JAKARTA. The central bank is considering the establishment of a new Central Counterparty (CCP) clearing house to deepen the market and reduce the credit risk and systemic risk of foreign exchange transactions in financial markets. During a seminar entitled "Central Counterparty Clearing Development in India, lesson learnt" held at the Bank Indonesia (BI) office, BI senior deputy governor Mirza Adityaswara said market deepening had been its major concern for around five years due to its slow progress. "As part of developing market infrastructure, Indonesia needs to establish a new CCP, an institution where clearing and settlement of financial transactions takes place," Mirza said in Jakarta on Thursday.
Indonesia needs new clearing house for forex
JAKARTA. The central bank is considering the establishment of a new Central Counterparty (CCP) clearing house to deepen the market and reduce the credit risk and systemic risk of foreign exchange transactions in financial markets. During a seminar entitled "Central Counterparty Clearing Development in India, lesson learnt" held at the Bank Indonesia (BI) office, BI senior deputy governor Mirza Adityaswara said market deepening had been its major concern for around five years due to its slow progress. "As part of developing market infrastructure, Indonesia needs to establish a new CCP, an institution where clearing and settlement of financial transactions takes place," Mirza said in Jakarta on Thursday.