The FX Awards aim to promote transparency and liquidity in the Indonesian foreign exchange market and to recognize its importance to the broader Indonesian economy. Award winners were determined based on trading activity on Refinitiv’s FX trading platforms.
In July 2021, Refinitiv launched its leading global electronic trading Matching service in Indonesia, which represents Indonesia’s first interbank electronic marketplace for the trading of Rupiah. Refinitiv Matching offers users in Indonesia access to deeper liquidity pools, increases market participation, enhances price discovery and helps regulators maintain a fair and transparent marketplace.
Foreign exchange remains one of the world’s most actively traded asset classes. The average daily volume (ADV) of foreign exchange trading across Refinitiv’s FX platforms globally totaled $491 billion in January 2022, with the average daily volume for spot trading at $97 billion.
“Bank Indonesia appreciates Refinitiv as the first provider for the Multi-matching System in our domestic market. We welcome any external providers in supporting the domestic market as long as they are committed to build Indonesia’s money market and as long as it complies with Bank Indonesia regulation. I also give my highest appreciation to all the banks participating in the new platform and I hope transactions through ETP Multi-matching will continue to increase in the future. As we move forward, efforts to develop FMI will continue to be taken. Yet, Bank Indonesia realizes that we can’t do it alone, we have to work together to achieve a desired state of a modern and advanced money market,” said Destry Damayanti, Senior Deputy Governor from Bank of Indonesia.
“This marks our inaugural FX Awards in Indonesia, and we are heartened by the strong support from the local trading community. We would like to extend a big congratulations to all the winners. Refinitiv has had a presence in Indonesia since 1984, and as one of the world’s largest providers of financial markets data and infrastructure, we are committed to supporting an efficient, transparent and resilient financial marketplace in Indonesia,” said Nigel Fuller, Sales Director, FX Trading, Asia at Refinitiv.
The 2022 Indonesia FX Award Winners are as follows:
- Best Market Maker: PT Bank Rakyat Indonesia (Persero) Tbk
- Most Active Bank: PT Bank Rakyat Indonesia (Persero) Tbk
- Most Volume Traded: Deutsche Bank AG (Jakarta Branch)
- First Trade on Matching: PT Bank Rakyat Indonesia (Persero) Tbk and PT Bank Mega Tbk
- First Mover: PT Bank Maybank Indonesia Tbk
- Most Active FXall Bank (Taker): PT Bank Danamon Indonesia Tbk
- Most Active FXall Bank (Maker): PT Bank Rakyat Indonesia (Persero) Tbk
- Most Active Corporate: PT Pertamina (Persero)
- Best BPD Bank: PT. Bank Pembangunan Daerah Jawa Barat & Banten, Tbk
- Rising Star BPD Bank: PT Bank Pembangunan Daerah Jawa Tengah
For further information on Refinitiv’s FX solutions, visit here.
About Refinitiv, an LSEG business
Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With more than 40,000 customers and 400,000 end users in approximately 190 countries, Refinitiv is powering participants across the global financial marketplace. Refinitiv provides information, insights, and technology that enable customers to execute critical investing, trading and risk decisions with confidence. By combining a unique open platform with best-in-class data and expertise, Refinitiv connects people with choice and opportunity – driving performance, innovation and growth for its customers and partners. www.lseg.com
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