Jakarta. The Indonesia Commodity & Derivatives Exchange (ICDX) is celebrating its 16th anniversary.

As the exchange grows a year older, the ICDX reaffirms its commitment to developing synergy with the three main regulators in the derivatives trading market sector: the Financial Services Authority (OJK), Bank Indonesia (BI), and the Commodity Futures Trading Regulatory Agency (Bappebti). To this end, ICDX has picked the theme "Advanced Synergy, New Hope" for its anniversary.

"We believe that synergy can be the key to realizing strong, inclusive, and sustainable financial and commodity market deepening in order to support national economic growth," Fajar Wibhiyadi, the president director of ICDX, said in Jakarta.

Fajar reaffirmed the group's readiness to continue partnering wth various stakeholders.

"We are committed to continuous innovation to create an integrated ecosystem that is fundamental to deepening Indonesia's financial and commodity markets," he said.

Likewise, Megain Widjaja, the president director of the Indonesia Clearing House (ICH), underlined the importance of collaboration across regulators and market players.

"Therefore, the key words are capacity building, strategic collaboration, and synergy between all stakeholders," he said.

"The ICH is ready to partner with the authorities, namely BI, OJK, and the Bappebti. We hope that this synergy can expand the potential of financial markets, specifically money market derivatives, securities derivatives, and commodity derivatives," Megain said.

The ICH also remains upbeat that collaboration can pave the way for a more competitive derivative markets both at the national and the global scale.

According to the 2023 Law on Financial Sector Strengthening, the OJK is in charge of overseeing the securities derivatives. BI regulates the money market and foreign exchange derivatives, while Bappebti is in charge of the commodity derivatives.

Improving Derivatives Market Literacy Through Media Lecture

As part of its 16th anniversary campaign, ICDX also held a lecture dedicated to journalists in an effort to improve public literacy on the derivatives market. The lecture featured Bappebti's head, Tirta Karma Sanjaya, as well as OJK's head for financial supervision of derivatives and exchanges, Darwin.

According to ICDX director Nursalam, the press plays a key role in building the public understanding of the national derivatives market.

"The media is crucial to the development of financial markets in Indonesia, particularly in conveying positive information to the public. As a self-regulatory organization in the commodity futures trading ecosystem, we certainly have a role to play in keeping the public informed," he said.

The synergy across regulators is key for journalists to understand the industry's comprehensive landscape.

"The existence of three regulators -- OJK, BI, and Bank Indonesia, when it comes to the derivatives trading market, is something that needs to be well-communicated. This way, the journalists can fully understand this ecosystem," Nursalam said.

Podogiri Hatmoko, the head of corporate communication at ICDX ,also echoed similar sentiments.

"We see the media as playing a crucial role in providing positive information regarding commodity futures trading. We at ICDX recognize the media as a key stakeholder in our ecosystem. We hope that this media lecture will provide journalists with in-depth information regarding the derivatives market," Podogiri said.

Plans are also underway to hold similar lectures on other topics related to the commodity futures trading industry.

ICDX hopes that these efforts can strengthen the Indonesian derivatives market ecosystem, making it more inclusive, credible, and able to support sustainable national economic growth.

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