Tod Van Name

Bloomberg offers FX IDR Electronic Trading Platform in Indonesia

January 2023 in News Headlines

Bloomberg and PT Antara Elektronik Transaksi Pratama (“Antara ETP”) have launched a new solution to offer a foreign exchange electronic trading platform (“ETP”) in Indonesia under Bank Indonesia regulations governing market operators in the foreign exchange and money markets. Through this collaboration, Bloomberg Tradebook Singapore Pte Ltd is the technology provider to Antara ETP which is a licensed ETP provider with Bank Indonesia. The ETP supports trade negotiation in FX IDR instruments for onshore participants. Users can request prices from preferred banks, negotiate trades and seamlessly integrate trade negotiation details into order management, risk management and back office systems. The ETP is also integrated with Bank Indonesia’s SISMONTAVAR (Sistem Monitoring Transaksi Valuta Asing Terhadap Rupiah) real-time trade monitoring system. “Bloomberg is a global leading FX electronic trading solution provider and has been supporting Indonesia in building a transparent and efficient FX market for years,” said Medyatama Suryodingingrat, President Director LBKN Antara. “We are delighted to collaborate with Bloomberg to use the power of technology to facilitate market participants to trade Indonesian rupiah instruments electronically in the burgeoning FX market.”

“Bloomberg has been a dedicated partner for the Indonesian financial markets, and the collaboration with Antara ETP further cements Bloomberg’s long-term commitment to the Indonesian market. With the partnership with Antara ETP, we look forward to continuing to provide foreign exchange business support for financial institutions and enterprises in Indonesia,” said Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading. Through Bloomberg’s FXGO, the Indonesian FX trading community is able to make informed trading, hedging and investment decisions with advanced features such as netting, staging, pre-trade and post-trade allocations, reporting and straight-through processing, supported by Antara ETP.