Financial market data and infrastructure provider Refinitiv, an LSEG business, has launched Matching, Indonesia’s first interbank electronic marketplace for the trading of rupiah, as the Southeast Asian nation focuses on further developing its financial market.

Matching offers real-time credit screening, enhanced price discovery, concentrated liquidity and efficient execution for foreign exchange (FX) traders, and has been adapted to local Indonesian market conditions.

“[The solution] is an important milestone in Bank Indonesia’s plan to build an advanced national money market in Indonesia,” says Alfred Lee, managing director, data and analytics, Asia-Pacific, LSEG.

“One of the key initiatives to embody the third vision of the Blueprint for Money Market Development 2025 is to strengthen financial market infrastructures,” says Destry Damayanti, senior deputy governor at Bank Indonesia. “The launching of the matching trading system is expected to foster market development by increasing liquidity, efficiency and price transparency.”