BI Grants PUVA Derivatives Licenses to ICDX and ICH

JAKARTA, Investortrust.id — Bank Indonesia grants business licenses to Indonesia Commodity and Derivatives Exchange and Indonesia Clearing House on Wednesday, Feb 11, 2026 in Jakarta, formally appointing them as the country’s first money market and foreign exchange derivatives exchange and clearing institution under the PUVA framework. The move is part of Bank Indonesia’s Blueprint for Money Market Development 2030 aimed at building a modern and internationally aligned financial market ecosystem.

Bank Indonesia issued letter No. 28/81/DPPK/Srt/B dated Jan 26, 2026 appointing ICDX as the organizer of the Money Market and Foreign Exchange Derivatives Exchange. Through letter No. 28/80/DPPK/Srt/B dated Jan 26, 2026, the central bank also designated ICH as the Derivatives Clearing and Guarantee Institution for PUVA.

With the designation, ICDX becomes the first PUVA derivatives exchange licensed by Bank Indonesia, while ICH becomes the first officially licensed clearing and guarantee institution for PUVA derivatives in Indonesia. The approval marked a new phase in domestic derivatives market governance under direct central bank oversight.

ICDX Director Nursalam said the appointment marked a starting point for strengthening Indonesia’s money market and foreign exchange ecosystem. “With this designation from Bank Indonesia to ICDX, it certainly becomes the starting point for ICDX’s development and contribution in supporting a modern, advanced and internationally standardized money and foreign exchange market as envisioned by Bank Indonesia,” he said in a written statement on Wednesday.

He added that ICDX was committed to supporting the development of PUVA derivatives as outlined in the Blueprint for Money Market Development 2030. “We are fully committed to supporting Bank Indonesia’s efforts in developing PUVA derivatives as stated in the BPPU 2030,” he said.

Nursalam said Bank Indonesia expected PUVA derivatives governance to meet international standards, requiring strong competence, cyber resilience and operational efficiency. He said ICDX would focus on strengthening market integrity, customer protection and technology to improve transaction efficiency.

He outlined five strategic steps, including product synergy based on central bank regulations, credible pricing mechanisms, broader participant collaboration, adoption of secure trading infrastructure, and enhanced consumer protection. “And fifth, from the consumer protection side, through effective complaint handling and increasing consumer empowerment through education and literacy programs,” Nursalam said.

Separately, ICH Director Yugieandy Tirta Saputra said the license represented a major mandate from Bank Indonesia. He said ICH would leverage its long experience in commodity futures clearing to support the PUVA derivatives ecosystem.

Yugieandy said ICH was committed to becoming a derivatives infrastructure provider that prioritized security, transparency and efficiency in transaction settlement. He added that comprehensive risk management would be implemented to adapt to market dynamics and support mitigation mechanisms in line with Bank Indonesia’s vision.

Under the BPPU 2030 framework, PUVA derivatives development focuses on liquid and diversified products, efficient and credible pricing policies, active and competent participants, and infrastructure built on interconnection, interoperability and integration. The strategy also emphasizes strong coordination and synergy among stakeholders to meet international standards.