麻豆传媒

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
麻豆传媒
Leading the Way

Global 麻豆传媒 Finance News and Commentary
≔ Menu
麻豆传媒
Leading the Way

Global 麻豆传媒 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Industry news
  3. Indonesia launches CCP for money market and FX
Industry news

Indonesia launches CCP for money market and FX


02 October 2024 Indonesia
Reporter: Carmella Haswell

Generic business image for news article
Image: alfin/stock.adobe.com
The Indonesia Clearing and Guarantee Corporation (IDClear) has launched a central counterparty (CCP) for money market and foreign exchange (PUVA).

It comes from a collaboration with Bank Indonesia, the Indonesia Stock Exchange, and eight shareholder banks.

The existence of a CCP will be a 鈥渘ew beginning鈥 for the settlement of transactions in the financial market that is safer and more efficient, says IDClear.

IDClear says it will accelerate efforts to deepen the financial market in Indonesia towards a modern and advanced national economy.

At a recent event in Indonesia, where the news was first announced, the Governor of Bank Indonesia Perry Warjiyo stated that IDClear has met the 22 Principles for Financial Market Infrastructures (PFMI), making it a Qualified CCP (QCCP).

Warjiyo says the establishment of the CCP PUVA is expected to enhance the efficiency and security of transaction settlements, thereby increasing the value of existing transactions.

With its role as CCP, IDClear says it is ready to provide clearing and assurance services that prioritise reliability in the provision of operational system infrastructure and risk management in transaction settlement
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 麻豆传媒 Finance Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →