Amsterdam, Jakarta, 14 January 2025 — Vermeg, a global provider of mission-critical technology solutions for Market Infrastructures, Collateral Management, and Asset Servicing, today announced that IDClear, Indonesia’s Central Counterparty (CCP), has successfully activated the Bilateral Repo business line on the Megara platform. This milestone marks a significant expansion of Indonesia’s clearing landscape and underscores Vermeg’s role as a trusted partner for CCP transformation worldwide.
A Strategic Leap in Indonesia’s Post-Trade Modernization
The deployment of the Bilateral Repo capability marks a key step in IDClear’s strategic development program to strengthen the country’s financial market infrastructure and deepen liquidity in the money market.
By integrating Bilateral Repo processing into its Megara setup, IDClear is now able to:
· Enhance collateral efficiency and mobilization,
· Expand the range of CCP services provided to its members,
· Support broader money-market development, and
· Reinforce overall financial resilience.
This extension builds on the initial Megara deployment carried out by Vermeg in collaboration with Bank Indonesia, and eight major local banks. Today, Megara serves as a unified, scalable backbone for Indonesia’s post-trade ecosystem, enabling progressive service expansion across markets and asset classes.
Iding Pardi, President Director of IDClear, stated:
“The go-live of the Bilateral Repo business line on Megara marks a significant milestone in IDClear’s transformation. Building on the initial deployment of cross-asset collateral management, this extension allows us to offer a broader set of services to our members and strengthen liquidity in Indonesia’s money market. We are committed to advancing this successful collaboration with Vermeg to introduce additional innovative services for the Indonesian marketplace.”
Megara: A Future-Proof CCP Engine for Emerging and Mature Markets
Megara is architected to meet the needs of modern Market Infrastructures, combining robustness, high configurability, and regulatory alignment.
The platform offers:
· Cloud-native, API-first architecture
· Unified workflows for collateral management, settlement, custody, cash management, corporate actions, and position keeping
· Market-specific flexibility to reflect local practices
· Scalability for future service expansion and innovation
For Indonesia, Megara delivers a resilient and extensible foundation capable of supporting additional market segments and regulatory evolutions as the country’s financial system continues to mature.
Joseph Kubeyka, General Manager Asia Pacific & Middle East, Vermeg, commented: “IDClear’s adoption of Bilateral Repo services on Megara demonstrates their strong commitment to building a modern, efficient, and competitive clearing infrastructure. We are proud to support this transformation and look forward to the continued expansion of our partnership.”
Azza Lamine, Head of Professional Services & Support Asia Pacific, Vermeg, added: “This achievement reflects the deep collaboration between IDClear’s experts and Vermeg’s teams. Together we delivered a solution tailored to Indonesia’s unique market structure, while ensuring the flexibility needed for future growth. We remain committed to supporting IDClear as they expand their service offerings.”
Reinforcing Vermeg’s Global Market Infrastructure Leadership
This go-live strengthens Vermeg’s position as a global leader in CCP and post-trade technology. With Megara powering core operations across Asia, Europe, Latin America, and the Middle East, Vermeg continues to support Market Infrastructures in delivering scalable, resilient, and next-generation services.
As global financial markets evolve toward real-time settlement, liquidity optimization, and integrated post-trade architectures, Vermeg remains committed to empowering institutions like IDClear to shape the future of market infrastructure.
