Jakarta – In recognition of institutions that have demonstrated strong performance and active participation in the Alternative Market Trading System (SPPA), Indonesia Stock Exchange (IDX) once again held the 2025 SPPA Awards on Monday (13/4) at the IDX Main Hall. This award ceremony is held annually with the aim of encouraging banks, regional development banks, and securities companies, as SPPA service users, to further optimize their use of the platform and contribute to enhancing liquidity in the debt and money markets.
Kristian Manullang, Director of Surveillance and Compliance at IDX stated, “This year marks the second time of the SPPA Awards. There is an additional award category related to Repurchase Agreement transactions, which were only implemented starting in the first quarter of 2025.” He added that the awards are presented as a token of appreciation to Service Users who have actively demonstrated strong support for and trust in the SPPA by utilizing it as their primary platform for Debt Securities and Money Market transactions, thereby supporting liquidity development in the alternative market.
Kristian explained that the evaluation for the 2025 SPPA Awards was based on the total value of matched transactions on the SPPA platform, covering the period from January 1 to December 31, 2025. “We conducted the 2025 SPPA Awards evaluation thoroughly, in accordance with the previously communicated criteria. All Service Users, both long-standing participants and those who joined during the evaluation period, had equal opportunity to participate and be recognized as best Service Users across multiple categories,” he noted.
At the 2025 SPPA Awards, PT Bank Mandiri (Persero) Tbk was recognized as the Most Active Bank for fixed-income transactions, while PT Bank Negara Indonesia (Persero) Tbk was named the Most Active Dealer for repo transactions. PT BRI Danareksa Sekuritas was recognized as the Most Active Securities Firm for fixed-income transactions. The Most Active category is awarded to banks and securities firms with the highest total transaction value across all transaction mechanisms. IDX also presented awards to Service Users with the greatest contribution to providing quotes and executing transactions through the Central Limit Order Book (CLOB). PT Bank Permata Tbk was named Best Market Maker for fixed-income transactions, and PT Bank DBS Indonesia for Repo transactions at the 2025 SPPA Awards.
In addition, the Rising Star of the Year 2025 awards were given to banks and securities firms that recorded a significant increase in total transaction value across all transaction mechanisms compared to the previous year. PT Bank Maybank Indonesia Tbk and PT Bank OCBC NISP Tbk received the award in the Banking category, while PT Mandiri Sekuritas was recognized in the Securities category.
IDX also acknowledged Service Users demonstrating a strong commitment to utilizing the SPPA in their trading activities. The Most Engaged Dealer awards were presented to Service Users with the highest percentage of SPPA transactions compared to those reported through the Securities Transaction Report Recipient (PLTE). PT Bank Syariah Indonesia Tbk secured the Most Engaged Dealer award for fixed-income transactions, while PT Bank Pan Indonesia Tbk for Repo transactions.
Two new categories were introduced in 2025, namely the Best First Mover award – granted to the highest total matched transactions value for non-fixed-rate fixed-income instruments – that was awarded to PT Trimegah Sekuritas Indonesia Tbk and the Most Active Regional Development Bank award that was presented to PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk.
The 2025 SPPA Award Ceremony served as the culmination of the SPPA appreciation program series throughout 2025. This event is expected to further encourage Service Users to play a more active role in enhancing liquidity in the alternative market through SPPA. Furthermore, this initiative serves as recognition of market participants’ contributions to fostering a more dynamic and sustainable market ecosystem.
