Jakarta. The Indonesia Commodity & Derivatives Exchange (ICDX) disclosed a total transaction volume of 29,148.43 lots on the first trading day of 2024, surpassing the daily average of 23,719.37 lots recorded in 2023. 

"The data indicates that the daily transaction average for 2023 also experienced growth compared to the 2022 average of 19,590.51 lots," ICDX CEO Nursalam said on Thursday.

According to Nursalam, the transaction volume on Jan.2, 2024, sets a positive tone for the commodity futures trading industry. He said that this year, the market is facing an intriguing challenge coinciding with the presidential and legislative elections in February.

"However, we are optimistic that transactions in 2024 will exhibit positive growth compared to 2023. Our projection for total transactions in 2024 anticipates a 25 percent increase over 2023, in line with Bank Indonesia's forecasts for economic growth to be better than this year, ranging from 4.5 percent to 5.3 percent," Nursalam added.

Throughout 2023, the total transactions on ICDX amounted to 6,238,194.78 lots, representing a 22 percent growth compared to the total transactions in 2022, which reached 5,113,122.89 lots. Multilateral transactions in 2023 recorded 1,596,081 lots, marking a substantial growth of 64.45 percent compared to 2022's 970,550 lots.

Meanwhile, alternative trading system transactions in 2023 reached 4,642,113 lots, demonstrating a growth of 12.06 percent compared to 2022's 4,142,573 lots. Gold contracts dominated multilateral transactions on ICDX in 2023 at 53.02 percent, with foreign currency contracts making up 42.80 percent. In the alternative trading system, gold contracts held the majority at 57.99 percent, with forex contracts comprising 26.78 percent.

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