VERMEG 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 utilizing VERMEG’s 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, said in a statement: “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 in a statement that the partnership will extend VERMEG’s best practice CCP solutions to the Indonesian financial market and allow clearing members the opportunity to benefit from the latest in cloud-ready digital technologies.