Jakarta – Debt Securities and Sukuk Trading (EBUS) and Repurchase Agreements (Repo) in Indonesia’s financial market have entered a new phase, marked by the growing participation of Commercial Banks, Regional Development Banks (BPD), and securities companies utilizing the Alternative Market Trading System (SPPA) of the Indonesia Stock Exchange (IDX). The IDX SPPA serves as a platform for conducting EBUS transactions, both in the form of buy-sell and repo agreements. As of October 27, 2025, there are 38 SPPA Service Users, consisting of 20 Banks, 2 BPDs, and 16 Securities Firms. The number of Repo Service Users has also increased from 12 to 14.
The rising utilization of the IDX SPPA for buy-sell and repo transactions by market participants has led to an all-time high transaction value on the platform, surpassing IDR 1,000 trillion year-to-date (ytd) 2025. As of October 27, 2025, the total transaction value on SPPA reached IDR 1,011.2 trillion, with an average daily transaction value of IDR 5.3 trillion. This represents a 412.6% increase compared to total transactions in 2024. The total transaction value is composed of 51% buy-sell transactions, amounting to IDR 516.9 trillion, and 49% repo transactions, amounting to IDR 494.3 trillion.
IDX Development Director Jeffrey Hendrik stated that this achievement represents an important milestone for Indonesia’s financial market industry. “The achievement of a cumulative transaction value of IDR 1,000 trillion reflects the market participants’ trust in the integrity, efficiency, and reliability of SPPA. We would like to thank all market participants who have placed their trust in SPPA as the main platform for EBUS and Money Market transactions in Indonesia. We are committed to making SPPA the pool of liquidity for EBUS and Money Market trading in the country,” said Jeffrey.
Furthermore, Jeffrey added that this achievement is the result of contributions and collaboration among market participants and other stakeholders as part of the National Financial Market Development Roadmap, which supports the government’s efforts to build a modern and integrated money market.
“The IDX has received full support from the Financial Services Authority (OJK), Bank Indonesia (BI), and the Ministry of Finance of the Republic of Indonesia (Kemenkeu) specifically the Directorate General of Financing and Risk Management (DJPPR) and the Directorate General of Treasury (DJPb)—as well as from industry associations such as the Bond Dealers Association (Himdasun), the Money Market and Foreign Exchange Association (Apuvindo), and the Regional Development Bank Association (Asbanda) in various aspects of SPPA development and implementation,” Jeffrey explained.
The Indonesia Stock Exchange (IDX) as the developer and manager of the SPPA, not only focuses on technological, security, and collaboration needs but also ensures seamless integration for market participants. IDX also places emphasis on providing ease of access for market players to trade Debt Securities and Sukuk (EBUS) as well as Money Market instruments through straight-through-processing (STP) covering all stages from risk management to post-trade processes. SPPA is expected to become the main electronic trading platform for EBUS and Money Market instruments in Indonesia’s secondary market, serving the needs of the industry and stakeholders at the highest level of efficiency.
Through continuous innovation and the provision of increasingly effective and efficient transaction solutions, SPPA is expected to become a leading platform for market participants seeking integrated, fast, and reliable EBUS and Money Market transaction processes. In addition, the development of SPPA reflects the IDX’s commitment to strengthening the national financial market infrastructure, enhancing transparency, and expanding access for various financial institutions to conduct transactions more securely and efficiently.
