Jakarta, March 12, 2025 - Indonesia Commodity & Derivatives Exchange (ICDX) and Indonesia Clearing House (ICH) have provided a response regarding the transition of regulation and supervision of Financial Derivatives from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) and Bank Indonesia (BI).

Fajar Wibhiyadi, President Director of ICDX said, "Regarding financial derivative product trading, as an exchange that serves as a trading venue, we will certainly implement all provisions determined by the authorities, in this case OJK and Bank Indonesia. Meanwhile, for commodity-based derivative products, trading activities at ICDX continue to run as usual, and we remain under the supervision of the Commodity Futures Trading Regulatory Agency (Bappebti)."

"For the transition process, we are currently in the process of fulfilling several requirements in accordance with OJK provisions for financial derivatives in the capital market, and with Bank Indonesia for financial derivatives with underlyings that include instruments in the Money Market and Foreign Exchange Market (PUVA). We also continue to coordinate and socialize with exchange members regarding provisions from OJK and BI, particularly regarding reporting mechanisms and licensing," explained Fajar Wibhiyadi.

Meanwhile, Megain Widjaja, President Director of Indonesia Clearing House said, "We see that the transfer of financial derivatives regulation from Bappebti to OJK and Bank Indonesia is an extraordinary breakthrough in the commodity futures trading industry. This is because for the first time, we as a self-regulatory organization (SRO) have three regulators, namely Bappebti, OJK, and Bank Indonesia. For the transition process, we are currently in a transition phase, which so far looks very good. This is supported by the implementation of Government Regulation signing, the existence of Financial Services Authority Regulations (POJK), and the drafting of Bank Indonesia Regulations (PBI)."

Regarding financial derivative products, from the total transactions at ICDX and cleared at ICH in 2024 amounting to 5,457,267.45 lots, derivatives with stock underlyings recorded 519,063.54 lots of transactions, equivalent to 10% of total transactions. Meanwhile, derivative products with money market underlyings recorded 1,529,506.88 lots of transactions, equivalent to 28% of total transactions. As for products with commodity underlyings, transactions amounted to 3,408,697.03 lots, equivalent to 62% of total transactions.

This transfer of duties from Bappebti to OJK and Bank Indonesia regarding financial derivatives is in accordance with the mandate in Article 8 number 4 and Article 312 paragraph (1) of Law Number 4 of 2023 concerning Financial Sector Development and Strengthening (UU P2SK). In this regulation, regulatory and supervisory duties transferred from Bappebti to OJK include Digital Financial Assets (AKD) including crypto assets and financial derivatives in the capital market. Meanwhile, the transfer to Bank Indonesia includes financial derivatives with underlyings that include instruments in the Money Market and Foreign Exchange Market (PUVA).