- The Board of Directors of PT Kustodian Sentral Efek Indonesia ("KSEI") has issued Circular No. SE-0001/DIR-EKS/KSEI/0324 Tahun 2024 on the Reporting and Settlement Mechanism for Repurchase Agreement Transactions ("Repo"), which has been in force since 15 March 2024. The issuance of this new Circular has resulted in the repeal and replacement of Circular of the Board of Directors of PT KSEI No. SE-0003/DIR-EKS/KSEI/0420.
- KSEI has announced a new reporting mechanism for Repo transactions, which involves sellers delivering reports on said transactions. Meanwhile, buyers should confirm these reports through the ORCHiD system before delivering settlement instructions for Repo transactions through the use of C-BEST.
- The instructions for the reporting of Repo transactions through the ORCHiD system address various types of transactions, including Repo opening transactions, additions of securities or funds, reductions in securities or funds, replacements of securities, changes to maturity dates and the cancellation of Repo opening transactions. Participants must report all Repo transactions through the ORCHiD system, ensuring that all of the required details are filled out.
- Each reported Repo transaction will generate an external reference number that should be used for settlement processes in C-BEST. Settlements of Repo transactions through C-BEST involve the use of information that is reported through ORCHiD and settlement instructions that are created through the use of text or Excel files downloaded from ORCHiD.
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