Jakarta. The Indonesia Commodity & Derivatives Exchange (ICDX) has issued a response regarding three key points about the derivatives market raised by the Financial Services Authority (OJK).

Inarno Djajadi, Chief Executive of Capital Market, Derivatives Finance, and Carbon Exchange Supervision at OJK, mentioned during his speech at the recent ICDX Anniversary event that there are three crucial aspects to the derivatives market:

“First, the importance of maintaining integrity in governance across all levels of the derivatives and commodity markets. Second, continuously strengthening innovation while upholding the principles of prudence and investor protection. Third, building cross-sector synergy between market participants and regulators as a driving force to enhance competitiveness and market inclusion," he said. 

In response, ICDX President Director Fajar Wibhiyadi said that as a self-regulatory organization under the supervision of the OJK, ICDX is fully committed to implementing the OJK's directives.

"The three key points emphasized by the OJK -- integrity, innovation, and synergy -- align well with our spirit and commitment to the future development of the financial market," he said. 

Fajar further added that, in terms of governance integrity, strong governance is crucial in the development of financial markets, particularly derivatives.

"This is because financial markets are built on public trust, and governance integrity is a key factor. Therefore, ICDX ensures that every process in transactions is conducted transparently and in accordance with existing regulations," he said. 

ICDX will also continue to drive sustainable innovation, both in terms of products and services, not only to meet market needs but also with consideration for public protection. Going forward, ICDX will continue to build synergy and collaboration with all stakeholders, including regulators, market participants, and investors.

“ICDX is committed to undertaking various strategic initiatives -- such as financial literacy and education efforts -- for the sustainable development of the financial market, particularly derivatives,” said Fajar.

As a note, in line with the enactment of Law No. 4 of 2023 concerning the Strengthening and Development of the Financial Sector (PPSK Law), ICDX is now under the supervision of OJK for derivatives trading with securities-based underlying assets.