TEMPO.CO, Jakarta – The Indonesian Central Securities Depository (KSEI), Bank Indonesia (BI) and the Financial Services Authority (OJK) inaugurated the use of a new transaction system for the capital market. The payment system is merged with BI's Real Time Gross Settlement (RTGS) system; ensuring success for every capital market transaction.
"With the implementation of the RTGS, transactions via custodian banks will no longer use a paying bank," said KSEI general director Margeret Tang in Jakarta, yesterday.
According to Margeret, the RTGS system will also be applied to securities companies trading stocks and bonds in the capital market; not just to custodian banks. She said the implementation will be reinforced over the next two years.
The twenty custodian banks that initiated the RTGS use are Bank Bukopin, Bank Artha Graha, BCA, CIMB Niaga, CitiBank, Danamon, DBS, Deutche Group, HSBC, BII Maybank, Bank Mandiri, Bank Mega, BNI, Bank Panin, BJB, Bank Permata, BRI, Standard Chartered, UOB, and Bank Woori Saudara.
OJK deputy for capital market supervision Noor Rachman said the use of RTGS will make things more efficient, minimize risks and increase investors' trust, thereby stimulating economic growth.