Devexperts said today (Tuesday) that Indonesia's commodity futures regulator has approved its white-label DXtrade platform. The approval allows the country's commodity futures and derivatives brokers to license the software.
The Commodity Futures Trading Regulatory Agency (Bappebti), which sits under Indonesia's Ministry of Trade, has approved only two trading platforms, according to Devexperts, which said DXtrade was cleared in August after a thorough review. The company did not name the other one.
London's trading industry is coming home!
Brokers need a Bappebti license to serve clients in Indonesia from inside the country, and foreign firms have been adding local units. AIMS opened a Jakarta office in May after securing a Bappebti license, following Plus500 and Doo Financial into the market.
A Second Asian Launch in a Week
The Indonesian news follows a US stock trading bundle for South Korean brokers that Devexperts announced on September 17, combining DXtrade, dxFeed market data and order execution under one contract.
- Devexperts Integrates Advanced Markets Liquidity Into DXtrade Platform
- Devexperts Updates DXcharts With AI Tool That Converts English Prompts to Indicators
- DXtrade Adds Automated Scalper Detection and A/B-Booking Tool via Gold-i Deal
In June, the company showed a dedicated crypto front-end for DXtrade that was still in demo, not general release. Spotware's cTrader and Match-Trade Technologies' Match-Trader also sell white-label platforms with crypto trading to brokers.
DXtrade covers stocks, commodities, futures, options, forex, funds and cryptocurrencies, according to Devexperts, which has built capital markets software since 2002.
Crypto Needs a Second Regulator
Devexperts plans to apply next to the Financial Services Authority (OJK) so it can serve Indonesia's digital asset market, said Charmaine Athaide, the company's managing director for Asia Pacific.
She said the Bappebti approval puts it in a strong position for that application. Devexperts sees significant potential in the Indonesian market, she added.
"We intend to seek approval from OJK in the coming months," she said.
The second application reflects a split in Indonesian oversight. Supervision of crypto assets and of financial derivatives such as stock indices and single stocks moved from Bappebti to OJK on January 10, 2025, while Bank Indonesia took over money market and foreign exchange derivatives.
OJK had said beforehand that crypto firms would have to pass through a regulatory sandbox before receiving a license.
Bappebti, which licenses and supervises market participants and exchanges, kept commodity futures trading, the warehouse receipt system and commodity auction markets. The DXtrade approval covers brokers in that commodity futures and derivatives segment, the company said.
