ICDX Records a 10 Percent Increase in Transactions in the First Quarter of 2024

JAKARTA - The Indonesian Commodity and Derivatives Exchange (ICDX) recorded a 10 percent increase in transactions in the first quarter of 2024 compared to the same period in 2023.

During January-March 2024, total transactions were recorded at 3,375,229.15 lots, an increase from recorded transactions in the same period in 2023 which were 3,064,363.93 lots.

"The transaction record in the first quarter of 2024 is certainly an encouraging thing regarding the commodity futures trading industry. This is because the national political agenda, namely the election, did not have a negative impact," said ICDX Main Director Nursalam in Jakarta, quoted from Antara, Tuesday, April 2.

With these conditions, Nursalam is optimistic that after the election, market conditions will get better, which of course will be in line with transactions that continue to increase.

Of the total transactions that occurred during the first quarter of 2024, Multilateral Transactions reached 432,568 Lots, Alternative Trading System (SPA) Transactions amounted to 2,939,888 lots, and PALN transactions amounted to 2,754.26 lots. There are two contracts that dominate, namely gold commodities with 290,290 lots and Forex with 1,259,411 lots.

Nursalam said that the presidential and legislative elections held on February 14 2024 would not have a negative impact on transactions in commodity futures trading. This can be seen from the transaction records that occur on ICDX or BKDI which show positive records.

The increase in transactions can also be seen from the average daily transactions, from 47,880.69 lots per day in the first quarter of 2023 to 52,737.96 lots per day in the first quarter of 2024.

Both quarter I-2023 and quarter I-2024 have the same number of trading days, namely 64 days. An increase also occurred in terms of national value, from IDR 4,390 trillion in the first quarter of 2023, to IDR 5,989 trillion in the first quarter of 2024, or an increase of 36.39 percent.

Meanwhile, for the second quarter of 2024 until the end of 2024, ICDX projects that transactions will continue to grow positively, where transaction volume at the end of the year is expected to reach above 13 million lots.