SPPA Records 76 Percent Increase In Transactions In 2024, Ready To Add Repo Services

IDX Development Director, Jeffrey Hendrik. (Photo: Special)

JAKARTA - The Alternative Market Organizing System (SPPA) managed by PT Bursa Efek Indonesia (IDX) further strengthens its position as the center of the debt securities trading ecosystem in the Indonesian Securrency Market by showing its increasingly brilliant performance throughout 2024. The total transaction value of SPPA in 2024 was recorded at IDR 246.1 trillion, an increase of more than 76 percent compared to 2023.

"In terms of market share, currently the SPPA market share has reached 16 percent throughout 2024 for all interdealer market transactions, or almost doubled compared to 2023," said IDX Development Director Jeffrey Hendrik, through his official statement, quoted Friday 7 February.

Jeffrey explained that various strategic and integrated efforts continue to be made to increase the role of SPPA in facilitating market participants. In addition to increasing the function and technical capability of SPPA and its ecosystem, the IDX also strives to continue to improve communication, coordination, and synergy with Market Actors, Interestholders, and other Strategic Partners, both nationally and globally.

"We designed the SPPA in such a way to answer the needs of debt market players in Indonesia, with an orientation towards ease, efficiency, and convenience of its Service Users," added Jeffrey.

Meanwhile, the IDX's target in increasing the role of SPPA is to increase the liquidity and efficiency of Indonesia's Securities trading. Moreover, a number of strategic partners who are global market leaders in providing financial market and capital market trading information facilities have also started strategic steps to build partnerships with SPPA.

His party, continued Jeffrey, is also working on making SPPA a role as part of the financial market infrastructure ecosystem to support the government in building a modern money market that can create economic financing synergies.

"For this reason, starting in the first quarter of 2025, SPPA will provide Repurchase Agreement (Repo) transaction services using underlying Debts," said Jeffrey.

Jeffrey also added that in addition to making debt transactions, the expansion of this service aims to ensure that market participants can get additional benefits to be able to make money market transactions at SPPA. IDX hopes that SPPA can be the best choice for market participants who long for an integrated, effective, and efficient process of Debt and Repo transactions.

"With a more reliable system and more complete service, SPPA is expected to be the main choice, both from debt trading market players and trading players in the Money Market," he concluded.