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Indonesian Stock Exchange partners with Nasdaq to modernize market infrastructure

Indonesian Stock Exchange partners with Nasdaq to modernize market infrastructure
Indonesian Stock Exchange partners with Nasdaq to modernize market infrastructure


The technology partnership will further improve the 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 the development of Indonesia's economy

NEW YORK AND JAKARTA, JUNE 17, 2024 Nasdaq (Nasdaq: NDAQ) and the Indonesia Stock Exchange (IDX) today announced an expansion of their technology partnership that will see IDX upgrade its core trading platform to Nasdaq's most advanced matching engine. The agreement also includes an expansion of Nasdaq's market surveillance partnership with IDX, as well as an agreement to enhance IDX index activities to help foster a deeper and more sophisticated global capital markets ecosystem.

The agreement builds on Nasdaq's wide 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, the Indonesian Financial Services Authority, the core technology platform that underpins KSEI, the central depository of securities from Indonesia, and its Calypso treasury solution at Bank Indonesia, the country's central bank. . Collectively, greater interoperability within the Indonesian financial system will reduce overall complexity and friction, helping to create a more efficient capital markets ecosystem.

IDX's decision to modernize its underlying architecture is in line with the strategic pillars defined by OJK to develop a robust, stable and sustainable capital market which can support the continued development of the Indonesian economy.

Sunandar, Director of Information Technology and Risk Management at IDX, said: With this upgrade of the trading system and technology infrastructure, we plan to become more competitive and remain attractive to domestic investors and international. We believe this partnership will accelerate the modernization of Indonesia's capital market while supporting sustainable economic growth.

IDX has experienced a period of rapid growth in recent years, with trading volumes increasing by 65% ​​since 2019, while the total number of investors trading on its exchange increased by more than 400% to 12.6 million. Today, IDX has 921 companies listed on its exchange, an increase of 49% over the same period and consolidating its leading position among ASEAN markets, driven by the continued development of the Indonesian economy.

Nasdaq's modular and scalable platform will support IDX's continued ability to serve Indonesia's capital market as its economy grows. The platform supports trading of traditional asset classes, including equities, fixed income, foreign exchange and derivatives, as well as digital assets, providing the flexibility to support the purpose of IDX to increase the number of products and services it offers to customers. Additionally, by bringing a flexible architecture to the Index business, IDX will be able to design and

launch new indices as growth opportunities arise. Ultimately, the new platform will quadruple trading capacity while supporting a low-latency, deterministic trading experience.

Magnus Haglind, Head of Market Technology at Nasdaq, said: “Nasdaq plays a vital role at the heart of Indonesia's modernization story. We are pleased to be able to support the vision and ambition of the Indonesia Stock Exchange to become a world-class exchange. By supporting the development of a deep and sophisticated capital markets ecosystem in Indonesia, we can help generate growth and prosperity across the country and the wider region.

Nasdaq's Financial Technology division provides critical capital markets and regulatory technology solutions to the financial services industry. As a large-scale platform partner, Nasdaq leverages deep industry experience and technology expertise to help more than 3,500 banks, broker-dealers, regulators, financial infrastructure operators and buy-side firms solve their operational challenges the most difficult while advancing the modernization of the entire sector.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, broker-dealers and exchange operators as they navigate and interact with the global capital markets and the financial system in the broad sense. We aspire to provide leading platforms that improve the liquidity, transparency and integrity of the global economy. Our diverse offering of data, analytics, software, trading capabilities and customer-centric services enables customers to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, at X @Nasdaq or at

About the Indonesia Stock Exchange

IDX is the only stock exchange in Indonesia whose main function is to create a fair, orderly and efficient capital market in Indonesia. IDX promotes a sustainable capital market through various initiatives and works closely with all stakeholders to ensure transparency and investor protection. As part of the Self-Regulatory Organization (SRO) aimed at providing a strong capital market infrastructure in Indonesia, IDX is also supported by IDClear as a Clearing and Guarantee Institution or Central Counterparty (CCP) and KSEI , Central Securities Depository of Indonesia, as a depository and settlement institution. . To learn more about IDX, visit our website or official social networks




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