BNI Adopts Antara ETP and Bloomberg to Boost FX Trading Accessibility and Transparency

Indonesia – PT Bank Negara Indonesia Persero Tbk (‘BNI’), an Indonesian state-owned bank providing integrated financial services, has adopted FXGO, Bloomberg’s premier multi-bank FX trading solution provided in cooperation with PT Antara Elektronik Transaksi Pratama (‘Antara ETP’), to help BNI streamline its operations and offer greater efficiency and transparency to its client base.  Bloomberg Tradebook Singapore Pte Ltd is the technology provider to Antara ETP which is a licensed ETP provider with Bank Indonesia.

BNI has undergone a digital transformation journey in recent years and selected Bloomberg as their technology partner to identify firm-wide operational and technological efficiencies. FXGO will help BNI to improve their market making, by replacing manual workflows with digital capabilities which simultaneously reduce operational errors and boost speed. The transition will also allow BNI to scale up their non-Indonesian rupiah FX pricing offerings to increase accessibility and liquidity in the local market.

“As Indonesia’s financial sector continues to evolve rapidly, BNI is committed to staying nimble and ahead of the curve. Our aim is to deliver exceptional service that truly meets the needs of our clients while navigating the fast-changing world of finance,” said Okki Rushartomo, Corporate Secretary of Bank Negara Indonesia, “This partnership with Bloomberg will play a vital role in helping us enhance our services and competitiveness and to achieve our vision of being a leading financial institution that our customers can rely on.”

Participating in Antara ETP aids in BNI’s endeavour to boost the FX market, particularly for Indonesian Regional Development Banks (‘BPDs’). BNI is poised to transform FX transactions for BPDs by becoming the first Indonesian bank to offer direct access to primary liquidity through FXGO.

“Digitization has accelerated today’s financial markets and we’ve observed that those firms which embed the right technology are gaining a competitive edge,” said Kelvin Cen, Head of Southeast Asia at Bloomberg. “We are pleased to support BNI in optimizing and digitizing their operations to further grow their business.”

Antara ETP was formed under a cooperation agreement between Bloomberg and Antara, where Antara holds the ETP license issued by Bank Indonesia and operates the Antara ETP venue while Bloomberg provides technology and support services (sales, onboarding, support, compliance, risk) to Antara ETP. Under this arrangement, Bloomberg’s FXGO is made available to Indonesian participants as the premier multi-bank FX trading solution providing access to deep liquidity through real-time pricing, powerful workflow solutions and sophisticated analytics for price takers to negotiate FX transactions with their bank relationships. Antara ETP currently provides negotiation across BI approved currency pairs for spot, outrights, swaps, non-deliverable forwards, and deposits. FXGO also integrates with multiple third-party order management, treasury management and accounting systems and facilitates straight-through processing (STP) in a variety of flexible formats, creating a seamless and efficient investment workflow.

About BNI
BNI, one of Indonesia’s top banks, is committed to offering a diverse range of financial solutions for individuals and dedicated to supporting the growth and success of businesses both domestically and globally. With a commitment to fostering long-term partnerships, BNI delivers a full suite of financial services, including working capital loans, trade finance, cash management, project financing, and treasury solutions. BNI supports Indonesian companies in expanding their global footprint, while assisting multinational corporations in navigating the Indonesian market.

To explore more about BNI’s offerings and initiatives, visit: https://www.bni.co.id/id-id/

About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

Media Contact
Mandy Wu, +65 9621 9960, mwu462@bloomberg.net