ICDX Group 12th Anniversary

It has been more than a decade that ICDX Group has contributed to the commodity futures trading industry. Right on its 12th anniversary, ICDX Group also expressed appreciation to all members and business partners who have supported ICDX Group's journey in an effort to modernize commodity futures trading in Indonesia.

In this virtual celebration—considering the worsening pandemic situation—ICDX Group invites all members of brokers, traders, governments, associations, and other parties who have supported ICDX Group's journey over the past 12 years.

Prof. Dr. K. H. Said Aqil Siradj, as the President Commissioner of ICDX, opened the event with remarks and prayers. "The 12-year journey of ICDX Group has certainly not been without twists and turns. Together with our partners and members, we have succeeded in reaching special achievements."

Also on this occasion, Indrasari Wishnu Wardhana, as Head of the Commodity Futures Trading Supervisory Agency (CoFTRA), gave directions based on the development of the PBK industry, especially in the midst of the challenges of the COVID-19 pandemic. According to CoFTRA data, transactions on the futures exchange recorded growth in value and volume of 13,210,336 lots throughout 2020, an increase of 18.85% compared to the same period in 2019.

Furthermore, as an industry, of course the PBK industry players need a forum for aspirations. This is where the Indonesian Commodity Futures Trading Association (Aspebtindo) plays a role in maintaining togetherness and support among industry players.

"Synergy between various parties, the stock exchange as an infrastructure provider, and the government that provides support will be able to accelerate the achievement of the PBK industry," said Udi Margo Utomo, Chairman of Aspebtindo.

Together with other members and relations, ICDX Group has managed to record great achievements over the last 12 years. Since its inception, ICDX Group has strived to build an integrated trading ecosystem through the structured operation of the ICH Clearing House and ILB logistics center. This ecosystem is the foundation for ICDX Group in developing and strengthening Indonesia's commodity trading infrastructure, so as to form a liquid and efficient financial market.

"During our 12 years, ICDX and ICH have made many efforts to modernize Indonesia's commodity futures trading, through financial market deepening and otherwise," said Lamon Rutten, CEO of ICDX.

ICDX Group's Notable Achievement

ICDX Group's infrastructure readiness is reflected in one of the significant achievements, namely GOFX. Derivative products that include gold, crude oil, and foreign exchange (forex) have become a bridge for the public to access opportunities in the commodity market. Especially for GOFX Micro, the younger generation can start diversifying their investment portfolio with affordable capital.

Since its launch in 2018, GOFX has achieved an average growth of 900% annually. GOFX has also become one of the main contributors to the achievement of ICDX multilateral derivative transactions. It should be noted that the growth of ICDX multilateral transactions reached 57.9% in the first half of 2021.

In addition, the number of investors for ICDX multilateral products increased 1520% in 2020 from the previous year. The GOFX Micro Trading class contributed the most, namely 55% of the total increase in the number of investors, and was recorded to be dominated by the average age range of 21-40 years.

Based on GOFX digital data, GOFX's audience is dominated by Generation Z (18-24 years) and millennials (25-34 years). It can be said that GOFX is a strategic derivative product for young Indonesians with an age range of 25-34 years or the millennial generation, where this age range is a slice of the average age of GOFX investors and GOFX digital audiences.

As of June 2021, GOFX's total transactions have reached 294,658 lots settled. This figure is an increase of 137% compared to the same period in 2020. To support this growth, ICDX has launched four new spot forex contracts this year, namely NZDJPY (Micro), EURCHF (Micro), GBPCAD (Micro), and CHFJPY.

In addition, throughout 2020 ICDX has also launched 11 new contracts consisting of USD and Rupiah-based crude oil futures contracts, Rupiah-based gold spot contracts, and several forex spot contracts.

ICDX Group's Operational and Information Security

As a commodity exchange, ICDX has a vision to become a global trading center by presenting technology and best practices in the Indonesian commodity market. Integration in the ICDX Group ecosystem is also capable of conducting multilateral trading—as a means of financial deepening—which will provide price transparency, ease of accessibility, and affordability of derivative instruments to the public.

ICH also applies this transparency in the transaction clearing process. To that end, ICH has obtained ISO 27001 certification from SGS to ensure operational security and information risk management at all levels. Through ISO 27001, ICH will protect the confidentiality, integrity and availability of information.

This includes information processing systems, services or infrastructure, and information storage places that consider all types of risks that may occur and the coping mechanisms. Protection of information assets will support ICH in implementing the system and providing clearing and settlement facilities for transactions on ICDX effectively.

"During the assessment that was conducted on the 30th and 31st of March 2021, the SGS auditors were very pleased to see the level of commitment and the implementation of your [ICDX-ICH] information security management system,” said Mike Bruinsma as the representative from SGS.

Of course, all of these achievements cannot be separated from the support and hard work of various parties. Starting from government agencies, brokers, traders, associations, business relations, and the entire ICDX Group family. Looking forward to the coming years, ICDX Group hopes that all PBK industry players who are members of the ICDX ecosystem can continue to synergize and provide mutual support to achieve even greater achievements.

ICDX Group is also committed to continue to play an active role in supporting the government's plan to develop Commodity Futures Trading as one of the efforts for the 2021 National Economic Recovery (PEN) by continuing to innovate to present new products that are in high demand by the market, and provide security and guarantee for transactions in the commodity market. Indonesian futures.

ICDX Group Employee Awards