Jakarta, IO – Bloomberg and PT Antara Electronic Transactions Pratama (Antara ETP) have recently launched a new electronic trading platform (ETP) as a solution for foreign exchange in Indonesia, under Bank Indonesia (BI) monitoring as the regulator of money and foreign exchange markets. The collaboration allows Bloomberg Tradebook Singapore Pte Ltd to provide technological assistance for Antara ETP, who owns the BI license as an ETP operator.
This platform supports trade negotiations for foreign exchange instruments towards the Rupiah for domestic markets. ETP customers can request prices from multiple banks at once, negotiate trading and simultaneously record negotiation details into order logging, risk management, and back-office systems. The ETP is also integrated with BI’s real-time monitoring system, the Foreign Exchange Transactions Against Rupiah (SISMONTAVAR).
“Bloomberg is a global market leading provider of electronic foreign exchange trading and has been supporting Indonesia in building a transparent and efficient foreign exchange market for years,” said Medyatama Suryodiningrat, the Main Director of LKBN Antara, Antara ETP’s holding corporate. “We are very pleased to collaborate with Bloomberg to facilitate market players to trade electronic Rupiah amid the fast-growing foreign exchange market,” he continued.
Read: PROI Agencies alert misinformation & fake news cases to rise in 2022
“Bloomberg is a highly dedicated partner in financial markets in Indonesia. Collaborating with Antara ETP will further strengthen Bloomberg’s long-term commitment to developing the Indonesian market. Our partnership with Antara ETP will support the foreign exchange business for financial institutions and businesses in Indonesia,” remarked Tod Van Name, Global Head of FX Electronic Trading at Bloomberg.
Bloomberg’s FXGO platform will allow Indonesian foreign exchange traders to perform smart trading, hedging and investment decisions. FXGO is equipped with Antara ETP’s advanced features: netting, staging, pre-trade and post-trade allocation, reporting, and “straight-through processing.”