New Management of Indonesia Central Securities Depository - Photo by ICSD

JAKARTA (TheInsiderStories) – Indonesia Central Securities Depository (ICSD) appointed Uriep Budhi Prasetyo as a new president director of the self regulatory office, replacing Friderica Widyasari Dewi, whose term of office has ended.

Beside appointed Prasetyo, the meeting  which held on May 27, also appointed Syafruddin and Supranoto Prajogo as member of the director.

As the elected president director, he will be part of ICSD board of directors from 2019 until 2022, and will continue the strategic plan that developed in the previous year.

Prasetyo previously served as president director of Danareksa Capital. unit of state-owned financing arm Danareksa Group. He also served as a director of transaction and compliance supervision in Indonesia Stock Exchange in the period 2009 – 2015 and commissioner of ICSD for the period 2006-2009.

He has experienced working as managerial position at various divisions and companies, especially in Indonesian financial and capital market industry. He graduated as a Master of Business Administration in Management from College of Notre Dame, Belmont, California.

Beside, he grab Bachelor of Science in Mechanical Engineering from San Francisco State University, San Francisco, California. He also active in Indonesian Chamber and Commerce also other organization.

“In the near future, one of the strategic plans is the development of e-Proxy and e-Voting to facilitate investors in general meeting shareholders through electronic platform,” he said through an official statement, quoted on Tuesday (5/28).

This platform will provide easy communication between Issuers, ICSD, securities companies, custodian banks, and shareholders because it uses messaging standards on a single platform integrated.

Prasetyo explained, for other strategic plans including full central bank money, the payment bank which collaborates with ICSD, will use the infrastructure of Bank Indonesia (BI-RTGS) to support the settlement of securities transactions at ICSD.

Later, all fund settlements by custodian banks and securities companies, both government securities and non-government securities, will use BI-RTGS. It is done to meet the recommendations of the International Organization of Securities Commissions (IOSCO).

ICSD is also preparing a further development of C-BEST Next Generation (C-BEST Next-G) which was implemented on July 8, 2018 regarding the safekeeping and settlement of Securities transactions. The module related to corporate action in C-BEST Next-G will be implemented this year.

Then, ICSD is also preparing services that facilitate the know your customer (KYC) process, both for ICSD investors and service users.

By the services, investors will be able to  invest in various securities companies by only doing one KYC process. The development is still under review.

Written by Staff Editor, Email: theinsiderstories@gmail.com