ICH ensures compliance with global clearing house standards
Jakarta (ANTARA) - The Director of the Indonesia Clearing House (ICH), Yugieandy Tirta Saputra, has ensured that the institution has met all global-standard clearing house requirements.
“As a clearing house, ICH’s operational activities have met all global standards, allowing all supervisory functions to operate effectively and maximising customer protection functions. This is also evidenced by the ISO 27001 certification for Information Security Management Systems (ISMS) held by ICH,” Yugieandy stated in an official briefing in Jakarta on Monday.
ICH is currently overseen by three regulators: the Commodity Futures Trading Regulatory Agency (Bappebti), Bank Indonesia (BI), and the Financial Services Authority (OJK). Bappebti serves as the supervisor for physical commodity trading and commodity-based derivatives; BI oversees Money Market and Foreign Exchange (PUVA) derivatives; and OJK regulates securities-based derivatives.
ICH stated that one of its specialised functions in commodity futures and derivatives trading is to maintain market transparency and integrity by ensuring all transactions are accurately recorded and free from price manipulation or harmful actions. This function is carried out to maintain public trust in the market.
Currently, the institution serves as the clearing house for transactions occurring on the Indonesia Commodity & Derivatives Exchange (ICDX).
In its operations, Yugieandy added, ICH provides a platform known as Clearing Info of Trade (e-CITRA), which the public can use to track their transactions being processed by ICH. Through this platform, users can view transaction data up to 90 days prior.
“The existence of this platform also makes it easier for customers to validate the accuracy of the transactions they report,” he said.
Yoyok Prasetyo, Dean of the Faculty of Economics and Business at Universitas Islam Nusantara Bandung, noted that the presence of a clearing house within the commodity futures and derivatives trading ecosystem plays a vital role, particularly regarding public protection.
As an institution responsible for transaction guarantees and settlements, Yoyok stated that ICH is tasked with ensuring that transactions within the commodity and derivatives ecosystem comply with existing regulations.
“In the investment world, the aspect of public protection—specifically for customers or investors—is a primary pillar. Protecting the public builds trust, which ultimately supports the growth of the investment landscape in Indonesia,” he said.
“This also presents a challenge for clearing houses to continuously maintain integrity and transparency, not only for public protection but also on a broader scale to support investment growth in Indonesia,” Yoyok added.