Indonesian commodities exchange to begin trading in September
Indonesia has followed Asian counterparts Singapore and Hong Kong with the launch of its own commodities exchange set to begin trading in September or October. The Indonesia Commodity & Derivative Exchange (ICDX) will initially trade palm oil and gold futures, with other commodities expected to follow in the future.
Deddy Saleh, head of the Trade Ministry's Commodity Futures Exchange Supervisory Board (Baapebti), says the ICDX will make futures trading more dynamic. "We're a producing country so it's time for us to have a reliable commodity market," he said.
Indonesia is the largest producer of palm oil in the world, and also produces vast amounts of tin, cocoa and coffee. ICDX will become Indonesia's second futures exchange, after the Jakarta Futures Exchange (JFX) started trading last month.
The ICDX
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