Jakarta: Bank Indonesia has officially granted business licenses to Indonesia Commodity & Derivatives Exchange (ICDX) and Indonesia Clearing House. Through a letter issued by Bank Indonesia number 28/81/DPPK/Srt/B dated January 26, 2026, Bank Indonesia granted a business license to Indonesia Commodity & Derivatives Exchange (ICDX) as the organizer of the Money Market and Foreign Exchange (PUVA) Derivatives Exchange.

Meanwhile, the business license for Indonesia Clearing House (ICH) as the PUVA Derivatives Clearing and Guarantee Institution was conveyed by Bank Indonesia through letter number 28/80/DPPK/Srt/B dated January 26, 2026. With this designation, ICDX becomes the first PUVA Derivatives Exchange and ICH as the first PUVA Derivatives Clearing and Guarantee Institution in Indonesia to receive a business license from Bank Indonesia.

Strategic Vision for PUVA Derivatives Development

Nursalam, ICDX Director, stated in an official statement to the media, “With this designation from Bank Indonesia to ICDX, this certainly becomes the starting point for ICDX’s development and contribution to support a modern, advanced, and internationally standardized money market and foreign exchange as proclaimed by Bank Indonesia. We are also committed to fully supporting Bank Indonesia’s efforts in developing PUVA Derivatives as outlined in the Money Market Development Blueprint (BPPU) 2030.”

Nursalam added, “In line with this license designation, Bank Indonesia certainly wants to prepare the governance of the PUVA derivatives industry towards international standards. The Exchange Organizer and PUVA Clearing Institution Organizer must have competence and capability, cyber resilience, and efficient and transparent operations. For this reason, ICDX is ready to focus on operational development both in terms of market integrity, customer protection, and technology in supporting transaction efficiency.”

Five Strategic Pillars for PUVA Derivatives

“We will implement several strategic steps in supporting the development of PUVA Derivatives. First, from the product side, ICDX will continue to synergize on products outlined in the Regulations of the Board of Governors of Bank Indonesia, with contract variations up to micro sizes. Second, from the pricing side, by presenting an efficient and credible price basis, referring to a credible market mechanism. Third, from the participant side, ICDX will collaborate with all stakeholders to jointly develop PUVA derivatives trading. Fourth, from the infrastructure side, ICDX has started by adopting the best technology to support safe, transparent, and efficient trading. And fifth, from the consumer protection side through effective complaint handling and increasing consumer empowerment through education and literacy programs,” explained Nursalam.

ICH’s Commitment to Safe and Efficient Infrastructure

Meanwhile, Yugieandy Tirta Saputra, Director of Indonesia Clearing House (ICH), stated, “This license grant is certainly a great trust and mandate from Bank Indonesia to ICH. For this reason, ICH, which has had extensive experience as a clearing, guarantee, and transaction settlement institution in the commodity futures trading industry, will implement various strategic steps to support Bank Indonesia’s vision in developing PUVA derivatives.”

Yugieandy Tirta Saputra added, “For this reason, ICH is committed to becoming a PUVA derivatives organizer infrastructure that prioritizes security, transparency, and efficiency in transaction settlement, supported by comprehensive risk management that can follow market dynamics while serving as a risk mitigation tool. This is in line with Bank Indonesia’s vision for PUVA Derivatives development.”

BPPU 2030 Framework

According to the BPPU 2030 framework, PUVA Derivatives development is focused on developing varied and liquid products, supported by efficient and credible pricing policies, active and competent participants, and infrastructure that is 3I (Interconnection, interoperability, integration) and internationally standardized, as well as supported by synergy and coordination.