ICDX Responds to Indonesia's Plan for Strategic Commodities Exchange

6 hours ago 8

August 18, 2026 | 04:36 pm

TEMPO.CO, Jakarta – The Indonesia Commodity & Derivatives Exchange (ICDX) has responded to the government’s plan to establish a new exchange for strategic minerals and commodities, saying it will follow whatever framework the government decides.

ICDX Head of Strategic Communications Podogiri Hatmoko said the authority to establish the proposed exchange rests entirely with the government.

“As a market participant, ICDX will follow whatever the government decides regarding the governance of commodity trading through this exchange,” Podogiri told Tempo on Tuesday, August 18, 2026.

He said the establishment of the new exchange would be a positive step toward strengthening Indonesia’s commodity sovereignty and creating national benchmark prices for strategic commodities.

For now, Podogiri said ICDX would remain focused on its role as a commodity and derivatives exchange. ICDX operates under the supervision of the Financial Services Authority (OJK), Bank Indonesia, and the Commodity Futures Trading Supervisory Agency (Bappebti).

Government has yet to decide commodities

Minister of State Secretary Prasetyo Hadi said the government had yet to finalize the list of commodities that would be traded on the proposed Minerals and Strategic Commodities Exchange, which is expected to be called the Indonesia Commodity Exchange, or Icomex.

Prasetyo cited several major commodities produced domestically as potential candidates, including crude palm oil (CPO), nickel, and coal.

The government is also considering whether to merge ICDX into Icomex, Prasetyo said.

“There is a possibility. We will see. It could be merged, or it could remain separate,” Prasetyo told reporters at the Presidential Palace in Jakarta on Monday, August 17, 2026.

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