IDX launches Electronic Trading Platform in partnership with AxeTrading

By Edil Corneille

Today, the Indonesia Stock Exchange (IDX) launched its Electronic Trading Platform (ETP) for the secondary market trading of bonds and sukuks using London-based AxeTrading’s AxeChange technology. The ETP is named – Alternative Market Operator System (SPPA).

AxeTrading is said to have been chosen by IDX as the on-going technology partner for the platform, through a strict selection process over other global prospective partners, for its 10+ years of experience in electronic trading and its expertise in the fixed income market.

“SPPA has been designed in such a way as to accommodate the needs of the bond and sukuk market players in Indonesia, with the hope of increasing liquidity and efficiency of the Indonesian bond and sukuk market,” said IDX Business Development Director Hasan Fawzi. “IDX is collaborating with global bond trading solution provider, AxeTrading, to develop SPPA so that the system we are developing is a system that is applicable according to best practices and is user-friendly,” he concluded.

Ralf Henke, Chief Executive Officer of AxeTrading said, “We are proud and delighted to be working with the Indonesia Stock Exchange as their technology partner to deliver this significant step in the development of the Indonesian bond and sukuk market using our AxeChange technology. Our AxeTrader Quoting and Execution Management System is the best gateway to this new trading platform. It gives dealers the tools they need to boost their trading with automated workflows to help them trade better and faster than ever before. AxeTrader gives seamless support for both voice trading and access to electronic trading in the Indonesia, Asian and global markets”.

Working with International Finance Corporation, part of the World Bank Group, as a strategic partner, AxeTrading provides advanced technology for dealers and trading venues in fixed income markets to broaden participation, which provides liquidity and market transparency.

The recently upgraded AxeTrader Quoting and Execution Management System (QEMS), interacts seamlessly across over 23 execution venues, including the new IDX ETP, and connects to 11 market data sources to provide fixed income dealers with market aggregation and trading workflows in a single desktop.