Recommendation 1 Recommendation 2 Recommendation 3 Recommendation 4

Recommendation 5 Recommendation 6 Recommendation 7 Recommendation 8

Market selection

Recommendation 2

Securities Systems must allow the option of network access on an interactive basis. They should cope with peak capacity without any service degradation, and have sufficient standby capabilities to recover operations in a reasonably short period within each processing day.

1.	How often, over the last twelve months, has the depository been required to:
	Change its published settlement timetable?	JASDEC system holds a capability for changing its timetable allowing to accept a participant occasional demand. However, for the last twelve months there has been no such case of a timetable change that substantially affected participants’ ordinary business processes.
	Extend the time of opening for settlement input by users?	JASDEC has not postponed the start of input but has extended time for participants to deal with their own internal processing delays on several occasions for the last twelve months.
	Delay start of day processing?	There has been no such delay.
2.	Does the depository operate real time or multiple batch processing for settlement?	JASDEC operates real time processing for settlement during a day in addition to the previous night batch processing.
3.	Does the depository allow interactive communication (on line real time) with its users, enabling settlement input and amendment?	JASDEC provides interactive on line real time communication for participants. In addition, file transfer as an optional transmission method is available for enabling efficient transmission of large amount of data.
4.	Has the depository ever failed to recover an outage within the day or failed to start processing runs for a whole day; and, if so, when did that failure arise and what steps have been taken to prevent a similar event in the future?	After JASDAC started its business in 1991, the only case of failure happened in March 1999. On that day, an on-line control program made a trouble (early in the morning) because the inappropriate parameter was given to the system. The transition process to the hot-standby backup system had not been successful for some time. Though the system was eventually ready for resuming the processing during the business hour, JASDEC decided not to do so for avoiding the confusion among participants with the short time left toward the end of the business hour. All troubles were corrected during the night time of the day and resumed the daily operation next day as usual. In order to prevent such impropriety, more strict control on the current version of the software and the appropriateness of parameters in the system are formalised. In order for handling the hardware trouble, a new remote backup facility has been constructed. When the main frame has a trouble and is estimated to continue failing for a long while, a backup machine will be able to take over the main frame job within an hour and continue operation.