Participants who receive clearing facility for ORI transaction through the ETP are identified as Clearing Members of the Electronic Trading Platform (CM-ETP). CM-ETP has the right from KPEI to obtain ETP clearing service by using the facilities provided for CM-ETP’s purposes and to receive reports and information related to ETP clearing.
To become CM-ETP, prospective participants are required to: obtain approval as ETP Member issued by ETP Provider, i.e. Indonesia Stock Exchange (IDX); possess a system to support operations related to ETP clearing in accordance with conditions stipulated by KPEI; sign the ETP clearing service provision agreement; and fill out an application form available on KPEI Website.
In order to conduct delivery vs payment and receive vs payment through KSEI, CM-ETP are required to have a Depository Account (Account 001) while CM-ETP client must have a Sub Depository Account (Sub Account 001). In the event that CM-ETP does not have Depository Account and carries out settlements in KSEI, CM-ETP shall appoint at least 1 (one) Settlement Agent that is a Custodian Bank of KSEI account holders, and notify this to KPEI. One of the services used by Account Holders is the investor’s portfolios administration which is able to open a Sub Securities accounts in KSEI.
Delivery vs payment and receive vs payment of ETP clearing proceeds is carried out through the Central Bank Money (CEBM) account owned by CM-ETP on KSEI. If CM-ETP employs a Settlement Agent’s service, the account designated by the Settlement Agent has already been connected to Bank Indonesia account. Meanwhile, delivery vs payment and receive vs payment through Bank Indonesia is carried out directly under the existing conditions by CM-ETP or Sub-Registry appointed to conduct settlements on BI-RTGS (for money) and BI-SSSS (for securities).