E-Trading Extends in Indonesia with Bloomberg, Antara, Link Up
Posted by Colin Lambert. Last updated: December 22, 2022
Almost 18 months after Refinitiv launched Matching in Indonesia, the local FX market is seeing greater automation through a partnership between Bloomberg and local trading platform Antara.
The new solution has been launched under Bank Indonesia regulations governing market operators in the FX and money markets, with Bloomberg Tradebook Singapore the technology provider to Antara which is a licensed electronic trading platform provider with Bank Indonesia.
The platform supports trade negotiation in FX IDR instruments for onshore participants and users can request prices from preferred banks, negotiate trades and integrate trade negotiation details into order management, risk management and back office systems. The platform is also integrated with Bank Indonesia’s Sismontavar real-time trade monitoring system.
“Bloomberg has been supporting Indonesia in building a transparent and efficient FX market for years,” says Medyatama Suryodingingrat, president director LBKN Antara. “We are delighted to collaborate to use the power of technology to facilitate market participants to trade Indonesian rupiah instruments electronically in the burgeoning FX market.”
Tod Van Name, head of FX electronic trading at Bloomberg, adds, “We look forward to continuing to provide foreign exchange business support for financial institutions and enterprises in Indonesia.”