IDX’s SPPA Enables Repo Transactions Using SBSN as the Underlying Asset to Promote the Development of Indonesia’s Debt and Money Markets

IDX launched a new Repo transaction service with Sharia Government Securities. The aim is to improve liquidity in the SBSN market and enhance Indonesia’s financial market by increasing Repo transactions.

PT Bursa Efek Indonesia (Indonesia Stock Exchange/IDX), through the Alternative Market Operator System (SPPA), has officially launched a new service featuring Repurchase Agreement (Repo) transactions with Sharia Government Securities (SBSN) as the underlying instrument, effective today, Monday (6/7). This new feature is the result of collaboration between IDX and the Ministry of Finance of the Republic of Indonesia to enhance the liquidity of the SBSN market while supporting the deepening of Indonesia’s financial market through strengthened electronic trading infrastructure.

The development of this feature is expected to stimulate Repo transaction activity involving SBSN, which has remained relatively limited. Throughout 2025, the total value of interdealer SBSN Repo transactions remained below IDR1 trillion, significantly lower than interdealer Government Bond (SUN) Repo transactions, which exceeded IDR2,500 trillion. To address this gap, IDX has introduced the SBSN Repo feature through SPPA, which is expected to serve as a catalyst for improving liquidity in the secondary SBSN market.

Through this enhancement, SPPA service users can now conduct Repo transactions using SBSN as the underlying instrument. The facility provides broader funding alternatives for commercial banks, regional development banks, and other institutional market participants in managing short-term funding requirements, liquidity, and investment portfolios.

Source : IDX’s SPPA Facilitates Repo Trading with SBSN as the Underlying Instrument to Support the Deepening of Indonesia’s Debt and Money Markets