IDClear

What IDClear does

IDClear is the mandated Central Counterparty (CCP) for the Indonesian capital market, operating under the legal entity PT Kliring Penjaminan Efek Indonesia (KPEI). The institution provides guaranteed clearing and settlement services for exchange transactions including derivatives, equities, and securities borrowing and lending, serving registered Clearing Members (Anggota Kliring) and indirectly the retail and institutional end-customers trading through those members. IDClear is headquartered within the Indonesia Stock Exchange building in Jakarta and is the sole licensed Lembaga Penyelenggara Aktivitas Kliring, making membership in KPEI a regulatory prerequisite for derivative and equity clearing activity in Indonesia.

The company's technology core consists of the E-Clears system and the SKD (Sistem Kliring dan Penyelesaian Derivatif) for derivative clearing, supported by the RAZOR risk management system that calculates trading limits pushed to the BEI/JATS Next-G exchange trading system. Risk management is delivered through SPAN-based margining, Monte Carlo Simulation stress testing at 10 million iterations with 99.9% confidence, and HSVaR-based back-testing. The product suite includes index futures (KBIE: IDX LQ45, IDX30), government bond futures (KBSUN: BM05, BM10), basket bond futures (KBSSUN), single stock futures (KBS), and foreign index futures (KBIA MSLCHK on MSCI Hong Kong Listed Large Cap). Operational data flows are tightly integrated with KSEI for securities account and collateral data, and PHEI for government bond pricing.

IDClear generates revenue primarily through transaction-based clearing and guarantee fees structured in tiers (Rp 1,800, Rp 3,000, and Rp 6,000 per contract depending on contract multiplier) under a published rate schedule effective January 2, 2025 through December 31, 2025, with exemptions for Liquidity Providers and zero-fee treatment for low-multiplier domestic stock contracts. A second revenue stream comes from securities borrowing and lending (Pinjam Meminjam Efek) with an 18% p.a. regular loan fee rate and front-end rates of 5%–20%. Ancillary services include daily settlement price (HPH/HPF) calculation, collateral and guarantee fund administration, statistical publications, and a Whistleblowing System (WBS). The go-to-market is institutional and regulation-mandated rather than sales-driven; customer acquisition is a function of clearing member licensing requirements, not active sales outreach.

Name

IDClear

Legal name

PT Kliring Penjaminan Efek Indonesia (KPEI)

Website

https://idclear.co.id

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

IDClear (PT Kliring Penjaminan Efek Indonesia, or KPEI) is the mandated sole central counterparty for the Indonesian capital market, providing clearing, settlement, risk management, and securities borrowing and lending services to licensed Clearing Members.

Ownership category

akta.pro rank

Product category

Central Counterparty Clearing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Commodity Contracts Intermediation (52316), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Securities and Commodity Exchanges (523210)

SIC

Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Listed Derivatives CCPs (Futures & Options) (FSAFAFAA)

akta.pro secondary industries

Clearing Houses / Central Counterparties (CCPs) (FSACAHAC), Commodities / Energy Clearing CCPs (FSAFAFAF)

Keywords

• Central counterparty clearing
• Derivative clearing services
• Securities settlement infrastructure
• Capital market clearing
• Trade guarantee services

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others

Revenue model

1. Clearing and Settlement Service Fees: IDClear charges clearing and guarantee fees per futures contract transacted, with tiered rates based on contract multiplier value. Fees are charged to Clearing Members (Anggota Kliring) as a percentage of transaction value through a per-contract fee structure. The effective year for current fee rates is January 2, 2025 through December 31, 2025.
2. Securities Borrowing and Lending (Pinjam Meminjam Efek): IDClear facilitates securities borrowing and lending transactions, providing indicative lendable stock pools and daily statistics on stock lending volumes, values, and loan fee rates. The regular loan fee rate is 18% p.a. with front-end rates ranging from 5%-20%.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

IDClear operates as the mandated central counterparty (CCP) for the Indonesian capital market, providing clearing, settlement, and guarantee services for exchange transactions including derivatives, equities, and securities borrowing and lending. The company offers derivative contract clearing (futures, government bond futures, basket bond futures, single stock futures, and foreign index futures) with netting mechanisms, margin calculation via SPAN, daily settlement price (HPH) and final settlement price (HPF) determination, and risk management services including stress testing and back testing for clearing members (broker-dealers) registered as Anggota Kliring.

Product overview

IDClear (KPEI - PT Kliring Penjaminan Efek Indonesia) operates as a Central Counterparty (CCP) institution providing clearing and guarantee services for the Indonesian capital market. The company offers a comprehensive suite of derivative products including KBIE (Index Futures), KBSUN (Government Bond Futures), KBSSUN (Basket Bond Futures), KBS (Single Stock Futures), and KBIA (Foreign Index Futures). Core services encompass transaction clearing with netting mechanisms, settlement processing, margin management via SPAN, risk management tools (Stress Test, Back Test, Transaction Limits), securities borrowing and lending, collateral management, and guarantee fund administration. The institution also provides a Whistleblowing System (WBS) for governance compliance. All services are delivered through web-based systems accessible to Clearing Members.

Differentiator

Problem solved

Functional benefit

Products and services

• Kliring Transaksi Kontrak Berjangka (Futures Contract Clearing)

Quantifiable outcome

• Futures contract netting reduces open position obligations by offsetting long and short positions per clearing member and customer
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered core.

• KSEI (PT Kustodian Sentral Efek Indonesia)coreTechnology or IntegrationKSEI is the Indonesian Central Securities Depository that integrates with IDClear's E-Clears system. KSEI sends data to IDClear regarding available funds in guarantee accounts (Rekening Dana Pengaman), Main Guarantee Securities accounts (REU), and Sub-Guarantee Securities accounts (SRE) for derivative contract settlement.
• BEI (PT Bursa Efek Indonesia)coreTechnology or IntegrationThe Indonesia Stock Exchange sends matched trade data (orders that have matched) from its JATS Next-G trading system to IDClear's SKD (Sistem Kliring dan Penyelesaian Derivatif) system for derivative clearing processing. Clearing result limits are also sent back to BEI's trading system.
• PHEI (PT Penilai Harga Efek Indonesia)coreTechnology or IntegrationPHEI provides fair value pricing for government bonds (SUN) underlying, which is used by IDClear for calculating Daily Settlement Prices (HPH) and Final Settlement Prices (HPF) for government bond futures contracts.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• ASX Clear and ASX ClearFutures: CCP subsidiaries of ASX Group providing clearing for Australian cash equities and derivatives. Functionally identical mandate to IDClear: mandated sole CCP serving a national exchange.
• Clearing Corporation of India (CCIL): Central counterparty for Indian securities, derivatives, and government bond clearing. Highly comparable to IDClear in clearing government bond and money-market products in an emerging Asian market.
• Singapore Exchange Derivatives Clearing (SGX-DC): Clearing arm of SGX providing CCP services for Asian derivatives. Comparable regional CCP with similar mandate to clear exchange-traded derivatives across multiple underlyings.
• Japan Securities Clearing Corporation (JSCC): Subsidiary of JPX that operates as Japan's CCP for listed equities, derivatives, and OTC transactions. Closest functional analog to IDClear in terms of mandated CCP role over a national exchange complex.
• Bursa Malaysia Derivatives Clearing: Malaysian derivatives clearing house operated by Bursa Malaysia. Closest emerging-market regional peer to IDClear given similar Southeast Asian market structure and product mix (index futures, single-stock futures, bond futures).

Broad incumbents

• Korea Exchange (KRX) Clearing: Vertical integrated exchange and clearing house in Korea. Comparable in providing CCP services for Korean equities and derivatives, though KRX is publicly listed and combines exchange and clearing.
• DTCC (Depository Trust & Clearing Corporation): US-based market infrastructure providing clearing, settlement, and custody for the world's largest securities markets. Comparable business model (mandated CCP/clearinghouse) but at vastly larger scale and with multiple service lines.
• Hong Kong Exchanges and Clearing (HKEX) Clearing: Operates Hong Kong's central clearing houses for equities and derivatives. Comparable in scope and regulatory mandate, but operates within a more developed and internationally linked market than Indonesia.
• LCH (LCH Group, part of London Stock Exchange Group): Global multi-asset CCP clearing listed derivatives, OTC swaps, repos, and securities. Relevant comparable for IDClear's clearing infrastructure technology and risk-management approach (e.g., SPAN-style margining) even though LCH operates internationally.

Regional players

• Thailand Securities Depository (TSD): Provides clearing and depository services for the Thai capital market. Functionally similar mandate within a comparable-sized Southeast Asian economy, though TSD's primary role is depository rather than derivatives clearing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/Ask_IdClear
• YouTubeyoutube.com/channel/UCu0pNr2_kAQuszChz4ZmhxQ
• Facebookfacebook.com/kliringpenjaminanefekindonesia
• LinkedInlinkedin.com/company/kliring-penjaminan-efek-indonesia
• Instagraminstagram.com/id_clear
• TikToktiktok.com/@id_clear

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IDClear