The European Securities and Markets Authority (ESMA) has recognized PT Kliring Penjaminan Efek Indonesia (IDClear) as a Third-Country CCP (Third-Country Central Counterparty) for the business line of Clearing and Guarantee Institution (LKP) in the capital market. This recognition is valid from December 31, 2023. 

Some of the benefits of this recognition from ESMA include:

• Reduced capital charge
• Better risk management and more efficient margin management, reducing default risk and improving financial stability
• Strengthening KPEI's position in the global market
• Legal certainty in transaction settlement
• Enhance the credibility of Indonesia's financial market
• Enhance KPEI's status and visibility in the international arena
• Introducing KPEI and Indonesia's capital market to the global community
• Attract foreign financial institutions and investors to invest in Indonesian markets

IDClear is one of the Self-Regulatory Organization (SRO) together with PT Bursa Efek Indonesia (BEI) and PT Kustodian Sentral Efek Indonesia (KSEI). IDClear carries out clearing and guarantee functions in the settlement of stock exchange transactions in the capital market. 

The ESMA recognition is stated in article 25 of the European Market Infrastructure Regulation (EMIR), as outlined in the ESMA Board of Supervisors decision letter of October 19, 2023, and will take effect on December 31, 2023.

With the ESMA recognition, IDClear can provide clearing services to clearing members and trading venues established in the European Union.