JAKARTA PT Bursa Efek Indonesia (IDX) officially launched a new feature of the Repurchase Agreement (Repo) Transaction in the Alternative Market Organizer System (SPPA).
IDX Development Director Jeffrey Hendrik said the launch was in line with the SPPA development roadmap and aimed at increasing efficiency, effectiveness, and liquidity from debt securities trading and money markets by banks, Regional Development Banks (BPD) and Stock Companies.
Jeffrey conveyed that with the launch of the Repo Transaction feature, SPPA Service Users can obtain benefits for making Repo transactions using underlying debt securities, especially Government Securities (SUN).
According to him, this Repo transaction will complement the outright (sale break) transaction feature which is currently available on the SPPA IDX platform.
"Repo's transaction with underlying SUN on the same platform as SUN's buying and selling transactions will make SPPA a pool of liquidity for debt securities trading in Indonesia," he explained at a press conference for the launch of SPPA, Monday, March 10.
Jeffrey said this would make it easier for banks, BPD, Stock Companies and money brokers who are members of SPPA Service Users to monitor the debt securities market and the money market on the same single platform.
"SPPA also offers a trade process up to a straight-through-processing post trade (STP), thus responding to the industry's need for a transaction mechanism in the money market," he said.
Jeffrey said that the launch of the SPPA Repo was a momentum for the IDX to play a more active role in the development and strengthening of financial markets in Indonesia.
According to him, in accordance with the digitalization and strengthening strategy of the Financial Market infrastructure implemented by Bank Indonesia, the SPPA Repo is targeted to be a major part of the Financial Market Infrastructure in Indonesia.
"We believe SPPA will play an important role in the Debt and Money Market Trading ecosystem in Indonesia. IDX is committed to providing the best service so that market participants get the best prices, the best practice trading mechanism and an efficient post-trade process," he said.
SEE ALSO:
Jeffrey hopes that SPPA can be used as a joint platform by the Financial Services Authority (OJK), the Ministry of Finance, and Bank Indonesia for price monitoring, price quotient media by Primary Dealers, as well as assisting in decision making related to fiscal policy and monetary policy.
For information, SPPA scored a brilliant credit transaction performance in 2024 with a total transaction value of IDR 246.1 trillion and Interdealer Domestic Market Share reached 16 percent, namely an increase in total transaction value of 76 percent and a market share of 77 percent compared to the previous year.
In addition, currently there are 39 SPPA Service Users who can directly take advantage of the Debt Repo transaction service starting earlier this year, which increased by 95 percent compared to when it was implemented.
This number is targeted to increase in line with the socialization, communication and synergy that continues to be built by the IDX with market players.
Jeffrey conveyed that with the increasingly complete service through the presence of the Repo Transaction feature, the IDX SPPA is expected to be the main choice for debt securities market players and the money market in Indonesia's capital market.
"SPPA will also continue to strive to become an efficient and safe system for the completion of Repo transactions while at the same time supporting the sustainability of the capital market and the money market in Indonesia," he said.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
