The Indonesia Stock Exchange (IDX) has launched SPPA, a new Electronic Trading Platform (ETP) for secondary market trading of bond and sukuk.

Indonesia is one of the largest EM bond markets in the region, valued at around USD 220 BN equivalent. To date, 18 of the 20 Primary Dealers for Government Bonds (SUN) have become users of the platform, along with a further three Indonesian bond market trading firms which can start using the trading platform.

Hasan Fawzi, Business Development Director of IDX, said, "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. 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."

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…. It gives dealers the tools they need to boost their trading with automated workflows to help them trade better and faster than ever before…"