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Indonesia Stock Exchange
Indonesia Stock Exchange (IDX) (Indonesian: Bursa Efek Indonesia (BEI)) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX). In recent years, the Indonesian Stock Exchange has seen the fastest membership growth in Asia. As of December 2024, the Indonesia Stock Exchange had 943 listed companies, and total number of investors has already grown to 17 million. Indonesia Market Capitalization accounted for 45.2% of its nominal GDP in December 2020. Founded on 30 November 2007, it is ASEAN's largest market capitalization at US$881 billion as of 19 September 2024.
In September 2023, Indonesia's Former President, Joko Widodo (2014-2024), inaugurated the Indonesia Carbon Exchange (IDXCarbon), developed and managed by the Indonesia Stock Exchange (IDX). This initiative aims to support Indonesia's Nationally Determined Contribution (NDC) targets and address the growing need for carbon trading in the country.
IDXCarbon is Indonesia's first official carbon exchange, registered with and supervised by the Financial Services Authority. Currently, the exchange facilitates trading in PTBAE-PU (allowances) and SPE-GRK (carbon offsets). As of January 2025, IDXCarbon has listed four projects under SPE-GRK, with a trading volume exceeding 1 billion tCO2e and a trading value of 55 trillion IDR.
The current location of the Indonesian Stock Exchange is located in the IDX building in the Sudirman Central Business District, South Jakarta, close to Pacific Place Jakarta.
Historically, the capital market has existed long before Indonesia's independence. Since the new era of the Dutch East Indies, the government began building plantations on a large scale in the Dutch East Indies. Sources of funds for building the plantation were obtained from the Dutch and other Europeans. Stock transactions in securities trading were first recorded in 1892, which was carried out by the Plantation Company in Batavia, namely Cultuur Maatschappij Goalpara, it was written that the company sold 400 shares at a price of 500 guilders per share outstanding. Four years later, Het Centrum also released a prospectus for the sale of shares with a value of up to 105 thousand guilders with a price per share of 100 guilders.
After careful preparation, the first capital market in Indonesia was finally established in Batavia (Jakarta) on 14 December 1912, which was named Vereniging voor de Effectenhandel or Stock Exchange and immediately started trading activities. The capital market at that time was established by the Dutch East Indies government for the benefit of the colonial government. The shares traded are shares or bonds of Dutch companies/plantations operating in Indonesia where the bonds issued by the provincial and municipal governments have company share certificates issued by the administrative office in the Netherlands and then the securities of other Dutch companies. The development of the capital market in Batavia is so fast that it attracted people from other cities.
The development and growth of the capital market did not go as expected, even during several periods of capital market activity experiencing a vacuum. This was caused by several factors such as the war which required the stock exchange to be closed, including in 1914-1918 the stock exchange was closed due to the occurrence of World War I. During World War II, the Stock Exchanges in Semarang and Surabaya had to be closed again in early 1939 and continued with the closing of the Stock Exchanges in Jakarta in 1942–1952. The transfer of power from the colonial government to the government of the Republic of Indonesia, and various conditions that caused the operation of the stock exchange to not run properly.
The Jakarta Stock Exchange was re-opened by President Sukarno on 3 June 1952. Until finally the existence of the Stock Exchange was again inactive when there was a nationalization program of Dutch companies from 1956 to 1977. The purpose of this re-opening of the stock exchange was to accommodate government bonds that had been issued in 1956, the previous year. The management of the stock exchange was then handed over to the money and securities trading union consisting of 3 banks and Bank Indonesia as honorary members. The development of this stock exchange is progressing well although the securities traded are generally bonds by Dutch companies and Indonesian government bonds through the Indonesian Development Bank. Through the State Industrial Bank in 1954, 1955 and 1958 bond sales increased. The occurrence of a power dispute between the Indonesian government and the Netherlands regarding West Irian meant that all Dutch businesses were nationalized through Act No. 86 of 1958. This dispute resulted in securities from the Netherlands no longer being traded on the Jakarta Stock Exchange.
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Indonesia Stock Exchange
Indonesia Stock Exchange (IDX) (Indonesian: Bursa Efek Indonesia (BEI)) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX). In recent years, the Indonesian Stock Exchange has seen the fastest membership growth in Asia. As of December 2024, the Indonesia Stock Exchange had 943 listed companies, and total number of investors has already grown to 17 million. Indonesia Market Capitalization accounted for 45.2% of its nominal GDP in December 2020. Founded on 30 November 2007, it is ASEAN's largest market capitalization at US$881 billion as of 19 September 2024.
In September 2023, Indonesia's Former President, Joko Widodo (2014-2024), inaugurated the Indonesia Carbon Exchange (IDXCarbon), developed and managed by the Indonesia Stock Exchange (IDX). This initiative aims to support Indonesia's Nationally Determined Contribution (NDC) targets and address the growing need for carbon trading in the country.
IDXCarbon is Indonesia's first official carbon exchange, registered with and supervised by the Financial Services Authority. Currently, the exchange facilitates trading in PTBAE-PU (allowances) and SPE-GRK (carbon offsets). As of January 2025, IDXCarbon has listed four projects under SPE-GRK, with a trading volume exceeding 1 billion tCO2e and a trading value of 55 trillion IDR.
The current location of the Indonesian Stock Exchange is located in the IDX building in the Sudirman Central Business District, South Jakarta, close to Pacific Place Jakarta.
Historically, the capital market has existed long before Indonesia's independence. Since the new era of the Dutch East Indies, the government began building plantations on a large scale in the Dutch East Indies. Sources of funds for building the plantation were obtained from the Dutch and other Europeans. Stock transactions in securities trading were first recorded in 1892, which was carried out by the Plantation Company in Batavia, namely Cultuur Maatschappij Goalpara, it was written that the company sold 400 shares at a price of 500 guilders per share outstanding. Four years later, Het Centrum also released a prospectus for the sale of shares with a value of up to 105 thousand guilders with a price per share of 100 guilders.
After careful preparation, the first capital market in Indonesia was finally established in Batavia (Jakarta) on 14 December 1912, which was named Vereniging voor de Effectenhandel or Stock Exchange and immediately started trading activities. The capital market at that time was established by the Dutch East Indies government for the benefit of the colonial government. The shares traded are shares or bonds of Dutch companies/plantations operating in Indonesia where the bonds issued by the provincial and municipal governments have company share certificates issued by the administrative office in the Netherlands and then the securities of other Dutch companies. The development of the capital market in Batavia is so fast that it attracted people from other cities.
The development and growth of the capital market did not go as expected, even during several periods of capital market activity experiencing a vacuum. This was caused by several factors such as the war which required the stock exchange to be closed, including in 1914-1918 the stock exchange was closed due to the occurrence of World War I. During World War II, the Stock Exchanges in Semarang and Surabaya had to be closed again in early 1939 and continued with the closing of the Stock Exchanges in Jakarta in 1942–1952. The transfer of power from the colonial government to the government of the Republic of Indonesia, and various conditions that caused the operation of the stock exchange to not run properly.
The Jakarta Stock Exchange was re-opened by President Sukarno on 3 June 1952. Until finally the existence of the Stock Exchange was again inactive when there was a nationalization program of Dutch companies from 1956 to 1977. The purpose of this re-opening of the stock exchange was to accommodate government bonds that had been issued in 1956, the previous year. The management of the stock exchange was then handed over to the money and securities trading union consisting of 3 banks and Bank Indonesia as honorary members. The development of this stock exchange is progressing well although the securities traded are generally bonds by Dutch companies and Indonesian government bonds through the Indonesian Development Bank. Through the State Industrial Bank in 1954, 1955 and 1958 bond sales increased. The occurrence of a power dispute between the Indonesian government and the Netherlands regarding West Irian meant that all Dutch businesses were nationalized through Act No. 86 of 1958. This dispute resulted in securities from the Netherlands no longer being traded on the Jakarta Stock Exchange.