The Indonesia Stock Exchange (IDX) is targeting transactions on the Alternative Market Trading System (SPPA) to reach Rp 140 trillion in 2024. Throughout 2023, SPPA transactions amounted to Rp 139 trillion, involving 33 service users.
"We hope that by the end of 2024, we can achieve transaction values of Rp 140 trillion," said Firza Rizqi Putra, Head of the Business Incubation Division at IDX, at the IDX Building on Monday (19/2/2024). Firza expressed optimism regarding market participants' enthusiasm for utilizing SPPA as the preferred trading platform for fixed-income securities.
To enhance transaction volumes on SPPA, Firza stated that the exchange will conduct outreach efforts and engage in discussions with current and potential users. "To encourage more users to participate in SPPA, we will engage in discussions with policymakers," he added. He revealed that IDX continues to advocate for SPPA to play a more strategic role in providing convenience and equality in transactions and reporting. "We hope that SPPA will have a more vital role in the future. That might be the strategy moving forward," he said.
SPPA serves as a trading platform for the secondary market of Debt Securities and Sukuk in Indonesia. It is a service provided by IDX as an Alternative Market Operator (PPA) based on the mandate of POJK No.8/POJK.04/2019 concerning Alternative Market Operators.
The IDX's ambition to boost SPPA transactions reflects its commitment to enhancing the efficiency and accessibility of Indonesia's capital markets, ultimately fostering economic growth and development.