OTC Bonds

The clearing process for debt and sukuk securities transactions is only carried out outside the stock exchange through the Alternative Market Organizer System (SPPA). The clearing method for this product is trade-for-trade (TFT) using the IDClear system called e-BOCS PPA which has been available and valid since 29 October 2021. This system produces information documents in the form of a Clearing Results Report (LHK) and a List of Clearing Results (DHK).

Settlement of transactions outside the Exchange is carried out using KSEI's system called the Central Depository and Book Entry Settlement System or C-BEST, and Bank Indonesia (BI) through the Bank Indonesia system - Scripless Securities Settlement System (BI-SSSS). EBUS Clearing Participants can carry out the clearing process by confirming and/or affirming by the Settlement Agent to receive settlement instructions and DHK. Straight-Through Processing (STP) settlement instructions will be sent from eBOCS PPA to C-BEST or BI-SSSS.

For Off-Exchange Debt Securities transactions, currently IDClear only provides clearing services without providing a guarantee function for the completion of these transactions. Clearing activities for EBUS transactions in SPPA are completed with varying settlement dates. Settlement is carried out based on the settlement date agreed by the Participants in the SPPA with the following settlement options:

• T+0 settlement, namely settlement carried out on the same date as the transaction date.
• T+1 to T+7 settlement, namely settlement carried out one day to seven days after the transaction date.