Refinitiv has launched its global electronic trading Matching service in Indonesia, supporting the Southeast Asian nation’s efforts to further develop its financial market. The launch represents Indonesia’s first interbank electronic marketplace for the trading of Rupiah.
The upgraded version of Refinitiv Matching’s central limit order book integrates new features that meet emerging client and market demand, and is suited to market conditions in Indonesia. It offers users access to deeper liquidity pools, increases market participation, enhances price discovery and helps regulators maintain a fair and transparent marketplace.
Refinitiv Matching will offer users in Indonesia the ability to explore liquidity sources, benchmark trades, and develop systematic FX trading strategies.
“Refinitiv has had a presence in Indonesia since 1984 and we are strongly committed to supporting an efficient, transparent and resilient financial marketplace within the country. We’re immensely proud to collaborate with Bank Indonesia and leading national banks to drive this key milestone in automating and digitizing FX trading workflows,” said Alfred Lee, Managing Director, Data & Analytics, Asia Pacific at LSEG.
According to Destry Damayanti, Senior Deputy Governor at Bank Indonesia, the country’s central bank: “Bank Indonesia welcomes market operators to contribute in developing the financial market in Indonesia, including Refinitiv as a pioneer with its Matching system. … The launching of the matching trading system is expected to foster market development by increasing liquidity, efficiency and price transparency.”
Ibu Ikhwani Fauzana, Head of Global Markets at Bank Negara Indonesia, added: “We are delighted to participate in the launch of Refinitiv Matching as a continuous step to enhance our treasury dealing capabilities and support Indonesia’s financial market development. The purpose of this initiative is to bring the market forward to be more efficient, transparent, and resilient.”