Jakarta. Bank Indonesia has officially granted business licenses to the Indonesia Commodity & Derivatives Exchange (IDCX) and the Indonesia Clearing House (ICH).

According to the letter issued by Bank Indonesia on 28/81/DPPK/Srt/B dated Jan. 26, 2026, Bank Indonesia granted the permit to the ICDX as the operator of the exchange for money market and foreign exchange derivatives (locally known as PUVA). Bank Indonesia also named ICH as the clearing house for the PUVA derivatives and guarantee institution.

"With this designation from Bank Indonesia for ICDX, it certainly marks the starting point for ICDX's development and contribution to supporting a modern, advanced, and internationally standardized money and foreign exchange market, as envisioned by Bank Indonesia. We are also committed to fully supporting Bank Indonesia's efforts in developing PUVA Derivatives, as outlined in the 2030 Money Market Development Blueprint (BPPU)," ICDX Director Nursalam was quoted as saying in a statement.

"In line with this permit, Bank Indonesia certainly wants to prepare the governance of the PUVA derivatives industry to meet international standards."

Exchange operators and PUVA clearing house operators are required to have competence and capability, cyber resilience, and efficient and transparent operations.

"ICDX is ready to focus on operational development, both in terms of market integrity, customer protection, and technology to support transaction efficiency." We will implement several strategic steps to support the development of PUVA Derivatives," Nursalam said.

ICDX will continue to synergize the products outlined in the Bank Indonesia Board of Governors Regulation, with contract variations ranging from micro-sized contracts. In terms of pricing, by providing an efficient and credible price base, referring to credible market mechanisms. In terms of participants, ICDX will collaborate with all stakeholders to jointly develop PUVA derivatives trading. In terms of infrastructure, ICDX has begun adopting the best technology to support safe, transparent, and efficient trading.

"And fifth, in terms of consumer protection, we will address effective complaints handling and increase consumer empowerment through education and literacy programs," Nursalam said.

ICH Director Yugieandy Tirta Saputra said that the clearing house, which had extensive experience as a clearing, guarantee, and transaction settlement institution in the commodity futures trading industry, would implement various strategic steps to support Bank Indonesia's vision of developing PUVA derivatives.

"Therefore, ICH is committed to becoming a PUVA derivatives infrastructure provider that prioritizes security, transparency, and efficiency in transaction settlement, supported by comprehensive risk management that can adapt to market dynamics and serve as a means of risk mitigation. This aligns with Bank Indonesia's vision for PUVA Derivatives development," Yugieandy said.

According to the BPPU 2030 framework, PUVA Derivatives development focuses on developing varied and liquid products, supported by efficient and credible pricing policies, active and competent participants, and infrastructure that adheres to the 3I (Interconnection, Interoperability, Integration) standards, internationally, and supported by synergy and coordination.

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