Press release
Indonesia Stock Exchange Partners with Nasdaq to Upgrade Market Infrastructure
Technology partnership will further enhance overall resilience and integrity of the exchange, while supporting the rapid deployment of new products and
About this update from Nasdaq, Inc.
[{"type":"text","content":"Technology partnership will further enhance overall resilience and integrity of the exchange, while supporting the rapid deployment of new products and services Scalable trading platform will quadruple transaction capacity and support development of Indonesian economy NEW YORK and JAKARTA, Indonesia, June 17, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) and the Indonesia Stock Exchange (IDX) today announced an expansion of their technology partnership which will see IDX upgrade its core trading platform to Nasdaq’s most advanced matching engine. The deal also includes an extension of Nasdaq’s market surveillance partnership with IDX, and an agreement to enhance IDX’s Index business to help foster a deeper and sophisticated global capital markets ecosystem. The agreement builds on Nasdaq’s broad range of partnerships across the Indonesian financial system. In addition to Nasdaq’s long-standing relationship with IDX, Nasdaq provides market surveillance technology to OJK, Indonesia’s Financial Services Authority, the core technology platform that underpins KSEI, Indonesia’s central securities depository, and its Calypso treasury solution to Bank Indonesia, the country’s central bank. Collectively, greater interoperability across the fabric of the Indonesian financial system will reduce overall complexity and friction, ultimately helping to create a more efficient capital markets ecosystem. The decision by IDX to modernize its underlying architecture is in line with the strategic pillars set out by OJK to develop a robust, stable, and sustainable capital market that can support the ongoing development of the Indonesian economy. Sunandar, Director of Information Technology and Risk Management at IDX said: “With this trading system and technology infrastructure upgrade, we envisage becoming more competitive and staying attractive for both domestic and international investors. We believe this partnership will speed up the modernization advancement of the Indonesia capital market while supporting sustainable economic growth.” IDX has experienced a period of rapid growth over recent years with trading volumes having increased 65% since 2019, while the total number of investors trading on its exchange has grown by over 400% to 12.6 million. Today IDX has 921 companies listed on its exchange, an increase of 49% over the same period and s...