Lembaga Sertifikasi Profesi Pasar Modal (LSP-PM)

What Lembaga Sertifikasi Profesi Pasar Modal (LSP-PM) does

Lembaga Sertifikasi Profesi Pasar Modal (LSP-PM) is Indonesia's first professional certification body dedicated to the capital market industry, established in 2015 under license from the Badan Nasional Sertifikasi Profesi (BNSP). The organization issues nationally and internationally recognized competency certifications across 24 schemes spanning 11 functional areas, including securities analysis, technical analysis, risk management (aligned to ISO 31000:2018), investment banking, equity sales, compliance, and fixed income analysis. On 2 August 2024, LSP-PM obtained Surat Tanda Terdaftar (STTD.LSP-02/MS.1/2024) from Otoritas Jasa Keuangan (OJK) for 9 mandatory certification schemes covering licensed roles such as WPPE, WAPERD, WPEE, and WMI — a regulatory milestone establishing LSP-PM as the dual-recognized body for both BNSP national competency standards and sector-specific financial regulator requirements.

LSP-PM's product surface includes both in-person competency assessment at registered Testing Venues (TUK) across multiple Indonesian cities and a BNSP-authorized remote assessment platform ("Asesmen Jarak Jauh," authorized by Decree KEP.2428/BNSP/XI/2023) covering 15 certification schemes via video conference. The technology stack comprises a certification management portal (sertifikasi.lsppm.com), an applications portal (apps.lsppm.com), and a user management system supporting registration, exam scheduling, and certificate issuance. The organization coordinates a network of 148+ assessors supporting competency evaluation.

LSP-PM generates revenue primarily through one-time per-attempt certification testing fees ranging from Rp 1,500,000 to Rp 2,500,000 (approximately $95–$158 USD) depending on the scheme, with certificates carrying 3-year validity that establishes renewal revenue. The go-to-market motion is institutionally driven through partnerships with 50+ universities, 30+ registered training institutions, and 10+ professional associations that channel candidates. Distribution occurs through remote assessment, in-person testing at TUK venues across cities including Jakarta, Bandung, Yogyakarta, Surabaya, Padang, and Malang, and via the training institution network. The customer base spans 25,192+ certified professionals working in securities firms, asset managers, pension funds, insurance companies, and public companies. Following POJK 11/POJK.02/2021, the entity operates as PT. Lembaga Sertifikasi Profesi Pasar Modal, owned by three professional associations (PROPAMI, AAEI, PPJKI).

Name

Lembaga Sertifikasi Profesi Pasar Modal (LSP-PM)

Legal name

PT. Lembaga Sertifikasi Profesi Pasar Modal

Website

https://lsppm.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Indonesia's first BNSP-licensed and OJK-registered professional certification body for the capital market industry, offering competency certification across 24 schemes spanning securities analysis, risk management, investment banking, and compliance to professionals across Indonesia.

Ownership category

akta.pro rank

Product category

Professional Certification Services

NAICS

Professional and Management Development Training (611430), Exam Preparation and Tutoring (611691), Testing Laboratories and Services (54138)

SIC

Services-Educational Services (8200), Services-Testing Laboratories (8734)

akta.pro primary industry

Credentialing, Certification Prep & Exam Training (BPACANAJ)

akta.pro secondary industries

Accounting & Finance Certification Prep (CPA, CMA, CFA, FRM) (EDANAIAD), Finance, Accounting & Risk (CFA/CPA/FRM) Certifications (EDAAANAD), Digital Assessment Platforms & Computer-Based Testing Authorities (EDADAFAK), Professional Licensure & Certification Exam Prep (Bar/CPA/NCLEX/PMP, etc.) (EDAGADAD)

Keywords

• Professional certification services
• Competency assessment programs
• Capital market licensing
• Financial certification bodies
• Skills competency testing

Headquarters

HQ city

Jakarta Selatan

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Certification and Competency Testing Fees: LSP-PM generates revenue primarily through competency assessment and testing fees charged to candidates. Each certification scheme has a specified test fee (e.g., Rp 1,500,000 for WPPE-PT and WAPERD, Rp 2,000,000 for WPPE-P Ekuitas and WPPE-P EBUS, Rp 2,500,000 for WPPE, WPEE, WMI, and Management Risk Level 5). These are one-time fees per certification attempt.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

LSP-PM conducts professional competency certification assessments for Indonesia's capital market industry under BNSP license, issuing nationally recognized certificates across 24 certification schemes in 11 areas including securities analysis, technical analysis, risk management, investment banking, equity sales, compliance, and fixed income analysis. Candidates can take exams at Testing Venues (TUK) nationwide or remotely via BNSP-authorized video conference assessment. Certification fees range from Rp 1,500,000 to Rp 2,500,000 per attempt based on qualification level, with 3-year certificate validity.

Product overview

Lembaga Sertifikasi Profesi Pasar Modal (LSP-PM) is Indonesia's first and leading certification body for capital market professionals, operating under BNSP (Badan Nasional Sertifikasi Profesi) license with 11 certification domains and 24 certification schemes. The organization offers a comprehensive portfolio of professional certifications including Securities Analysis (CSA/RSA), Technical Analysis (CTA/RTA), Risk Management (CRP/CRA), Investment Banking (CIB/RIB), Equity Sales (CESP/RESR), Compliance (CCP/RCP), Fixed Income Analysis (CFIA), and various WPPE/WAPERD/WPEE/WMI certifications registered with OJK. The certification framework follows SKKNI Pasar Modal (KEPMENAKER No. 233 Tahun 2019) and KKNI standards, with remote assessment capabilities authorized by BNSP. LSP-PM serves securities companies, asset management firms, pension funds, insurance companies, and public companies through its network of 30+ training institutions across Indonesia.

Differentiator

Problem solved

Functional benefit

Products and services

• Sertifikasi Analis Efek (Securities Analyst Certification)

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

13 partnerships are on record, tiered core and supporting.

• Perkumpulan Profesi Pasar Modal Indonesia (PROPAMI)coreStrategic or Co-development PartnerPROPAMI is a founding association of LSP-PM and became a direct shareholder of PT. LSP Pasar Modal following the organizational transformation mandated by POJK 11/POJK.02/2021. PROPAMI represents capital market professionals and supports the development of competency standards and certification schemes.
• Asosiasi Analis Efek Indonesia (AAEI)coreStrategic or Co-development PartnerAAEI was the initiating association that first organized capital market professional training and exams starting in 2012, building the Securities Analyst Standard Board (SASB) and later driving the establishment of LSP-PM through BNSP-licensed competency-based certification.
• Perkumpulan Praktisi Jasa Keuangan Indonesia (PPJKI)coreStrategic or Co-development PartnerPPJKI is a founding shareholder of PT. LSP Pasar Modal and supports LSP-PM's certification ecosystem as a professional association in the financial services industry.
• Asosiasi Analis Teknikal Indonesia (AATI)coreStrategic or Co-development PartnerAATI is one of the professional associations that participated in building LSP-PM, contributing to the development of competency standards and supporting certification for technical analysts in the capital market.
• Asosiasi Wakil Perantara Pedagang Efek Indonesia (AWP2EI)coreStrategic or Co-development PartnerAWP2EI was a founding association of LSP-PM that participated in building SKK (Standar Kompetensi Kerja) for securities broker representatives and supported the establishment of the certification body.
• Ikatan Pialang Efek Indonesia (IPEI)coreStrategic or Co-development PartnerIPEI was a founding association of LSP-PM, contributing professional expertise to the development of competency standards for the capital market certification ecosystem.
• Asosiasi Profesi Pasar Modal Indonesia (APPMI)coreStrategic or Co-development PartnerAPPMI was a founding association of LSP-PM, part of the consortium of 7 professional associations that established the certification body under BNSP in 2014-2015.
• Asosiasi Kepatuhan Anggota Bursa (AKAB)supportingStrategic or Co-development PartnerAKAB participated as a founding association of LSP-PM, contributing to the development of competency standards for compliance professionals in the capital market.
• Asosiasi Perencana Keuangan Indonesia (APERKEI)supportingStrategic or Co-development PartnerAPERKEI was one of the 7 founding professional associations that established LSP-PM, supporting competency standards development for financial planners in the capital market ecosystem.
• Badan Nasional Sertifikasi Profesi (BNSP)coreStrategic or Co-development PartnerBNSP is the national government body that grants official licensing to LSP-PM as an accredited professional certification body. LSP-PM operates under BNSP's oversight and framework, issuing BNSP-recognized competency certificates.
• Otoritas Jasa Keuangan (OJK)coreStrategic or Co-development PartnerOJK is the financial services regulatory authority that recognizes LSP-PM's competency certifications for mandatory roles (WPPE, WPEE, WMI) and has registered LSP-PM through STTD.LSP-02/MS.1/2024 for 9 mandatory certification schemes.
• Partner Universities (50+ campuses)coreStrategic or Co-development PartnerLSP-PM collaborates with over 50 university campuses including Universitas Indonesia, Universitas Gadjah Mada, ITB, Universitas Padjadjaran, IPB, Trisakti School of Management, and Universitas Trisakti to prepare students for capital market certifications and improve employability.
• Registered Training Institutions (Lembaga Pelatihan - 30+)coreChannel Partner/ Reseller/ DistributorLSP-PM works with 30+ registered training institutions across Indonesia (including Ajarika, CSA Institute, CLOP Academy, Muamalat Institute, TAP Kapital Indonesia) that provide pre-certification training and facilitate candidate enrollment.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Regional players

• Sharia Financial Certification Board (DKSS) / ASPM: OJK-recognized sharia capital market certification authority (Ahli Syariah Pasar Modal / ASPM). Adjacent certification body within Indonesia's capital market regulatory ecosystem, covering the sharia-specific licensed profession.
• EFFAS (European Federation of Financial Analysts Societies): European-based certification body for financial analysts and asset managers (CEFA, CIIA). Comparable as a credentialing body for capital market professionals, though operating primarily outside Indonesia's regulatory perimeter.

Direct peers

• LSP Asuransi Indonesia: Indonesian BNSP-licensed certification body for the insurance industry. Direct peer operating under the same BNSP/OJK oversight framework, serving a parallel regulated financial services vertical.
• LSP Perbankan (Lembaga Sertifikasi Profesi Perbankan): Indonesian BNSP-licensed professional certification body for the banking sector. Closest structural peer, operating under the same BNSP framework and serving an adjacent regulated financial vertical.
• GARP (Global Association of Risk Professionals): Issuer of the FRM (Financial Risk Manager) certification, directly comparable to LSP-PM's Risk Management certification scheme (CRP/CRA) and competing for the same risk professional candidates in Indonesia.

Emerging players

• IIA Indonesia (Institute of Internal Auditors Indonesia): Local chapter of the global IIA, providing CIA and related internal audit certifications relevant to capital market compliance functions. Comparable as a professional certification provider targeting financial services professionals in Indonesia.
• ICBRR (International Certified Banking Risk Specialist): International banking and risk certification provider with presence across Southeast Asia. Comparable to LSP-PM's Risk Management certification scheme and competes for risk professional candidates in the Indonesian financial sector.

Others

• ICVS (International Capital Markets Verification Standards): Thematically adjacent credentialing and standards body for capital market professionals. Comparable at the level of professional competency verification frameworks, though not a direct head-to-head competitor for Indonesian regulated certifications.
• BNSP-accredited LSPs consortium (multi-sector): The broader ecosystem of BNSP-licensed Lembaga Sertifikasi Profesi across Indonesian industries. Operationally comparable as parallel certification bodies, though serving non-financial sectors and not direct competitors for LSP-PM's candidates.

Broad incumbents

• CFA Institute: Global leader in investment and financial analysis certifications (CFA charter). Comparable as a professional credentialing body serving capital market professionals, though operating internationally and as a broader incumbent rather than Indonesia-specific regulator-recognized body.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/lsp_pasarmodal
• LinkedInlinkedin.com/company/lsppm

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Lembaga Sertifikasi Profesi Pasar Modal (LSP-PM)