VERMEG and IDClear to bring digital solutions to Indonesia
11 September 2024 Indonesia
Image: Creativa_Images/stock.adobe.com
VERMEG has signed a Memorandum of Understanding (MoU) to formalise its collaboration with IDClear, the clearing and guarantee central counterparty (CCP) for the Indonesian financial market.
IDClear has been a client partner of VERMEG since 2021, using the firm’s cross-product collateral management solution MEGARA.
The firm will now extend its collaboration with VERMEG to include its Digital CCP platform, which offers collateral optimisation, collateral assessment, customer onboarding, and default management.
The platform, built on a cloud-native application programming interface (API) architecture, is designed to assist market infrastructure and capital markets clients to optimise their assets, increase productivity and enhance risk management capabilities.
Badreddine Ouali, VERMEG CEO, says: “By combining IDClear's collateral management expertise with our flexible Digital CCP solutions, we are empowering IDClear and its members to optimise their inventory and productivity, increasing profitability, as well as to help to reduce their credit, market, and systemic risk."
Iding Pardi, president director of IDClear, adds: "We are delighted to partner with VERMEG to extend their CCP solutions to the Indonesian financial market. This allows our clearing members with the opportunity to benefit from the latest in cloud-ready digital technologies."
IDClear has been a client partner of VERMEG since 2021, using the firm’s cross-product collateral management solution MEGARA.
The firm will now extend its collaboration with VERMEG to include its Digital CCP platform, which offers collateral optimisation, collateral assessment, customer onboarding, and default management.
The platform, built on a cloud-native application programming interface (API) architecture, is designed to assist market infrastructure and capital markets clients to optimise their assets, increase productivity and enhance risk management capabilities.
Badreddine Ouali, VERMEG CEO, says: “By combining IDClear's collateral management expertise with our flexible Digital CCP solutions, we are empowering IDClear and its members to optimise their inventory and productivity, increasing profitability, as well as to help to reduce their credit, market, and systemic risk."
Iding Pardi, president director of IDClear, adds: "We are delighted to partner with VERMEG to extend their CCP solutions to the Indonesian financial market. This allows our clearing members with the opportunity to benefit from the latest in cloud-ready digital technologies."
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Íø±¬³Ô¹Ï Finance Times
