から受託した取次市場デリバティブ取引である場合にあつては、申込者）に、当該会員等に委託証拠金を預託させることができる。

A financial instruments exchange must manage the clearing margin that has been deposited with it based on the provisions of paragraph (1) pursuant to the provisions of Cabinet Office Order.

金融商品取引所は、内閣府令で定めるところにより、第一項の規定に基づき預託を受けた取引証拠金を管理しなければならない。

Securities and other instruments prescribed by Cabinet Office Order may serve as the clearing margin referred to in paragraph (1), brokerage margin referred to in paragraph (2), and customer margin referred to in paragraph (3), pursuant to the provisions of Cabinet Office Order.

第一項の取引証拠金、第二項の取次証拠金及び第三項の委託証拠金は、内閣府令で定めるところにより、有価証券その他内閣府令で定めるものをもつて充てることができる。

The provisions of Article 115, paragraph (1) apply mutatis mutandis to the clearing margin referred to in paragraph (1) (limited to that which is specified by Cabinet Office Order). In this case, in Article 115, paragraph (1), the phrase "purchase and sale of securities or market derivatives transaction" is deemed to be replaced with "market derivatives transaction".

第百十五条第一項の規定は、第一項の取引証拠金（内閣府令で定めるものに限る。）について準用する。この場合において、同条第一項中「有価証券の売買又は市場デリバティブ取引」とあるのは、「市場デリバティブ取引」と読み替えるものとする。

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Article 119Deposit of Clearing Margin