Megain Widjaja, President Director of Indonesia Clearing House (ICH) said, "The Decree we received from Bank Indonesia is certainly a great trust from the government, especially Bank Indonesia as the regulator of Money Market and Foreign Exchange (PUVA) derivatives trading. As a Clearing Institution, we are ready to support various agendas from Bank Indonesia for the development of money market and foreign exchange derivatives."

"Our commitment will certainly continue to innovate to make PUVA derivatives a modern and efficient market. As a PUVA clearing institution, ICH is fully committed to prioritizing integrity, accountability, and innovation, so that it can become the backbone in developing a deep, inclusive, and globally competitive financial market," said Megain Widjaja.

Megain Widjaja added, "In our position as a PUVA clearing institution, we will certainly have an important and crucial role in supporting financial market infrastructure with integrity. For this reason, we will ensure that the market continues to function fairly, efficiently and regularly even in volatile conditions. We are optimistic that with the implementation of a comprehensive margin system methodology and tiered risk management that we run, ICH will be able to support financial system stability, monetary policy and synergy of economic financing."

"Hopefully, the synergy between ICH as a clearing institution and Bank Indonesia as PUVA regulator will be a positive catalyst related to several things. First, opening opportunities for market inclusivity through the use of innovative financial derivative products. Second, fostering financial market integrity through clearing system connectivity in transaction supervision. Third, transparency in transaction settlement processes through a comprehensive recording system. This positive catalyst will certainly encourage broader participation from both domestic and international market players, as well as open opportunities for the development of new financial instruments that meet the needs of deepening the national financial market," added Megain Widjaja.

"Indonesia's financial market has great potential to develop, and this can be achieved by achieving the grand vision of deepening Indonesia's financial market. For that, the key word is about strengthening capacity and strategic collaboration between the ICH clearing institution and all stakeholders including PUVA regulators, in this case Bank Indonesia," said Megain Widjaja.

As a Clearing Institution, ICH has long experience as a guarantee clearing and transaction settlement institution in the commodity futures trading industry. In its operational activities, ICH meets all global standard clearing institution standards that allow all supervisory functions to run well and customer protection functions can be maximized. This is also marked by the ISO 27001 certification on Information Security Management System (ISMS) owned by ICH.

As a note, money market and foreign exchange derivative products were previously under the supervision of the Commodity Futures Trading Regulatory Agency (Bappebti), but with the enactment of the Financial Sector Development and Strengthening Law (UU PPSK), supervision and regulation of money market and foreign exchange derivative trading has now moved to Bank Indonesia.