Indonesia Stock Exchange Pushes Transparency Reforms to Bolster Stability

The exchange, working alongside the Indonesia Clearing and Guarantee Corporation and the Central Securities Depository, has mandated that listed companies reveal all shareholders holding stakes above 1%. These disclosures, coupled with mandatory reporting on ultimate beneficial owners exceeding 10%, are designed to align local governance with international benchmarks. To facilitate this shift, the IDX has launched a dedicated hotdesk for direct investor feedback and inquiries.

Despite wider market pressures, trading activity has surged. Average daily transaction values hit USD 1.44 billion, a 36.3% jump year-to-date, while total Single Investor Identification accounts reached 28.70 million. Retail investors now drive 52.5% of daily volume, signaling deep domestic engagement. Equity mutual fund subscriptions have also seen a sharp rise, netting IDR 21.98 trillion by April, nearly four times the volume recorded during the same period in 2025.

Central to this structural evolution is the phased implementation of Listing Regulation No. I-A. Currently, 61.8% of the 912 listed companies meet the revised minimum free-float requirements, which averaged 23.09% as of late March. For the remaining 323 companies, the IDX has granted extended transition periods running through 2029. IDX President Director Jeffrey Hendrik noted that these reforms represent a collective effort to leverage strong corporate fundamentals and secure the market's long-term competitive position for both local and international capital.