{"id":3676,"date":"2016-07-26T20:59:03","date_gmt":"2016-07-27T00:59:03","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-connects-bank-indonesias-real-time-trade-monitoring\/"},"modified":"2019-08-23T04:28:00","modified_gmt":"2019-08-23T08:28:00","slug":"bloomberg-connects-bank-indonesias-real-time-trade-monitoring","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-connects-bank-indonesias-real-time-trade-monitoring\/","title":{"rendered":"Bloomberg connects to Bank Indonesia\u2019s real-time trade monitoring"},"content":{"rendered":"
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Integration of Bloomberg’s foreign exchange platform to SISMONTAVAR will allow banks and brokers to trade FX seamlessly<\/em><\/strong><\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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Jakarta, July 27, 2016 \u2014 In a move that will boost market transparency and greater connectivity within the foreign exchange community, Bank Indonesia will integrate Bloomberg\u2019s commission-free foreign exchange trading platform, Bloomberg FXGO, into its real-time trade monitoring system (SISMONTAVAR). This direct connectivity will enable banks and securities firms in Indonesia to conduct FX transactions seamlessly on their Bloomberg Professional service \u2013 from pre-trade and trade execution to post-trade reporting to the central bank.<\/p>\n

SISMONTAVAR (Sistem Monitoring Transaksi Valuta Asing Terhadap Rupiah) is a real-time monitoring system that allows Bank Indonesia to track transactional data on foreign currencies against the Indonesia Rupiah (IDR). With the integration of Bloomberg FXGO into SISMONTAVAR, Bank Indonesia will be receiving IDR transactions conducted on FXGO, which will ultimately contribute to enhanced market transparency and accuracy of the value of the IDR against foreign currencies.<\/p>\n

The Jakarta Interbank Spot Dollar Rate (JISDOR) is derived from data available on SISMONTAVAR, representing the weighted average of USD\/IDR spot transactions traded in the interbank market. This reference rate reflects the market demand and supply which aids the central bank in responsive policies.\u00a0 It is used extensively by FX market participants to determine the value of their trade, asset or portfolio; and businesses to manage their balance sheets.<\/p>\n

\u201cThis is an important milestone at a time when the global foreign exchange market is looking for new ways to increase transparency and efficiency,\u201d said Tod Van Name, Global Head of FX and Commodities Electronic Trading. \u201cDirect connectivity between Bloomberg FXGO and SISMONTAVAR will allow our clients to achieve significantly faster and more efficient workflow when sourcing and settling their foreign exchange needs, while supporting the requirements of Bank Indonesia.\u201d<\/p>\n

Bloomberg FXGO has a robust foreign exchange community, recording double-digit annual growth rates across number of users, volumes and value of transactions. The ease of executing spot, non-deliverable forward (NDF), option, outright and swap transactions from pre-trade, trade execution to post-trade processes on a single platform offers unique benefits to sell-side and buy-side users on FXGO.<\/p>\n

According to the 10th Triennial Central Bank Survey conducted by the Bank for International Settlements[1]<\/a>, trading in foreign exchange markets rose 61% from six years ago to an average of US$5.3 trillion per day in April 2013.\u00a0 FX spot trading was amongst the most actively traded instruments at US$2 trillion per day.\u00a0\u00a0 In Indonesia, the foreign exchange market turnover stood at US$5 billion in 2013.<\/p>\n

[1]<\/a> Conducted every three years, the 11th<\/sup> Triennial Central Bank Survey will be published in December 2016.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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About Bloomberg<\/strong><\/p>\n

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company\u2019s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Professional service, which provides real time financial information to approximately 325,000 subscribers globally. For more information, visit\u00a0www.bloomberg.com\/company<\/a>\u00a0or\u00a0request a demo<\/a>.<\/p>\n

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