Indonesia Clearing House Designated as BI's Money Market and Foreign Exchange Clearing Institution

TEMPO.CO, Jakarta - Indonesia Clearing House (ICH) has been officially registered by Bank Indonesia (BI) as a Clearing House for Foreign Exchange and Money Market Derivatives (PUVA). This designation is formalized under BI Letter Number 27/301/DPPK/Str/B.

Megain Widjaja, President Director of ICH, stated that this decision signifies strong confidence from the government, particularly from BI as the regulator for PUVA derivative trading. "As a clearing house, we are prepared to support various BI agendas for the development of foreign exchange and money derivative markets," Megain said in a written statement released on Saturday, June 14, 2025.

Megain emphasized ICH's commitment to continuous innovation to foster a modern and efficient PUVA derivatives market, prioritizing integrity, accountability, and innovation. She added, "Thus, it can become the backbone in the development of a deep, inclusive, and globally competitive financial market."

According to him, ICH, in its role as a PUVA clearing institution, will play a critical role in upholding the integrity of the financial market infrastructure. Consequently, they will ensure the market operates fairly, efficiently, and orderly, even during volatile conditions.

"We are optimistic that by implementing a comprehensive margin system methodology and our tiered risk management, ICH will effectively support financial system stability, monetary policies, and economic financing synergy," she explained.

She expressed hope that the synergy between ICH as a clearing institution and BI as the PUVA regulator will serve as a positive catalyst in several ways. Firstly, it will promote market inclusivity through the use of innovative financial derivative products. Secondly, it will enhance financial market integrity via clearing system connectivity in transaction oversight.

Thirdly, it will increase transparency in transaction settlement processes through comprehensive recording systems. Megain believes this positive catalyst will encourage broader participation from both domestic and international market players and open doors for the development of new financial instruments.

Megain expressed optimism about the great development potential of the Indonesian financial market. "Therefore, the key lies in strengthening capacity and fostering strategic collaboration between ICH as a clearing institution and all stakeholders, including the PUVA regulator, in this case, BI," he concluded.

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