Refinitiv Launches Electronic Trading Correspondence Service in Indonesia

Refinitiv, a LSEG company, today announced the launch of its first global electronic transaction matching service in Indonesia, as the Southeast Asian country focuses on developing its financial market.

The launch represents Indonesia’s first interbank electronic marketplace for Rupiah trading.

Refinitiv Matching is the industry leading solution that delivers real-time credit selection, enhanced price discovery, concentrated liquidity, and efficient execution for FX traders. This market-leading central limit order book offers a new level of operation for FX traders. Refinitiv Matching is standardized and adapted to the conditions of the local Indonesian market.

The upgraded version of Refinitiv Matching includes the integration of new features that meet emerging customer and market demand. It provides users with access to deeper liquidity pools, increases market participation, improves price discovery, and helps regulators maintain a fair and transparent market. Refinitiv Matching will offer Indonesian users the opportunity to explore sources of liquidity, compare trades and develop systematic FX trading strategies.

“Refinitiv has been in Indonesia since 1984 and we are firmly committed to supporting an efficient, transparent and resilient financial market in the country. We are extremely proud to work with Bank Indonesia (BI) and major national banks to take this key step in automating and digitizing FX trading workflows. The trust and active collaboration of the central bank and the banking community will contribute to a profitable and transparent interbank market and is an important step in Bank Indonesia’s plan to create an advanced national money market in Indonesia, ”said Alfred Lee , General manager. , Data & Analytics, Asia-Pacific at LSEG.

“Bank Indonesia invites market operators to contribute to the development of the financial market in Indonesia, including Refinitiv as a pioneer with its Matching system. The availability of the correspondence system is in line with the Money Market Development Master Plan 2025 which was published last year. One of the key initiatives to embody the third vision of the plan is to strengthen financial market infrastructure. The launch of the counterparty exchange system is expected to promote market development by increasing liquidity, efficiency and price transparency, ”said Destry Damayanti, Senior Deputy Governor of BI.

She added: “Bank Indonesia believes that the development of financial markets requires efficient, reliable and resilient financial market infrastructures. Therefore, as a more advanced trading system, Refinitiv must ensure its operational and system resilience, as well as always comply with the regulations of Bank of Indonesia regarding the market operator. This is necessary to maintain the confidence of participants in national financial markets so that a fair, transparent, efficient and advanced financial market can be achieved. “

“We are delighted to participate in the launch of Refinitiv Matching as a continuing step to enhance our treasury trading capabilities and support the development of the Indonesian financial market. The aim of this initiative is to make the market more efficient, transparent and resilient. Finally, this initiative is in line with our BNI RACE (Risk Culture, Agile, Collaboration and Execution Oriented) values ​​to achieve our goal “Melompat Lebih Tinggi” (jump higher) ”, said Ibu Ikhwani Fauzana, Head of Global Markets at Bank Negara. Indonesia.

“Refinitiv Matching will be an ingenious platform for Forex trading in the BIS. We are fascinated by its standardization to Indonesian local market conditions and its new features that will encourage transparent, efficient and profitable trade. We are very excited to launch Refinitiv Matching as Indonesia’s premier interbank electronic marketplace for Rupiah trading. Its outstanding features which offer real-time credit selection, enhanced price discovery, concentrated liquidity and efficient execution will contribute to the further development of the Indonesian financial market. The launch is eagerly awaited in the Indonesian financial market as the leading interbank electronic marketplace for Rupiah trading. The ability to explore sources of liquidity, compare transactions and develop systematic forex trading strategies helps us to deepen the forex market, ”said Pak Itang Rusdinar, Head of Global Markets Group at Bank Rakyat Indonesia.

Pak Panji Irawan, Chairman of the Indonesian Foreign Exchange Committee and Director of Treasury and International Banking at Bank Mandiri also said, “We are delighted to start trading USDIDR through Refinitiv Matching. This will be the beginning of the evolution of the Indonesian financial market towards an advanced, transparent and efficient market.

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