Businessicy – The Indonesia Commodity & Derivatives Exchange (ICDX) reported a total of 3,015,671 lots in gold futures trading during the first semester of 2024. Of this total, multilateral transactions accounted for 500,642 lots, involving contracts GOLDGR, GOLDUD, and GOLDUDMic.
Meanwhile, Alternative Trading System transactions reached 2,515,029 lots, with contracts XAUUSD10, XAUUSD12, XAUUSD14, and XAUUSDUD. ICDX President Director Fajar Wibhiyadi is optimistic that gold trading on the exchange will increasingly become a preferred investment choice for the public.
“For this reason, continuous education and literacy are crucial so that the public can fully understand gold trading on the exchange. It is essential for investors to grasp not only the potential profits. But also the associated risks,” he stated on Thursday (September 5, 2024).
He mentioned that gold trading on the exchange is expected to continue growing. According to Fajar, the key to this growth is educating the public on how to effectively utilize the exchange’s gold trading mechanisms.
“Gold is an attractive commodity, particularly for long-term investments. As an exchange, we will continue to develop gold futures contract products that meet public needs,” he added.
ICDX offers two mechanisms for gold trading. The first is futures gold trading, and the second is the Digital Physical Gold Market.
Futures gold contracts are traded on the exchange where buyers agree to purchase a specific amount of commodity at a predetermined price on a set future date.
In accordance with Indonesian Trade Minister Regulation No. 119 of 2018. Regarding General Policies for Digital Physical Gold Market Trading on Futures Exchange. Organized physical gold market conducted using electronic means facilitated by the Futures Exchange or electronic facilities owned by business actors for buying or selling gold. With ownership records maintained digitally.
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Previously, the Commodity Futures Trading industry has significant growth potential, which requires competent human resources.
Therefore, the Professional Development Program for Futures Brokers (P4WPB) is essential for industry participants.
This was conveyed by ICDX President Director Fajar Wibhiyadi during the P4WPB event held online on July 23-24, 2024.
“The P4WPB we organize is part of ICDX’s role as a Self-Regulatory Organization (SRO) in the Commodity Futures Trading industry. particularly concerning human resource preparation. We are confident that with personnel meeting competency standards. The industry will be driven to grow,” Fajar stated in an official release on Saturday (July 27, 2024).
Regarding P4WPB, ICDX revealed that in 2024, it has conducted three batches—May, June, and July—each with 60 participants. The fourth batch is scheduled for September.
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