Jakarta. The Finance Ministry will not acquire shares in the Indonesia Stock Exchange (IDX) under a proposed demutualization plan, Finance Minister Suahasil Nazara said Tuesday, stressing that the ministry must remain a policymaker rather than become an owner of the country's stock market operator.

"The Finance Ministry will not become a shareholder in the IDX. Why? Because we are policymakers," Suahasil told a press conference of the Financial System Stability Committee (KSSK) at Bank Indonesia headquarters in Jakarta.

He said maintaining a clear distinction between the government's policymaking responsibilities and the exchange's commercial operations was essential to the planned restructuring.

"We are part of the government, while the IDX operates in the commercial sphere," Suahasil said.

The Finance Ministry's decision to stay out of the exchange's ownership structure does not mean the government is withdrawing its support for demutualization, he added.

Instead, the ministry will continue to support the reform through policymaking and coordination with relevant authorities, particularly the Financial Services Authority (OJK).

Demutualization involves transforming a stock exchange from an organization owned by its members into a corporate entity with a shareholding structure that allows ownership to be separated from exchange membership.

The proposed restructuring is part of broader efforts to strengthen governance, transparency, and professionalism in Indonesia's capital market.

Under the current structure, IDX ownership is tied to its member securities firms, which also participate in trading activities on the exchange.

Demutualization would create opportunities for a broader ownership structure while potentially reducing conflicts of interest between the exchange's commercial operations and the interests of its members.

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