History – Apuvindo

About Us

GET TO KNOW US MORE

Overview of Who We Are

APUVINDO at a Glance

APUVINDO (Asosiasi Pasar Uang dan Pasar Valuta Asing Indonesia) is a Self-Regulatory Organization (SRO) established in the legal form of an association. It was founded by active participants in Indonesia’s Money Market and Foreign Exchange Market—primarily banks—and is composed of diverse members including banks, brokerage firms, treasury-related professional associations, PUVA central counterparties, electronic trading platform (ETP) providers, and other entities as designated by Bank Indonesia.

APUVINDO was officially recognized as a legal entity through the Decree of the Ministry of Law and Human Rights (KEMENKUMHAM) No. AHU-0010992.AH.01.07.2023, dated December 14, 2023. It was designated as a Self-Regulatory Organization (SRO) by the Head of DPPK BI via letter No. 26/70/DPPK/Srt/B, dated March 5, 2024. Furthermore, membership in APUVINDO has been mandated under Bank Indonesia Regulation (PBI) No. 6 of 2024 on the Money Market and Foreign Exchange Market.

Background and Regulatory Foundation

The Rationale Behind APUVINDO’s Formation

The establishment of APUVINDO is driven by the need for a structured, professional, and independent institution that can represent and coordinate stakeholders within Indonesia’s money and foreign exchange markets. This initiative aligns with Bank Indonesia’s Regulation (PADG) No. 13 of 2023, which governs transaction implementation platforms and emphasizes the creation of efficient, transparent, and integrity-driven markets.

Supporting Market Structure

PADG No. 13/2023 highlights the importance of support institutions or associations in facilitating the execution of transactions in the money and FX markets. APUVINDO was created to serve this role as a non-commercial supporting organization, acting as a strategic partner for both market participants and regulators.

Self-Regulatory Function

To foster sound market conduct and governance, APUVINDO functions as a Self-Regulatory Organization, responsible for developing and enforcing codes of ethics, conduct guidelines, and professional standards. This role is a direct response to the regulatory framework set forth in PADG 13/2023, which calls for the strengthening of market discipline and accountability.

Strengthening Infrastructure & Market Practices

PADG 13/2023 also underlines the need for robust governance and healthy market practices to support transaction execution infrastructure. APUVINDO contributes to this by offering continuous training, certification programs, and facilitating open communication between members and regulatory authorities.

Promoting Integrity & Transparency

APUVINDO provides a trusted platform where market participants can work collectively to enhance price transparency, ensure fair dealing, and promote disciplined transaction behavior—supporting the broader regulatory objective of building a stable, credible market ecosystem.

Readiness for the Future

In light of digital transformation and the modernization of Indonesia’s money and foreign exchange infrastructure, APUVINDO plays a strategic role in aligning domestic market practices with international standards, in line with Bank Indonesia’s evolving policy direction as outlined in PADG No. 13/2023.

Our Vision

To become a trusted, independent, and industry-led organization that fosters the development of a resilient, credible, and globally competitive money and foreign exchange market in Indonesia.

Our Mission

Acting as a strategic partner to Bank Indonesia in supporting the implementation of PUVA-related policies, monetary operations, and secondary market pricing initiatives.

Serving as a self-regulatory organization (SRO) responsible for establishing, issuing, revising, and revoking technical and micro-level regulations in the PUVA sector and broader financial market infrastructure, including the Market Code of Conduct.

Defining competency standards in treasury and coordinating treasury certification efforts in collaboration with recognized professional associations.

Overseeing compliance and disciplinary enforcement related to APUVINDO’s established guidelines and ethical standards.

Managing commitment declarations to the Market Code of Conduct to uphold transparency and professionalism among members.

Organizing continuous education and training programs to elevate the competencies and quality of human resources in the PUVA sector.

Acting as a mediator for dispute resolution among APUVINDO members regarding technical and micro-level market matters.

Representing PUVA institutions at the national, regional, and international levels, amplifying the voice of Indonesia’s financial sector on global platforms.

Executing additional member-driven functions that align with the strategic policies of Bank Indonesia and support market integrity and advancement.

Our Purpose

Pioneering a Transparent and Trusted PUVA Landscape

To realize the sustainable development of Indonesia’s Money Market and Foreign Exchange Market (PUVA) in all aspects with an industry-led approach.

To enhance the role and credibility of PUVA participants in order to create a liquid, credible, and industry-led PUVA market.

Our Duties

Strategic Actions for a Stable and Progressive Market

Policy Implementation Support

To support the implementation of Bank Indonesia’s policies in the areas of Monetary Policy, Financial System Stability, and Payment Systems.

Strategic Partnership with Bank Indonesia

To act as a strategic partner of Bank Indonesia in implementing policies and initiatives within the Indonesian PUVA market.

Self-Regulatory Guidance

To serve as a Self-Regulatory Organization that establishes technical and micro-level regulations as a reference for PUVA participants in Indonesia.

Industry Voice & Aspirations Platform

To act as a forum for receiving aspirations and input related to the deepening of Indonesia’s PUVA market.

Capacity Building & Professional Development

To function as a platform for continuous competency enhancement and quality development for PUVA participants in Indonesia.

National and International Collaboration

To engage in cooperation with institutional and professional associations, both nationally and internationally, for the development of Indonesia’s PUVA market.