Indonesia: Broker securities trade confirmation required for foreign exchange services in Indonesian Rupiah (IDR)
Clearstream Banking1 reminds customers that they are required to provide a broker securities trade confirmation together with their buy IDR foreign exchange (FX) instruction prior to the FX deadline of IDR.
For every buy IDR FX instruction, details of the underlying securities trade must be populated in the optional wording field of the FX instruction. The purchased IDR amount must not exceed, but can be less than, the settlement amount of the securities trade.
The value date of the securities and the FX transactions must be the same. The underlying securities settlement instruction must be received prior to the execution of the FX transaction.
Any failure to comply with the conditions above may lead to delays in the settlement of the FX request.
Impact on customers
Customers are requested to take note of this existing local market requirement and to send a broker securities trade confirmation together with the buy IDR FX instructions to Clearstream Banking to avoid FX processing delays.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.