Indonesian CCP seeks thumbs-up from US, UK and Japan
Growing foreign bank interest pushes IDClear to pursue regulatory approval overseas
Indonesia’s new central counterparty (CCP) for foreign exchange derivatives is to seek recognition from regulators in three overseas jurisdictions this year, amid a flurry of membership enquiries from foreign banks.
“[Foreign banks] have shown their enthusiasm [and] willingness to join,” said Abdul Hadie, head of strategic planning and enterprise risk management at Indonesia Clearing and Guarantee Corporation (IDClear).
“The major concern is when we will apply for recognition in their home
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