IX Indobursa Exchange Realizes Transparency And Efficiency In Futures Commodity Trading In Indonesia

Photo: Special

JAKARTA - IX Indobursa Exchange is proud to introduce a commodity exchange that focuses on trading strategic commodities in Indonesia, especially as a reference to the price of crude palm oil (CPO) trading. Indonesia, as the largest CPO producer in the world, requires efficient governance and trading mechanisms.

The presence of the IX Indobursa Exchange is expected to support transparency and effectiveness in commodity trading in Indonesia. Indobursa Exchange itself is an independent commodity futures exchange owned by physical commodity actors and in collaboration with PT Kliring Berjangkat Indonesia, a subsidiary of BUMN Danareksa Holding for the clearing process and completion of transactions.

The event was held to introduce the IX Indobursa Exchange to stakeholders and demonstrate a more transparent, orderly, and effective commodity trading potential.

Some of the main objectives of this event include:

1. Introducing IX Indobursa Exchange as a reliable and transparent commodity trading exchange, as well as having a permit as a futures exchange from the CoFTRA - Ministry of Trade.

2. Provide insight into the futures trading mechanism in Indobursa which is based on multilateral.

3. Build a network with industry players, such as palm oil entrepreneurs, commodity brokers, and the government.

4. Provide discussion space related to the development of the futures of the commodity industry in Indonesia and future challenges.

President Director of IX Indobursa Exchange Agung Rihayanto said, IX Indobursa Exchange is designed to support the transparency and efficiency of strategic commodity trading in Indonesia, especially CPO.

"We hope to be a credible price reference and a solution in better commodity trading governance," he explained, quoted on Saturday, October 5.

Chairman of the Chamber of Commerce and Industry (KADIN), Arsjad Rasjid congratulated the presence of the Indobursa Exchange for trusted futures. Indonesia's natural commodities are extraordinary.

"Therefore, Indonesia must be ready to compete globally, and here the Indobursa Exchange will play a role. Apart from regulation from the government, the role of the market is key. IX can be present as an efficient and transparent platform and is able to facilitate price disclosure, especially for strategic commodities for the national economy, ranging from agriculture, plantations, to energy. So that it can achieve economic growth equivalent to 8 percent and realize a Golden Indonesia in 2045," he explained.

Meanwhile, President Director of PT Kliring Berjangka Indonesia Budi Susanto said this is a major step towards transparency and efficiency in commodity trading, especially palm oil, which is an important pillar in the Indonesian economy.

"We are confident that with the presence of IX Indobursa, we will see significant developments in the management of a more modern, inclusive and competitive commodity market," he said.

The Head of the Commodity Futures Trading Supervisory Agency (BAPPEBTI) Dr. Ir. Kasan, MM said, the introduction of the IX Indobursa Exchange is one of the concrete steps in realizing what the government has planned since the previous year. As the largest CPO producer in the world, Indonesia has a strategic role in determining the direction of the global commodity market.

"The government will continue to strive to create transparent and credible price references, especially in the CPO industrial sector, in order to strengthen Indonesia's position in the international market," he said.

Indobursa Exchange carries the concept of healthy collaboration with various parties in the palm oil industry, ranging from small farmers to large companies. Thus, Indobursa not only provides an open market for all, but also supports product quality improvement and trade efficiency.

This introduction is expected to be the beginning for the transformation of the Indonesian palm oil industry towards a more modern, transparent, and sustainable trade.