RRI.CO.ID, Jakarta – The Indonesian Financial Services Authority (OJK) aims to implement regulations on the demutualization of the Indonesia Stock Exchange (IDX) in the third quarter of 2026, with the draft regulation (RPOJK) now in its final stages.

OJK’s Chief Executive for Capital Market Supervision, Hasan Fawzi, said on Tuesday, August 4, that the draft regulation (RPOJK) is being completed as a follow‑up to Law No. 4/2026, which reshapes IDX’s ownership structure.

Under the new framework, IDX shares may be owned by both individuals and Indonesian legal entities, opening opportunities not only for exchange members but also for external parties.

“This reflects the shift from a mutual, membership‑based exchange to a demutualized, profit‑oriented institution,” Hasan explained, as quoted by Antara, adding that the change is designed to enhance investor interest and strengthen IDX’s role in advancing the capital market.

The demutualization scheme is expected to boost IDX’s appeal to strategic investors and potentially pave the way for the exchange to become a publicly listed company in the future.

Despite the structural changes, Hasan emphasized that IDX’s core functions will remain intact. “Its role as a self‑regulatory organization and provider of capital market infrastructure must continue. Independence will be a guiding principle to balance regulatory and business functions,” he said.

The upcoming regulation will cover changes in legal form, shareholding structure, separation of ownership and membership rights, governance, division of regulatory and commercial functions, share transfers, risk management, infrastructure, and fee mechanisms.

Hasan noted that decisions on share transfers after demutualization will rest with shareholders, but all ownership changes must comply with prevailing laws and OJK requirements.

With the new rules, OJK aims to modernize Indonesia’s capital market governance, strengthen investor confidence, and align IDX with global best practices. (Gusti Panji)