Indonesia Commodity & Derivatives Exchange or ICDX is a leading commodity exchange with an integrated clearing house and bonded logistics center. ICDX conducts multilateral commodity and derivative trading in Indonesia. We aim to be a fair, organized, transparent, and modern commodity trading center. We also provide facilities and infrastructure for optimal exchange services for trading commodities such as gold, crude oil, tin, and foreign exchange.
By bringing best-in-class technologies and practices to the Indonesian market, ICDX will provide a well-integrated and highly-trusted ecosystem for exchange trading and clearing for commodities and financial instruments. This will contribute in a significant manner to strengthening the Indonesian economy and attracting international market players to the country.
The quality of being honest and having strong moral principles
The fact or condition of being responsible
The combined action of a group of people to achieve goals
The ability to consistently meet and manage customer's expectations
Willingness to learn and to know when you don't know what you need to move forward.
Nursalam has extensive experience in the commodity futures trading industry since 1998. On May 25th 2021, Nursalam was appointed to become the Director of ICDX. Through this appointment, he aims to bring ICDX as the top commodity exchange in Indonesia with international recognition.
Prior to becoming director of the ICDX, he served as a director of ICH and as a director in several futures brokerage firms. Under his leadership, ICH issued e-CITRA (Clearing Info of Trade) to implement transparency in the transaction clearing process through ICH. In addition, ICH also obtained ISO 27001 certification in 2020, as the embodiment of ICDX and ICH's Business Continuity Plan (BCP) which adapts to the digitization of the company's work system.
Aside from holding out his duties as a director, Nursalam enjoys photography and automotive in his free time.
Megain Widjaja is the President Director of Indonesia Clearing House (ICH). He is responsible for implementing the organization’s mission of adopting an international standard to assess transactions efficiently.
Megain received his bachelor's degree with honor from Seattle University in Business Administration, majored in Finance and Accounting, in 2005. While on fellowship, Widjaja examined how U.S. financial regulators work together and deepened his knowledge of digital media and startup development. In addition, he explored the balance between conservation and land use in the national parks system. Megain had begun his career as an Investment Officer at R.A Bench Wealth Management, where he managed both retail and corporate financial instruments, including hedge funds and commodity funds.
Previously, Megain has led ICDX to grow remarkably through the development of commodity and financial-based futures contracts. Some of ICDX’s notable achievements include being appointed by the Indonesia Ministry of Trade to run Indonesia Tin Exchange in 2013. By 2018, Indonesia has succeeded to increase the number of tin export destinations from 14 to 28 countries. He has built an integrated and modernized commodity trading ecosystem and pioneered multilateral-based commodity futures trading in Indonesia.
Indonesia Commodity & Derivatives Exchange (ICDX) established
The launch of GOLDGR Contract
CPOTR futures contract launch as a benchmark price for CPO exporters in Indonesia
The launch of GOLDUD & GOLDID & OLEINTR
Financially settled daily futures contracts for gold and olein
The launch of tin physical contract (INATIN)
The start of tin trading through an exchange in Indonesia
The launch of pure tin bars contracts and adoption of the ICDX CPOTR contract as an official benchmark for CPO export prices
The First Indonesian Tin Conference held in Bangka, the heart of Indonesia’s tin production
The Launch of Local Tin pure tin bars contract
The name of ICDX’s clearing house was changed from PT Identrust Security International to PT Indonesia Clearing House (ICH)
ICDX selected to provide a TSR20 rubber physical contract in the Regional Rubber Market, newly established by the Governments of Indonesia, Malaysia, and Thailand.
ICDX Logistik Berikat (ILB) starts operations
The value of tin traded in ICDX reaches its highest value yet, USD 1.6 billion
GOFX goes live, the first regulated exchange-traded rolling spot and futures contracts in the ASEAN region. By ICDX attracting international tin buyers, only 24% of tin now trades through Singapore, down from 80% in 2015
Launch of GOFX Micro
The electronic warehouse receipt platform (EPACT) starts operating; as many as 36 countries now directly import tin from Indonesia (up from 26 in 2018)
The launch of COFR, COFU10, COFU 100 contracts
In its first week, almost 3,200 crude oil futures contracts were traded at ICDX. ICDX starts organizing trading classes multiple times per week.
Officially Becomes the Exchange for Digital Gold Physical Market
ICDX complements the national gold market ecosystem by integrating with digital gold enterprises to create a fair and organized market for digital gold investors.
Officially Becomes the Exchange for Sharia Commodity Murabahah Market
As the first Sharia Murabahah Commodity Market, ICDX reached a value of 1 trillion Rupiah during its early stages, enabling Indonesian Sharia Banks to expand its service.