[PRNewswire] VERMEG and IDClear Join Forces

-- Bring CCP Collateral Management and Digital Solutions to The Indonesian Financial Market

JAKARTA, Indonesia Sept. 10, 2024 /PRNewswire=연합뉴스/ -- VERMEG, a global leader in Digital Collateral Management, Securities, Risk, Regulatory, and Settlement Solutions, today announced a strategic collaboration with IDClear, the clearing and guarantee central counterparty (CCP) for the Indonesian financial market, formalized by the signing of a memorandum of understanding.

IDClear, a client partner of VERMEG since 2021 utilising VERMEG's leading cross product collateral management solution, MEGARA, will be extending this collaboration to include VERMEG's Digital CCP platform which includes Collateral Optimization, Collateral Assessment (Eligibility, Valuation, Messaging), Customer Onboarding, Default Management, and other value-added cloud-ready applications.

VERMEG's Digital CCP platform, built on a cloud-native API-first architecture, assists market infrastructure and capital markets clients to optimize their assets; increase productivity; and enhance risk management capabilities, as well as to allow its client to offer value-added services to their members or customers.

Badreddine Ouali, Chief Executive Officer of VERMEG commented:

"We are delighted to expand our strategic collaboration with IDClear to include our Digital CCP Platform. By combining IDClear's Collateral Management expertise with our flexible Digital CCP solutions, we are empowering IDClear and its members to optimize their inventory and productivity, increasing profitability, as well as to help to reduce their credit, market, and systemic risk."

Iding Pardi, President Director of IDClear said:

"We are delighted to partner with VERMEG to extend their best practice CCP solutions to the Indonesian financial market. This allows our clearing members with the opportunity to benefit from the latest in cloud-ready digital technologies."

Links:

https://veggoplatform.com/market-infrastructure

https://veggoplatform.com/cib-asset-management

https://veggoplatform.com/platform

https://www.vermeg.com/megara/

VERMEG Press Contacts

Samia Oueslati

Email: samoueslati@vermeg.com

About VERMEG

VERMEG is a leading provider specialized in software and digital solutions for collateral management, regulatory and compliance, and insurance industries. As a leader in the collateral market, its technology targets key challenges driving operational efficiency, cost savings, optimization and risk mitigation. Encapsulating more than 25 years of experience in the financial sector, VERMEG has a deep understanding of the current challenges facing the industry. Through our digital solutions developed with low-code no-code technology, Veggo platform by VERMEG offers ready-to-use apps, perfectly tailored to our clients' needs. This guarantees for clients achieve increased efficiency, improved user experience and the ability to grow their business and reduce costs.

www.vermeg.com

Follow us on LinkedIn [https://www.linkedin.com/company/vermeg/ ] and YouTube [https://www.youtube.com/@vermeg5665 ]

About IDClear

IDClear was established in 1996 as a clearing and guarantee institution or CCP for the Indonesian capital market. IDClear's line of business is to organize clearing of securities exchange transaction and regulated over-the counter (OTC) transactions as well as securities exchange settlement guarantee. The development of industry and economy has enabled IDClear to expand its business activities by conducting other financial supporting services, with the approval of the Indonesia Financial Services Authority and in accordance with applicable laws and regulations. The year 2020 marked a milestone for IDClear as it expanded its role as a CCP for the OTC derivative market, as well as to support the Government's program towards the development of an integrated, efficient, and transparent financial market.

www.idclear.co.id/en

Follow us on Linkedin [https://www.linkedin.com/company/kliring-penjaminan-efek-indonesia?originalSubdomain=id ] and Youtube [https://www.youtube.com/@id_clear ]

Logo - https://mma.prnewswire.com/media/2499981/VERMEG_IDClear_Logo.jpg

VERMEG and IDClear Logos

Source: VERMEG

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