Tuesday October 1 2024
News Source: Global Exchanges
Focus: Clearing & Settlement
Type: General
Country: Indonesia
On 30th September 2024, IDClear announced that, in collaboration with Bank Indonesia, the Indonesia Stock Exchange (IDX), and eight shareholder banks, the Central Counterparty (CCP) for the Money Market and Foreign Exchange (PUVA) in Indonesia has been launched.
IDClear has also met the 22 Principles for Financial Market Infrastructures (PFMI), making it a Qualified CCP (QCCP). The establishment of the CCP PUVA is expected to enhance the efficiency and security of transaction settlements, thereby increasing the value of existing transactions.
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