Document background
The Clearing Agreement serves as the foundational document governing the relationship between clearing houses and their members in Indonesia's financial markets. This document is essential when a financial institution seeks to become a clearing member or when a clearing house establishes its service terms. The agreement must comply with Indonesian regulatory requirements, particularly those set by OJK and Bank Indonesia, while incorporating international best practices in clearing operations. It details crucial aspects such as membership criteria, risk management protocols, default procedures, margin requirements, and settlement processes. The Clearing Agreement is particularly important given Indonesia's growing financial markets and the need for robust clearing infrastructure that meets both domestic and international standards.
