Bappebti Encourages Strengthening Multilateral Transactions, a Strategic Effort by ICDX

Jakarta- The Commodity Futures Trading Regulatory (Bappebti) has taken several strategic steps to strengthen the commodity futures trading industry in 2025, including optimizing the implementation of the Warehouse Receipt System, developing the Commodity Auction Market, strengthening multilateral transactions based on Indonesia’s key commodities, and enhancing the implementation of Indonesia’s CPO exchange.

Regarding the strengthening of multilateral transactions, Fajar Wibhiyadi, President Director of the Indonesia Commodity & Derivatives Exchange (ICDX), also known as the Indonesian Commodity and Derivatives Exchange (BKDI), stated, "We are certainly aligned with Bappebti’s strategic steps to increase multilateral transactions. The commodity futures trading industry is inherently based on multilateral transactions. For this, several strategic steps have been prepared which are aimed at increasing transaction volume."

"These strategic steps include first, education and literacy. This is very important because currently, society, particularly the business sector, has not fully understood the benefits of multilateral transactions. Secondly, from a product perspective, ICDX will continue to develop multilateral products that align with market needs. And thirdly, in terms of trading technology and infrastructure, we will continue to improve to provide excellent services to stakeholders," said Fajar Wibhiyadi.

Multilateral transactions themselves refer to a trading system where many sellers meet many buyers who don’t know each other (many to many). These transactions occur on an exchange, so all transactions are automatically registered with the exchange. In this multilateral transaction mechanism, ICDX, as the exchange, plays a role in providing facilities and infrastructure for exchange members to carry out transactions. Meanwhile, Indonesia Clearing House (ICH), as the Clearing Institution, plays a role in guaranteeing and settling transactions, including managing risk management, margin, and settlement.

Regarding multilateral transactions, as a note, in 2024, the total transaction reached 1,763,296 lots with a notional value of IDR 150 trillion. Meanwhile, in 2025, up until the end of February, the volume of multilateral transactions was recorded at 123,126 lots with a notional value of IDR 9.978 trillion. The contracts with the largest transaction volumes were GOLDGR with 29,728 lots, GOLDUDMic with 24,224 lots, and CPOTR with 14,668 lots. GOLDGR and GOLDUDMic contracts are multilateral transaction products based on gold commodities, while CPOTR is a multilateral transaction product based on Crude Palm Oil (CPO) commodities.