Technology partnership will further enhance overall resilience and integrity of
the exchange, while supporting the rapid deployment of new products and services

   Scalable trading platform will quadruple transaction capacity and support
                       development of Indonesian economy

NEW YORK and JAKARTA, Indonesia, June 17, 2024 (GLOBE NEWSWIRE) -- Nasdaq
(Nasdaq: NDAQ) and the Indonesia Stock Exchange (IDX) today announced an
expansion of their technology partnership which will see IDX upgrade its core
trading platform to Nasdaq's most advanced matching engine. The deal also
includes an extension of Nasdaq's market surveillance partnership with IDX, and
an agreement to enhance IDX's Index business to help foster a deeper and
sophisticated global capital markets ecosystem.
The agreement builds on Nasdaq's broad range of partnerships across the
Indonesian financial system. In addition to Nasdaq's long-standing relationship
with IDX, Nasdaq provides market surveillance technology to OJK, Indonesia's
Financial Services Authority, the core technology platform that underpins KSEI,
Indonesia's central securities depository, and its Calypso treasury solution to
Bank Indonesia, the country's central bank. Collectively, greater
interoperability across the fabric of the Indonesian financial system will
reduce overall complexity and friction, ultimately helping to create a more
efficient capital markets ecosystem.
The decision by IDX to modernize its underlying architecture is in line with the
strategic pillars set out by OJK to develop a robust, stable, and sustainable
capital market that can support the ongoing development of the Indonesian
economy.
Sunandar, Director of Information Technology and Risk Management at IDX said:
"With this trading system and technology infrastructure upgrade, we envisage
becoming more competitive and staying attractive for both domestic and
international investors. We believe this partnership will speed up the
modernization advancement of the Indonesia capital market while supporting
sustainable economic growth."
IDX has experienced a period of rapid growth over recent years with trading
volumes having increased 65% since 2019, while the total number of investors
trading on its exchange has grown by over 400% to 12.6 million. Today IDX has
921 companies listed on its exchange, an increase of 49% over the same period
and solidifying its position as the leader amongst ASEAN markets, driven by the
ongoing development of the Indonesian economy.
Nasdaq's modular and scalable platform will support IDX's continued ability to
serve Indonesia's capital market as its economy grows. The platform supports
trading in traditional asset classes, including equities, fixed income, foreign
exchange, and derivatives, as well as digital assets, providing the flexibility
to support IDX's objective of increasing the number of products and services it
offers to clients. In addition, by bringing flexible architecture to the Index
business IDX will be able to quickly design and launch new indices as growth
opportunities arise. Ultimately, the new platform will quadruple transaction
capacity whilst supporting a deterministic low latency trading experience.
Magnus Haglind, Head of Marketplace Technology at Nasdaq said: "Nasdaq is
playing a critical role at the heart of Indonesia's modernization story. We
welcome the opportunity to support Indonesia Stock Exchange's vision and
ambition to become a world-class exchange. By supporting the development of a
deep and sophisticated capital markets ecosystem in Indonesia, we can help
deliver growth and prosperity across the country and wider region."
Nasdaq's Financial Technology division provides mission-critical capital markets
and regulatory technology solutions to the financial services industry. As a
scaled platform partner, Nasdaq draws on deep industry experience and technology
expertise to help 3,500+ banks, brokers, regulators, financial infrastructure
operators, and buy-side firms solve their toughest operational challenges while
advancing industrywide modernization.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate
clients, investment managers, banks, brokers, and exchange operators as they
navigate and interact with the global capital markets and the broader financial
system. We aspire to deliver world-leading platforms that improve the liquidity,
transparency, and integrity of the global economy. Our diverse offering of data,
analytics, software, exchange capabilities, and client-centric services enables
clients to optimize and execute their business vision with confidence. To learn
more about the company, technology solutions, and career opportunities, visit us
on LinkedIn
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www.nasdaq.com (http://www.nasdaq.com).
About Indonesia Stock Exchange
IDX is the only stock exchange in Indonesia with main function is to create a
fair, orderly, and efficient capital market in Indonesia. IDX promotes
sustainable capital market through various initiatives and works closely with
all stakeholders to provide transparency and investor protection. As part of
Self-Regulatory Organization (SRO) to provide robust capital market
infrastructure in Indonesia, IDX is also supported by IDClear as Clearing and
Guarantee Institution or Central Counterparty (CCP) and KSEI, Indonesia Central
Securities Depository, as the Depository and Settlement Institution. To learn
more about IDX, visit our website www.idx.co.id (http://www.idx.co.id) or
official social media linktr.ee/indonesiastockexchange
(https://linktr.ee/indonesiastockexchange).
Media Contacts:
Andrew Hughes
+44 (0)7443 100896
Andrew.Hughes@nasdaq.com (mailto:Andrew.Hughes@nasdaq.com)
Kautsar Primadi Nurahmad
contactcenter@idx.co.id (mailto:contactcenter@idx.co.id)
-NDAQG-
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