ICDX Targets Top 10 Commodity Exchanges in 2020

By : Hariyanto And Aldi Firhand. A | Thursday, July 19 2018 - 22:36 IWST

Indonesia Commodity and Derivative Exchange- ICDX
Indonesia Commodity and Derivative Exchange- ICDX

INDUSTRY.co.id - Jakarta - Indonesia Commodity and Derivatives Exchange (ICDX) targets to enter the top 10 world commodity exchanges in 2020. In order to realize the target, ICDX will launch some new products such as Gold, Oil and Forex (GOFX) in early August.

"Our target could be the top 10, when viewed Indonesia is a big country. The target can be two years achieved, currently still in the top 50, "said ICDX Director Lamon Rutten in Jakarta, Thursday (19/07/2018).

He said that in order to pursue the target, the company needs to cooperate with the Commodity Futures Trading Supervisory Agency (Bappebti) to produce new products.

As an effort to help strengthen the Indonesian economy through futures trading industry, ICDX plans to issue products with new contracts, gold, petroleum and forex that can be accessed more easily and safely by the community.

"We will start with three new products, with gold products, petroleum, and some forex contracts, and we will check all exchange systems, clearing house systems as well as brokerage systems," he explained.

In addition, according to Lamon, there needs to be socialization from the government on the importance of investing properly and legalized by regulation.

"It is expected that the government can give information so that they can invest healthier with regulated exchanges because we as the exchange can not to close the illegal brokers and it can only be closed by the government. Moreover, there is already a law, "Lamon said.

ICDX will also boost its transactions from 2,500 per day to 50,000 lots per day by the end of this year. "50,000 is actually small for a country as big as Indonesia," he said.

Lamon said Indonesia is a big and important country in the world of commodities, but many people do not yet know. With the development of commodity exchanges, the world will see Indonesia.

"Moreover, Indonesia has abundant natural resources and houses for some of the world's major producers such as CPO, Rubber, Nickel and Tin," he said.

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