Jakarta, 20 December 2022 - The ICDX Commodity Exchange recorded a total volume of Commodity Futures Trading (PBK) transactions reaching up to 4.8 million lots until the first week of December 2022. This total transaction has increased compared to the previous year's total transactions. This shows that PBK is of great interest to the public amidst the many global economic and political events throughout 2022.
ICDX notes that the product that is the largest contributor to PBK transactions is gold contracts with a total transaction volume of 571,416 Lot settled, or more than half of the total transaction volume of all multilateral products traded on ICDX, namely gold, tin, foreign exchange (Forex), and crude oil. During the same period, the total ICDX multilateral transaction volume reached 877,891 lots settled. This was also driven by the launch of more than 20 new foreign currency (forex) contracts.
Several of ICDX achievements in 2022 are the presence of a new product for Transactions of Customer Trust Transfers to Overseas Exchanges (PALN). This can be an option for people who want to transact contracts on foreign exchanges, but do not have access to foreign exchanges. Through PALN on the ICDX Commodity Exchange, customer transactions for contracts belonging to foreign exchanges will be more secure because they are listed on the stock exchange.
"We are also proud to be the first to launch a Sharia commodity product as an innovation in Indonesian Islamic banking. The market is called the Sharia Commodity Murabahah Market. This marked a new era for the Indonesian economy where the Commodity Exchange for the first time worked directly with banking institutions in facilitating market needs. Since being transacted last April until last November, the total transaction value of ICDX sharia commodities has reached IDR700 billion,” said ICDX Board Member, Megain Widjaja.
In 2022, ICDX has also developed a new methodology related to setting margins, namely using VaR (Value at Risk) to increase the effectiveness and efficiency of margin use, and for two consecutive years has succeeded in proving the security of data and information as well as ICDX trading infrastructure through ISO 27001: 2013. This shows ICDX's commitment to customer data protection.
In addition, ICDX's mission to bring added value to Indonesia's leading commodities is reflected in ICDX's involvement in developing Indonesia's carbon market by collaborating with leading stakeholders such as KADIN Indonesia which is the organizer of Indonesia's B20, and BloombergNEF. Shortly, ICDX will be ready to facilitate Indonesia's carbon trading.
About Indonesia Commodity & Derivatives Exchange (ICDX)
The Indonesia Commodity & Derivatives Exchange (ICDX) is a commodity and derivatives exchange based in Indonesia. ICDX's vision is to become a global market exchange that improves national welfare, with a mission to become a benchmark for setting world commodity prices through Indonesian primary products. ICDX is an exchange supported by its members consisting of brokers and traders regulated by BAPPEBTI. ICDX members facilitate customer transaction services which include ICDX commodity futures trading contracts. Trades on ICDX will be settled, guaranteed, and cleared by the Indonesia Clearing House. For more information, please visit www.icdx.co.id
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