Indonesia to open trading at planned commodity bourse on January 4, official says
JAKARTA: Indonesia plans to start trading at its new commodity exchange on Jan 4, 2027, with tin and ferronickel to be included in the opening transactions, the chief supervisor of the commodity exchange said on Tuesday.
Jakarta - Indonesia intends to commence trading at its upcoming commodity exchange on January 4, 2027, according to Sarjito, the chief supervisor of the exchange. Tin and ferronickel will be among the first commodities traded, as announced by Sarjito at a parliamentary hearing. The exchange, named ICOMEX, aligns with President Subianto's goal to increase state control over the nation's abundant natural resources.
Prabowo, the President, has expressed a preference for retaining resources domestically rather than selling them at low prices. Friderica Widyasari Dewi, the chairperson of the Financial Services Authority (OJK), emphasized that the exchange would help curb under-invoicing and eliminate transfer-pricing practices for commodity exports.
OJK plans to release regulations for ICOMEX on September 17, with the exchange officially establishing on the same day. The license for ICOMEX will be granted on January 1, 2027, and trading in minerals and strategic commodities is projected to begin on January 4, 2027, via the ICOMEX entity.
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