Stepping into the Global Arena: CCP Required to Align with International Standards Set by BIS and IOSCO

In 2020, the Bank Indonesia (“ BI ”) Board of Governors introduced Regulation No. 22/14/PADG/2020 on Procedures for Licensing and the Organization of Central Counterparties (“ CCP ”) for Over-the-Counter Derivative Transactions on Interest Rates and Exchange Rates (“ Regulation 14/2020 ”). As its title suggests, Regulation 14/2020 outlines a wide range of aspects that specifically relate to overall governance and licensing in terms of the organization of CCP (i.e. institutions that serve as intermediaries between transacting parties and which subsequently act as sellers for buyers and vice-versa). [1]