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Indonesia Stock Exchange moves toward demutualization under new OJK rules
The Indonesia Stock Exchange (IDX) is undergoing significant structural and regulatory changes. The Financial Services Authority (OJK) has issued Regulation Number 13 of 2026, which establishes the legal framework for the demutualization of the IDX. This transition will shift the exchange from a member-owned structure to one where ownership can be held by individuals and Indonesian legal entities. To maintain independence and prevent dominance, the regulation caps direct or indirect ownership at 5 percent and prohibits any single party from controlling more than 50 percent of the exchange.
This demutualization process may allow the state investment agency, Danantara, to acquire a stake in the exchange. Additionally, the regulation opens possibilities for Bank Indonesia and the Ministry of Finance to become shareholders.
Separately, the IDX announced upcoming changes to trading rules. Starting September 28, 2026, the minimum stock price will be reduced from Rp 50 to Rp 1. Furthermore, the Auto Rejection Bawah (ARB) limit is scheduled to expand to 35 percent effective January 1, 2027.
In recent market activity, the Jakarta Composite Index (IHSG) has faced downward pressure, characterized by recent volatility and net selling by foreign investors. Market participants are closely monitoring the upcoming Bank Indonesia Governor's Meeting to determine potential interest rate directions.
Entities
Bank Central Asia · Bank Indonesia · Bank of Japan · Bursa Efek Indonesia · Danantara · Federal Reserve · Hasan Fawzi · Indeks Harga Saham Gabungan · Indonesia Stock Exchange · MNC Sekuritas · Otoritas Jasa Keuangan · PT Indo Premier Sekuritas
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] No shareholder is permitted to control more than 50 percent of the exchange, directly or indirectly. www.viva.co.id
- [● 4 SOURCES] The regulation provides the legal basis for the demutualization of the Indonesia Stock Exchange. mediaasuransinews.co.id · www.viva.co.id · www.businesstimes.com.sg
- [● 3 SOURCES] The regulation became effective on September 17, 2026. mediaasuransinews.co.id · www.viva.co.id
- [● 4 SOURCES] Demutualization will change IDX ownership from a member-only structure to one that can be owned by individuals and Indonesian legal entities. mediaasuransinews.co.id · www.viva.co.id · www.businesstimes.com.sg
- [● 4 SOURCES] OJK issued Regulation Number 13 of 2026 regarding Shareholders of the Indonesia Stock Exchange (IDX). mediaasuransinews.co.id · www.viva.co.id · www.businesstimes.com.sg
- [○ 1 SOURCE] The minimum stock price will be lowered from Rp 50 to Rp 1 starting September 28, 2026. katadata.co.id
- [● 2 SOURCES] Direct or indirect ownership of the IDX is capped at 5 percent. www.businesstimes.com.sg
- [○ 1 SOURCE] The Indonesia Stock Exchange will increase the Auto Rejection Bawah (ARB) limit to 35 percent starting January 1, 2027. katadata.co.id