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The Indonesia Commodity and Derivatives Exchange (ICDX), established in 2009, is a leading commodity and derivatives exchange in Indonesia. ICDX provides advanced facilities for the trading of commodities and financial instruments, ensuring a fair and transparent market through stringent regulations. The exchange offers trading in a range of commodities and derivatives, including gold, crude oil, crude palm oil (CPO), and tin. In addition, ICDX facilitates trading in financial instruments such as securities derivatives, money markets, and foreign exchange markets, thereby supporting national interests in the global market.
ICDX operates under the supervision of the Commodity Futures Trading Regulatory Agency (CoFTRA), the Financial Services Authority (OJK), and Bank Indonesia (BI). All transactions are cleared through the Indonesia Clearing House (ICH), ensuring market integrity and security. The exchange offers derivatives for hedging and market-deepening purposes, enhancing liquidity, price discovery, and risk management. Furthermore, ICDX collaborates with ICDX Logistik Berikat (ILB), its affiliated logistics institution, to foster a secure, credible, and accountable market environment.
By attracting a diverse range of market participants—including institutional investors and speculators—ICDX contributes to market resilience. The exchange plays a vital role in Indonesia’s commodity ecosystem by facilitating trade, risk management, and market development. Through its various achievements, ICDX strengthens Indonesia’s position in global commodity and financial markets, helping to establish the country as a key financial hub in the ASEAN region.
ICDX is officially certified with ISO 27001:2022, underscoring our continued commitment to upholding the highest standards of information security, risk management, and operational excellence across our organization.
By implementing state-of-the-art technologies and industry-leading practices in the Indonesian market, ICDX aims to establish a seamlessly integrated and highly trusted ecosystem for exchange trading and clearing of commodities and financial instruments. This robust institutional framework for commodity trade and financial instruments will significantly contribute to strengthening the Indonesian economy, foster interoperability development in the financial market and attract international market players, positioning Indonesia as a key financial hub in the ASEAN region.
- Enable solid and efficient market deepening for financial institutions and trading companies in Indonesia, enhancing liquidity, comprehensive risk management and price discovery mechanisms.
- Deliver innovative facilities, infrastructure, and governance to facilitate fair, transparent, effective, and well-organized commodity and financial instrument trading in Indonesia.
- Continuously evolve product offerings and services to meet the dynamic needs of both domestic and international market player and participants.
The quality of being honest and having strong moral principles
- Words match actions
- Committed to our promises and being on time
- Admitting to our mistakes
The fact or condition of being responsible
- Complete the tasks according to the expected standards
- Provide opinions, ideas, and feedback
- Set a clear target and work priorities
The combined action of a group of people to achieve goals
- Open to others' opinion
- Pay attention and appreciate other divisions
- Willing to develop yourself and your team members
The ability to consistently meet and manage customer's expectations
- Showing competence and quality results
- Understand the customer's needs
- Giving extra mile services
Willingness to learn and to know when you don't know what you need to move forward.
- Accept criticism and suggestions as a goal for a better change
- Ask if there are things you don't know
- Possess the curiosity and motivation to keep learning
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) was established. In the same year, the GOLDGR Contract was launched.
CPOTR futures contract launch as a benchmark price for CPO exporter in Indonesia.
Launch of GOLDUD, GOLDID, and OLEINTR as financially settled daily futures contracts for gold and olein.
The launch of the physical tin contract (INATIN), marking the start of tin trading through an exchange in Indonesia.
The launch of pure tin bar contracts and the adoption of the ICDX CPOTR contract as an official benchmark for CPO export prices.
The First Indonesian Tin Conference was held in Bangka, the heart of Indonesia’s tin production.
The launch of the Local Tin pure tin bar contract and the renaming of ICDX’s clearing house from PT Identrust Security International to PT Indonesia Clearing House (ICH).
ICDX was selected to provide a TSR20 rubber physical contract in the Regional Rubber Market, newly established by the Governments of Indonesia, Malaysia, and Thailand.
The commencement of ICDX Logistik Berikat (ILB) operations, alongside a record-breaking tin trading value of USD 1.6 billion on ICDX.
The launch of GOFX as the first regulated exchange-traded rolling spot and futures platform in ASEAN. In parallel, ICDX attracted international tin buyers, reducing Singapore’s share of tin trading to 24%, from 80% in 2015.
The launch of GOFX Micro. In parallel, the electronic warehouse receipt platform (EPACT) commenced operations, and direct tin imports from Indonesia expanded to 36 countries, up from 26 in 2018.
The launch of COFR, COFU10, and COFU100 contracts. Nearly 3,200 crude oil futures contracts were traded on ICDX in the first week. ICDX also began conducting trading classes multiple times per week.
Became the official exchange for the Digital Gold Physical Market. ICDX enhanced the national gold ecosystem by integrating with digital gold enterprises, creating a fair and structured market for investors.
Officially became the exchange for the Sharia Commodity Murabaha Market. As the first Sharia Murabaha commodity market, ICDX reached a value of IDR 1 trillion in its early stages, enabling Indonesian Sharia banks to expand their services.
ICDX received approval from the Commodity Futures Trading Supervisory Agency under the Ministry of Trade. This endorsement recognized ICDX as Indonesia’s designated exchange for Crude Palm Oil (CPO).
ICDX launched Gold Nano, Indonesia’s first nano-sized gold futures contract, representing a 1-gram gold futures contract denominated in Indonesian Rupiah. This innovative product offers affordability, local pricing, liquidity, and leverage, making gold trading accessible to retail investors and positioning ICDX as a pioneer in nano-investments in Indonesia’s commodity market.
ICDX obtained official authorization from the Financial Services Authority (OJK) through decree S-115/PM.02/2025 as an Infrastructure of Financial Derivatives Trading and Transaction Facilities. In the same year, ICDX officially launched the Renewable Energy Certificate (REC) Market as a concrete step reflecting its commitment to accelerating the growth of renewable energy, while supporting the government’s efforts to reduce carbon emissions in Indonesia.
Through a letter issued by Bank Indonesia No. 28/81/DPPK/Srt/B dated January 26, 2026, Bank Indonesia granted a business license to ICDX as the organizer of the Money Market and Foreign Exchange Derivatives (PUVA).
