SPPA IDX Repo Transaction Value Reaches More Than IDR 100 Trillion

Indonesia Stock Exchange Building. (Angga Nugraha/VOI)

JAKARTA - The Alternative Market Operator System (SPPA) managed by PT Bursa Efek Indonesia (IDX) managed to record extraordinary achievements with the Repurchase Agreement (Repo) transaction value reaching more than IDR 100 trillion in the first 3 months since its launch on March 10, 2025.

As of May 28, 2025, the total value of Repo transactions at SPPA reached Rp. 100.85 trillion, with the average daily transactions reaching Rp. 2.86 trillion. This figure shows the high enthusiasm of market participants for the newly launched Repo transaction feature as well as indicating that SPPA is strengthening its position again as the center of the debt trading ecosystem in the Indonesian Securrency Market.

The launch of the Repo transaction feature is part of the Roadmap for the development of Indonesia's Bond Trading platform which is initiated and managed by the IDX.

IDX Development Director Jeffrey Hendrik revealed that SPPA is designed to answer the needs of market players in Indonesia, oriented to ease, integration, and efficiency and convenience of its Service Users.

"We are determined to make SPPA the center of the debt transaction ecosystem at the Securer Indonesia Market which can play a significant role in increasing market liquidity and efficiency," said Jeffrey, Wednesday, June 18.

Furthermore, Jeffrey explained, one of the strategies taken to make this happen is to strive so that SPPA can play a role as part of the Financial Market Infrastructure ecosystem to support the government in building a modern money market in the context of economic financing synergies. For this reason, starting in the first quarter of 2025, SPPA has provided Repo transaction services using underlying debt securities.

For information, the transaction value achieved was recorded by 12 (twelve) Service Users who already have a Repo transaction account at SPPA out of a total of 39 Jasa Users who already have a discontinued buying and selling account (outright). This transaction value certainly has even greater potential in the future considering the wide participation in Pasar Repo starting from Banks, Regional Development Banks, Securities, and others.

"One of our current priorities to encourage the achievement of the value of Debt Repo transactions at SPPA is to expand the use of SPPA as the main platform to carry out various transactions related to Debt in Indonesia," said Jeffrey.

The IDX also focuses on horizontal expansion by continuing to encourage more market players to be able to use SPPA.

The presence of a qualified Debt Repo transaction feature at SPPA, of course, will make SPPA a pool of liquidity for the Indonesian financial market. In addition to the complete transaction feature using the latest technology, the market price formation process is also carried out fairly, regularly, and efficiently. The SPPA Repo also presents a method of calculating the value of various settlements that can accommodate the needs of Market Players (ICMA method and Bank Indonesia).

In addition, the trading and reporting mechanisms are designed using the straight through processing (STP) concept, which allows the efficiency of the post trade (post) repo transaction process in the same system.

By continuing to innovate and provide effective and efficient transaction solutions, IDX hopes that SPPA can be the best choice for market players who long for an integrated, effective, and efficient process of Debt and Repo transactions.