TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) reported that the Alternative Market Organizer System (SPPA) recorded strong performance in bond transactions throughout 2024. The total value of securities transactions on SPPA reached Rp246.1 trillion, while the Interdealer Domestic Market Share stood at 16 percent. This marks a 76 percent increase in total transaction value and a 77 percent rise in market share compared to the previous year.

On Monday, March 10, IDX officially launched a new Repurchase Agreement (Repo) Transaction feature on SPPA. The launch aligns with SPPA’s development roadmap and aims to enhance the efficiency, effectiveness, and liquidity of bond and money market trading for banks, Regional Development Banks (BPD), and securities firms.

With the introduction of the Repo Transaction feature, SPPA service users can now conduct repo transactions using government bonds (Surat Utang Negara/SUN) as the underlying asset. This complements the existing outright (sell-off) transaction feature available on the SPPA platform.

IDX Development Director Jeffrey Hendrik stated that enabling repo transactions with SUN as the underlying asset on the same platform as SUN trading will position SPPA as a pool of liquidity for bond trading in Indonesia. This integration allows banks, BPDs, securities firms, and money brokers to monitor the bond and money markets on a single platform.

“SPPA also offers a straight-through-processing (STP) system from trading to post-trade, addressing industry needs for efficient money market transactions,” Jeffrey said in a written statement on Tuesday, March 11.

He emphasized that SPPA Repo marks a key step in IDX’s role in strengthening Indonesia’s financial markets. In line with Bank Indonesia’s digitalization strategy, it is expected to become a vital part of the country’s financial market infrastructure.

IDX is committed to providing market players with competitive pricing, best-practice trading mechanisms, and efficient post-trade processes. “We also hope SPPA will serve as a shared platform for the Financial Services Authority (OJK), the Ministry of Finance, and Bank Indonesia to monitor prices, facilitate price quotations by Primary Dealers, and support decision-making on fiscal and monetary policies,” Jeffrey added.

As of early 2025, 39 SPPA users have adopted the Repo Transaction feature, a 95 percent increase since its launch. IDX expects this number to grow with continued engagement and collaboration with market participants.

With the addition of Repo Transactions, SPPA IDX aims to be the go-to platform for Indonesia’s bond and money markets, ensuring efficiency, security, and sustainability in both the capital and money markets.

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