Money market information center introduced

Money market information center introduced

JAKARTA (JP): Bank Indonesia is introducing a new money market
information center providing financial data to all commercial
banks and money brokers in the country through a computerized
system.

"The center, which is integrated into the computers of its
subscribers, is designed to give 24-hour on-line services," the
chief of the central bank's money market division, Dahlan
Sutalaksana, said here yesterday.

He was speaking at a signing ceremony to mark the transfer of
the services from PT Aplikanusa Lintasarta, a data communication
and application network service company which engineers the
center's system, to the central bank, the operator of the network
services. Yesterday's agreement on the transfer was signed by
Dahlan and Taufik Akbar, president of Aplikanusa Lintasarta.

Dahlan said that the center will provide financial details of
banking activities, including the Jakarta Interbank Offered Rates
(JIBOR) for rupiah and foreign currencies; domestic and overseas
interbank transactions of rupiah and foreign currencies;
conversion rates issued by the central bank and foreign exchange
banks; base lending rates, both in rupiah and foreign currencies;
interest rates on deposits and commercial papers, as well as
reports on the auction of Bank Indonesia Certificates (SBI) and
money market securities (SBPU).

"The center also carries reports on the developments in
interest rates on SBI, SBPU, deposit certificates and commercial
papers traded in the money market, as well as banks' clearance
activities," he said.

He said all the processed data will be available for all
subscribers.

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"The center also provides a special link with the banks
carrying confidential reports on clearance results and financial
statements as well as their financial positions," he said.

"But all the confidential reports are available only for the
central bank, not for subscribers.

"With the new computerized system, the central bank will be
able to rapidly know about the performance of every bank
operating in the country," he said.

It is expected the system will help the central bank improve
its supervision of commercial banks.

Dahlan was optimistic that the integrated information center
also will accelerate activities on the money market which has
thus far used telephones for its daily contacts or messengers for
carrying documents.

"The system, I guarantee, is quite efficient for subscribers
because they do not have to wait until tomorrow for getting
today's latest information on the money market' activities," he
said.

Taufik Akbar said that 185 banks have subscribed the service
of the center.

"Aplikanusa Lintasarta actually run for trial operation of the
system in 1992 with 20 banks. In October last year, our network
covered 122 banks, and in March this year it covered 185 banks,"
he said.

He said a subscriber pays around Rp 2 million per month for
the network. "The payment includes Rp 1.17 million for
telecommunications service and Rp 858,804 for the hiring of
hardware," he said.

Taufik said the central bank spent Rp 4 billion for the
procurement of software, he added.

Both Dahlan and Taufik said that the information could be made
available not only for money brokers, but also for any
institutions in the country which need to use the data, except
confidential data which belongs to the banks. (fhp)