Rules for the Mineral and Strategic Commodity Exchange: POJK 16/2026

The Financial Services Authority (Otoritas Jasa Keuangan, OJK) has issued Peraturan Otoritas Jasa Keuangan Nomor 16 Tahun 2026 tentang Penyelenggaraan Bursa Mineral dan Komoditas Strategis (OJK Regulation 16 of 2026 on the Operation of the Mineral and Strategic Commodity Exchange). Its preamble states that it implements Article 132A(3) of Law 4 of 2023 on the Development and Strengthening of the Financial Sector, as amended by Law 4 of 2026. It was signed in Jakarta on 17 September 2026 by Friderica Widyasari Dewi as Chair of the OJK Board of Commissioners; the held copy leaves the promulgation date blank. The regulation has 110 articles. Article 110 provides that it applies from 1 January 2027. It sits alongside POJK 15/2026, which sets the stages for moving oversight of the exchange to OJK.

Key Provisions

The market and its operators (Articles 1 to 3). Article 1 defines the exchange (BMKS) as an organised and integrated market system for trading strategic minerals and strategic commodities, including their derivatives. Under Article 2, its operators are the exchange company, a clearing house, an electronic custodian, exchange members (service users, trading intermediaries and other parties), warehouse managers, conformity assessment bodies and supporting professions. OJK supervises the exchange, the clearing house, the electronic custodian and trading intermediaries; the exchange itself supervises the other members, warehouse managers and conformity assessment bodies. Supporting professions must register with OJK.

Phased start (Articles 4 and 48). Article 4 provides that the exchange is set up in stages according to the readiness of institutions, market infrastructure, information technology systems and market participants. Article 48 leaves trading and its phasing to an OJK decision, which considers market infrastructure, risk management, financial system stability, user protection and market integrity.

Licensing and capital (Articles 8, 9, 12, 18 and 28). Anyone who wishes to operate trading in strategic minerals and commodities must obtain a business licence from OJK as an exchange (Article 8). The exchange must have paid-up capital of at least Rp1 trillion (Article 9). The clearing house and the electronic custodian each need paid-up capital of at least Rp500 billion (Articles 18 and 28). Article 12 requires the exchange to have at least three directors, caps the board of directors and the board of commissioners at seven members each, bars directors from holding other positions, and sets five-year terms.

Warehouses and quality checks (Articles 34 to 36 and 50 to 51). Warehouse managers need the exchange's approval and remain responsible for goods in their custody; that responsibility does not pass to the exchange or OJK (Article 35(3)). A commodity may be traded only after a conformity assessment body grants it tradable status, based on quality inspection, quantity verification and storage in an approved warehouse (Article 50). The electronic custodian then issues electronic proof of ownership (Article 51).

Trading and prices (Articles 42 and 52 to 57). Service users may trade directly or through a trading intermediary. Prices form through market mechanisms, and transaction prices may serve as the Indonesian Reference Price (Article 54). The exchange drafts the methodology for that price, which requires OJK approval and periodic review (Article 55), and OJK may order the methodology adjusted to protect market integrity (Article 57).

Market integrity (Articles 65 and 70). Article 65 prohibits any action that produces artificial or misleading trading conditions, prices or volumes. In certain conditions OJK may order the exchange to halt trading temporarily, restrict trading or adjust trading parameters (Article 70).

Derivatives and digital instruments (Articles 91 and 92). The exchange may trade digital financial instruments representing rights over the commodities, which must be backed by verifiable underlying assets, and may run derivatives trading supported by risk management, clearing, settlement, transaction supervision and contract rules.

Sanctions

Breaches attract administrative sanctions ranging from a written warning and fines to restriction or freezing of business, revocation of a licence or approval and revocation of individual licences (Article 39(3), repeated in later chapters). Article 105 states that OJK sanctions do not rule out action under the exchange's own rules, civil liability or criminal sanctions. Article 106 also subjects the exchange, the clearing house, the custodian and intermediaries to OJK rules on anti-money laundering, consumer protection, anti-fraud and personal data protection. OJK separately regulates the carbon exchange, whose trading rules were most recently amended by POJK 10/2026.

Read the official text of POJK 16/2026 in the issuing ministry's legal database.

Checked against the official text of POJK 16/2026 on 20 October 2026. This is not legal advice; report corrections to contact@crpg.id.

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