Jakarta Futures Exchange

What Jakarta Futures Exchange does

Jakarta Futures Exchange (JFX), operating under the legal name PT Bursa Berjangka Jakarta, is Indonesia's first and largest commodities and derivatives exchange, established on August 19, 1999 under Law No. 32 of 1997 on Commodity Futures Trading. The company operates a multi-platform electronic trading infrastructure — anchored by JAFeTS NOW (multilateral), JFX Gold X (digital gold), ITMS Exchange (physical tin), PALN (foreign order routing), and the Trade Registration Server — supporting commodity futures, financial derivatives, forex, precious metals, and physical market trading. Multilateral products include Olein (palm oil), Robusta and Arabica coffee, Cocoa, Brent Crude Oil (MINIBRENT, developed with Onyx Capital), and Gold in multiple contract sizes; bilateral products cover indices, forex, single stocks, loco gold, energy, and precious metals; physical markets include tin (various purity grades) and digital gold. The exchange is supervised by Bappebti, OJK, and Bank Indonesia, with all trades cleared through PT Kliring Berjangka Indonesia (KBI), and the Ministry of Trade mandates that Indonesian tin exports route through JFX.

JFX generates revenue primarily through transaction and trading fees on multilateral, bilateral, and physical market contracts, supplemented by recurring membership fees from over 60 Bappebti-registered broker members and physical market participants. Trading is conducted exclusively through exchange member brokers — including Finex Bisnis Solusi Futures, Valbury Asia Futures, and Rifan Financindo Berjangka — meaning the general public participates as customers of these intermediaries rather than directly. Distribution also extends to international tin buyers (Glencore International AG, Mind ID Trading) and domestic tin producers (PT Timah Tbk) on the physical side, and to retail digital gold participants on JFX Gold X. Pricing of transaction fees and brokerage commissions is set by member firms rather than publicly disclosed by the exchange.

Go-to-market combines a regulated channel-partner model (broker members), with event-driven demand generation through JFX on Campus university partnerships, webinars, and industry events like the Indonesia Critical Minerals conference. The company holds ISO 27001 certification for information security, is led by President Director Yazid Kanca Surya, and serves a primarily Indonesian market with cross-border physical and financial product exposure.

Name

Jakarta Futures Exchange

Legal name

PT Bursa Berjangka Jakarta

Website

https://jfx.co.id

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Jakarta Futures Exchange (PT Bursa Berjangka Jakarta) is Indonesia's first and largest commodities and derivatives exchange, operating electronic multilateral, bilateral, and physical trading platforms — including JAFeTS NOW, JFX Gold X, and ITMS tin market — and serving broker members, commodity producers, and retail digital gold investors under Bappebti, OJK, and Bank Indonesia oversight.

Ownership category

akta.pro rank

Product category

Commodity and Derivatives Exchange

NAICS

Securities and Commodity Exchanges (523210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Commodity Derivatives Exchanges (Futures & Options on Commodities) (FSAFAMAG)

akta.pro secondary industries

Agricultural / Soft Commodities Derivatives Exchanges (FSAFABAF), Energy Commodities Exchanges (Crude Oil, Refined Products, Natural Gas, Power) (FSAFAMAC), Metals Derivatives Exchanges (Precious & Base Metals) (FSAFABAE)

Keywords

• Commodity futures exchange
• Derivatives trading platform
• Physical tin market
• Digital gold trading
• Electronic trading infrastructure

Headquarters

HQ city

Menteng

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction and Trading Fees: JFX generates revenue through transaction fees charged on futures contracts traded on its exchange, including multilateral products (Olein, Coffee, Cocoa, Gold), bilateral products (Forex, Index, Single Stock, Precious Metal, Energy), and physical markets (Tin, Digital Gold).
2. Membership Fees: Revenue from membership fees charged to exchange members including brokers, trading companies, and physical market participants (tin sellers, buyers, digital gold traders).

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Jakarta Futures Exchange operates Indonesia's first and largest commodities and derivatives exchange, providing multilateral futures contracts (olein, robusta coffee, arabica coffee, cocoa, gold, brent crude oil), bilateral products (forex, indices, single stocks, precious metals, energy), and physical markets for tin and digital gold. Trading is conducted through 60+ Bappebti-registered member brokers using the proprietary JAFeTS NOW electronic platform, with clearing handled by PT Kliring Berjangka Indonesia (KBI). The exchange serves as the mandated venue for Indonesian tin exports and offers regulated price discovery and hedging instruments for commodity and financial exposure.

Product overview

Jakarta Futures Exchange (JFX) operates a multi-platform ecosystem for commodity and derivatives trading. The core infrastructure consists of JAFeTS NOW (multilateral trading platform), JFX Gold X (digital gold platform), ITMS Exchange (physical tin market), and various bilateral trading systems. The exchange offers multilateral futures products including Olein (palm oil), Robusta Coffee, Arabica Coffee, Cocoa, Brent Crude Oil, and Gold futures in multiple contract sizes. Physical market products include tin with various purity grades. Bilateral products cover forex, indices, single stocks, energy, and precious metals. Supporting systems include Trade Registration Server (TRS) for transaction reporting and PALN System for foreign order routing.

Differentiator

Problem solved

Functional benefit

Products and services

• JAFeTS NOW Core multilateral trading transaction platform accessible via web and mobile application, enabling futures contract trading with real-time market access, order management, Trader Interface, Information Trading component, Administrator Interface, Surveillance Application, Clearing Interface, Data Vendor Interface, and Bappebti Interface. Used by exchange members and their registered customers for multilateral product trading.
• JFX Gold X Web-based digital gold trading platform connected to banks and gold depositories, enabling organized physical gold market transactions through electronic means with digital ownership records, direct fund connectivity with Bank Artha Graha Internasional, real-time depository monitoring, gold printing requests, and gold delivery location selection.
• ITMS Exchange (Indonesia Tin Market System) Physical tin bar market transaction platform accessible across notebooks, PCs, smartphones, and tablets, with real-time connectivity to clearing institution and warehouse systems, standardized security, and multi-browser support. Used by tin sellers (producers/exporters) and buyers (domestic and international) for physical tin trading.
• PALN System Foreign Order Distribution trading system for routing international stock orders, used by domestic futures brokers with PALN permits from Bappebti, connected in real time with overseas futures exchanges through foreign futures brokers.
• Trade Registration Server (TRS) Transaction Reporting System for order routing and trade registration, transmitting trade data electronically to clearing house PT Kliring Berjangka Indonesia (KBI) and relevant regulatory bodies.
• OLEIN Futures Contracts (OLE, OLE10, OLE01) Palm olein futures contracts in multiple sizes (20-ton OLE, 10-ton OLE10, 100-kilogram OLE01) serving as hedging instruments for cooking oil and palm oil derivatives, with 6-month trading periods and physical delivery options.
• Robusta Coffee Futures (RCF) Robusta coffee futures contract with 5-metric-ton unit size, one-year trading period, and physical delivery at registered warehouses near production centers, serving as a hedging instrument for Indonesia's robusta coffee industry.
• Arabica Coffee Futures (ACF) Arabica coffee futures contract with 2-metric-ton unit size, serving as a hedging instrument for specialty coffee businesses with delivery at registered warehouses near Arabica production centers.
• Cocoa Futures (CC5) 5-ton cocoa futures contract supporting national cocoa industry competitiveness through hedging facilities, with one-year transaction period and physical delivery at registered warehouses in production areas.
• Mini Brent Crude Oil (MINIBRENT) Rolling Brent Crude Oil periodic contract result of collaboration between JFX and Onyx Capital, using Oil Brent Index (OBI) as reference price, with 100-barrel contract size and cash settlement.
• Gold Futures Contracts (GOL, GOL250, GOL100, GOL10) Gold futures contracts in multiple sizes (1kg GOL, 250g GOL250, 100g GOL100, 10g GOL10) based on 99.99% purity LBMA-recognized gold bars, with maximum 3-month transaction periods and physical delivery options.
• Gold USD Rolling Contracts (GU1H10, GU1TF, KGEUSD) USD-denominated rolling gold contracts (100 oz fixed GU1H10, 10 oz GU1TF, 100 oz KGEUSD) referencing international gold trading with no maturity date, allowing exposure to global gold movements while trading in IDR.
• Physical Tin Market Products (TPURE099, TLEAD300, TLEAD200, TLEAD100, TLEAD050) Physical tin exchange products with various purity grades (99.99% pure tin TPURE099 and lead grades TLEAD300/TLEAD200/TLEAD100/TLEAD050 with different impurity limits) enabling export trade through the exchange per Ministry of Trade regulations.
• Bilateral Index Products Bilateral index products including DAX, FTSE, Hang Seng indices with various contract specifications and fixed or floating rate options for exposure to global equity indices.
• Bilateral Forex Products Bilateral forex products covering major currency pairs (EUR/USD, AUD/USD, AUD/JPY, etc.) with various contract specifications and fixed or floating rate options.
• Bilateral Single Stock Products Bilateral single stock products enabling trading of foreign stocks including Hong Kong-listed companies such as HSBC, Hang Seng Bank, and other international equities.
• Bilateral Loco Gold Products Rolling loco gold bilateral contracts for international gold price exposure without physical delivery.
• Bilateral Energy Products Bilateral energy products including Brent crude oil, WTI crude oil, natural gas, palladium, platinum, silver, and coal contracts with periodic rolling or daily features.
• Bilateral Precious Metal Products Bilateral precious metal products including palladium, platinum, and silver from NYMEX and SHFE exchanges, with daily rolling and fixed specification options.

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• PT Kliring Berjangka Indonesia (KBI)coreStrategic or Co-development PartnerKBI serves as the clearing institution for JFX futures transactions. All trades executed on JFX are cleared through KBI's clearing system, which provides risk management, margin collection, and settlement services. This partnership is fundamental to JFX's operations and regulatory compliance.
• Onyx CapitalcoreStrategic or Co-development PartnerJFX collaborated with Onyx Capital, one of the largest traders of oil-based derivative contracts globally, to develop the Rolling Brent Crude Oil Contract (MINIBRENT). Onyx Capital provides market expertise and liquidity for the Brent crude oil product.
• Bank Artha Graha InternasionalcoreTechnology or IntegrationBank Artha Graha Internasional serves as the banking partner for JFX Gold X digital gold platform. The bank provides direct fund connectivity for digital gold transactions, enabling participants to deposit and withdraw funds directly through the platform.
• Universitas Esa UnggulminorStrategic or Co-development PartnerEducational partnership through JFX on Campus program where JFX collaborates with the university and broker PT Finex Berjangka to educate students about futures trading industry.
• Universitas Katolik SoegijapranataminorStrategic or Co-development PartnerEducational partnership through JFX on Campus program in Semarang, collaborating with broker PT Valbury Asia Futures to introduce futures trading infrastructure to university students.
• Sekolah Tinggi Ilmu Ekonomi MalangkucecwaraminorStrategic or Co-development PartnerEducational partnership through JFX on Campus program in Malang, collaborating with broker PT Bestprofit Futures to educate students about futures trading and market infrastructure.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Bursa Malaysia Derivatives (BMD): Bursa Malaysia Derivatives operates the Malaysian derivatives exchange offering commodity and financial futures (crude palm oil, tin, rubber, gold, FKLI). Comparable to JFX as a regional ASEAN derivatives venue with similar product focus (palm oil, tin) and shared Asian commodities trading ecosystem. Director I Suresh Mookiah previously held leadership roles at BMD.
• Tokyo Commodity Exchange (TOCOM): TOCOM is Japan's primary commodity derivatives exchange trading precious metals (gold, silver, platinum, palladium) and energy futures. Comparable to JFX in metals and energy product offering, particularly relevant given JFX's Bilateral Precious Metal and Energy products.
• DGCX (Dubai Gold & Commodities Exchange): DGCX is a Middle Eastern derivatives exchange focused on gold, silver, and energy products. Comparable to JFX's precious metals and energy offerings (Bilateral Loco Gold, Precious Metals, Energy) as a regional venue specializing in hard commodity and energy derivatives.
• Multi Commodity Exchange of India (MCX): MCX is India's leading commodity derivatives exchange offering futures on gold, silver, crude oil, natural gas, and agricultural commodities. Comparable to JFX in product mix (metals, energy, agricultural futures) and in operating as a domestic commodity exchange serving a large emerging market.
• Asia Pacific Exchange (APEX): APEX is a Malaysia-based pan-Asian derivatives exchange offering commodity futures contracts across energy, metals, and soft commodities. Comparable to JFX in product breadth and ASEAN positioning, with shared focus on physical-delivery commodity futures. Director I Suresh Mookiah previously held leadership roles at APEX.
• B3 (Brasil, Bolsa, Balcão): B3 is Brazil's principal exchange operator offering commodity, FX, and equity derivatives (including agricultural commodities like coffee and soy). Comparable as an emerging-market multi-asset exchange with strong agricultural commodity focus, similar to JFX's palm oil, coffee, and cocoa products.

Broad incumbents

• Intercontinental Exchange (ICE): ICE operates global futures exchanges and clearing houses, notably the ICE Brent crude oil benchmark referenced in JFX's MINIBRENT contract. Comparable as a broad incumbent in commodity derivatives with deep energy and agricultural markets that compete for Asian trading flow.
• Singapore Exchange (SGX): SGX operates one of Asia's largest multi-asset exchanges with commodity and financial derivatives including rubber, palm oil, and FX. Comparable as a broader incumbent Asian derivatives venue that competes for regional trading flow and offers JFX-relevant commodity and forex products.
• CME Group: CME Group is the world's largest derivatives exchange operator offering futures and options across agricultural, energy, metals, FX, and interest rate products. Comparable as the global incumbent against which JFX benchmarks its commodity and FX product suite, including the Brent crude oil (MINIBRENT) contract developed with Onyx Capital.

Direct peers

• Indonesia Commodity and Derivatives Exchange (ICDX): ICDX is Indonesia's other major commodity and derivatives exchange, directly competing with JFX in physical tin trading (reference to "JFX and ICDX exchanges combined" tin volumes) and other commodity derivatives products. ICDX is the closest direct competitor given overlapping mandate, regulator, and product set in Indonesia.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xinstagram.com/jfx_ptbbj?igsh=MWMzcHIybnE2Z2h2eA%3D%3D&utm_source=qr
• YouTubeyoutube.com/@JFXChannel
• LinkedInlinkedin.com/company/jakarta-futures-exchange-jfx-
• Instagraminstagram.com/jfx_ptbbj

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jakarta Futures Exchange