Indonesian depository goes live on Nasdaq CSD tech

Source: Nasdaq

KSEI (PT Kustodian Sentral Efek Indonesia), the central securities depository (CSD) of Indonesia, has successfully gone live with a new CSD solution by market technology provider Nasdaq (Nasdaq: NDAQ).

The new and state-of-the-art CSD platform from Nasdaq provides KSEI with increased capacity and speed, with the new system operating at 40 times faster than KSEI’s previous system, while managing up to 80,000 settlement instructions per minute.

“The exceptional partnership that evolved between KSEI and Nasdaq resulted in a robust and dynamic solution that enables us to process larger volumes of transactions with speed and agility,” said Uriep Budhi Prasetyo, the President Director at KSEI. “The functionally rich performance of our new solution from Nasdaq supports the expansion of Indonesia’s capital markets and the growing number of investors in the region. The significantly more robust system will drastically boost our productivity and will strengthen our region’s market infrastructure for years to come.”

Nasdaq’s CSD technology offering is a multi-asset, multi-currency post-trade solution for settlement, depository, corporate actions and asset servicing to support the full service scope for CSDs globally. For KSEI, the launch of Nasdaq CSD also supports the company’s move to a Delivery-versus-Payment (DvP) settlement model with Central Bank Money - a transition that contributes to upgraded standards and performance for KSEI and the Indonesian market.

“This go-live of Nasdaq CSD with KSEI marks an important milestone in our partnership,” said Robert Frojd, Managing Director, South Asia, Southeast Asia & Pacific, Nasdaq. “By upgrading its CSD technology, KSEI has gained scalability and capacity through a stable technology core product that will bolster its position in the region as the market continues to grow. We are excited to continue to partner with KSEI as they evolve the market infrastructure of their region.”

Nasdaq’s market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.

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