Jakarta. The Phillip Trading Symposium convened industry leaders, regulators, and investors in Jakarta on Monday to explore the future of Indonesia’s fast-evolving futures market. Held at the Shangri-La Hotel, the annual event provided a platform for sharing knowledge on derivatives and technology solutions.

This year’s theme, “Commodities, Capital, Connectivity: Indonesia’s Triple Advantage,” underscored the nation’s abundant resources, growing financial base, and strengthening networks as key drivers for futures market expansion. The symposium is part of Phillip Group’s long-standing initiative to foster collaboration across the derivatives ecosystem.

Phillip Futures has been active in Indonesia for 16 years, while its parent company, Phillip Nova, has operated for over five decades across multiple financial instruments. In Indonesia, Phillip Futures is a member of the Indonesia Commodity & Derivatives Exchange (ICDX) and the Indonesia Clearing House (ICH).

Gathering Industry Stakeholders
The event brought together traders, brokers, exchanges, regulators, and technology vendors under one roof, with speakers including Phillip Nova CEO Teyu Che Chern, UOB Group ASEAN Economist Enrico Tanuwidjaja, and senior representatives from CME Group, Jakarta Futures Exchange, Osaka Exchange, SGX, ICE Futures Singapore, and ICDX Group.

“Indonesia has tremendous potential in the futures industry,” said Fanti Apriliana Dwi, Director of Marketing & Sales Channel at Phillip Nova Pte Ltd. “With abundant commodities, expanding capital, and stronger connectivity, the country is poised to become a significant player in global futures trading.”

Fanti noted that futures trading has grown rapidly in Indonesia due to increasing participation from a wider range of investors, not just hedgers. “Futures instruments can help commodity businesses, from plantation owners to exporters, manage risk more effectively, ultimately driving business growth,” she added.

Regulatory Shifts
ICDX Group CEO Megain Widjaja said the symposium also aimed to address regulatory changes under the new Financial Sector Development and Strengthening Law (UUPPSK). For the first time, three regulators share responsibility for the derivatives market:

• Bank Indonesia for derivatives linked to money markets and foreign exchange,
• Financial Services Authority (OJK) for equity-based derivatives, and
• Commodity Futures Trading Regulatory Agency (Bappebti) for commodity-linked derivatives.

“This new framework opens opportunities for a wider range of participants, including banks and financial institutions that were previously absent, creating a more diverse and dynamic market,” Megain said.

He stressed that digitalization will be key to expanding participation. “Digital transformation is disrupting markets, but also creating opportunities to broaden access. ICDX is committed to developing platforms that align with the expectations of a new generation of investors, making the market more inclusive and competitive,” he explained.

Megain added that Indonesia, once viewed as a “sleeping giant,” is beginning to realize its potential in the global futures industry. “We now see tangible progress, and Indonesia has a real opportunity to reemerge as a major player on the world stage,” he said.