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Peraturan Otoritas Jasa Keuangan 16/2026Regulation
Full titlePeraturan Otoritas Jasa Keuangan Nomor 16 Tahun 2026 tentang Penyelenggaraan Bursa Mineral dan Komoditas Strategis
CitationPOJK 16/2026
JurisdictionIndonesia
Enacted byBoard of Commissioners of the Financial Services Authority
Signed17 September 2026
Promulgated17 September 2026
Effective1 January 2027
ImplementsPasal 132A(3) of Undang-Undang 4/2023 on the development and strengthening of the financial sector, as amended by Undang-Undang 4/2026

Peraturan Otoritas Jasa Keuangan 16/2026 (Peraturan Otoritas Jasa Keuangan Nomor 16 Tahun 2026 tentang Penyelenggaraan Bursa Mineral dan Komoditas Strategis) is the regulation of Indonesia's Financial Services Authority (Otoritas Jasa Keuangan, OJK) that sets the rules for operating the Mineral and Strategic Commodity Exchange (Bursa Mineral dan Komoditas Strategis, BMKS): its operators and their licensing, trading, price formation, settlement, risk management, user protection and supervision. It belongs to financial sector regulation in Indonesia and concerns markets covered by mining and energy regulation and trade and commodity regulation.[1][2]

The regulation was signed by the Chair of the OJK Board of Commissioners on 17 September 2026, which OJK also lists as its date of promulgation, and it applies from 1 January 2027.[3][4] It was issued on the same day as POJK 15/2026, which phases the transfer of the exchange's regulation and supervision from the Commodity Futures Trading Supervisory Agency to OJK from that date.[5][6]

Its 110 articles separate the exchange as a market system from the exchange company that operates it, require OJK business licences and minimum paid-up capital for the exchange, its clearing house and its electronic custodian, and leave warehouses and quality-assessment bodies to approval by the exchange.[7][8][9] Prices formed on the exchange may serve as an Indonesian Reference Price under a methodology approved by OJK, and OJK may halt or restrict trading.[10][11] Breaches attract administrative sanctions, without prejudice to civil or criminal liability.[12][13]

Background

The preamble states that the regulation implements Pasal 132A(3) of Undang-Undang 4/2023 on the development and strengthening of the financial sector, as amended by Undang-Undang 4/2026.[1:1] The general elucidation describes the exchange as an organised and integrated market system for trading strategic minerals and strategic commodities, including derivatives, regulated and supervised by OJK. It explains that the exchange (BMKS) is the market system, while the Bursa is the legal entity that operates its trading function, and lists as the exchange's purposes forming an Indonesian Reference Price, supporting downstream processing (hilirisasi) and national industrialisation, competitiveness and economic resilience, market integrity and greater added value from natural resources and commodities.[14]

The elucidation also states that the regulation is confined to transactions and to the infrastructure directly supporting them, and is not intended to take over the authority of other ministries, agencies or authorities over matters outside trading on the exchange. It anticipates spot transactions settled by physical delivery and derivative transactions settled in cash or by delivery.[14:1] Pasal 1 defines strategic minerals as minerals of high economic value or strategic importance for the defence industry, and strategic commodities as commodities of high economic value or strategic importance for the national interest, in each case as designated under other legislation.[2:1]

Operators and licensing

Pasal 2 lists the operators of the exchange: the exchange company, a clearing house (Lembaga Kliring), an electronic custodian (Lembaga Kustodian Elektronik), exchange members (service users, trading intermediaries and other parties), warehouse managers, conformity assessment bodies (Lembaga Penilai Kesesuaian) and supporting professions. OJK supervises the exchange, the clearing house, the electronic custodian and trading intermediaries; the exchange supervises the other members, warehouse managers and conformity assessment bodies; and supporting professions, which the elucidation says include public accountants, notaries and legal consultants, must register with OJK.[7:1] Pasal 4 provides that the exchange is established in stages according to the readiness of institutions, market infrastructure, information systems and participants, from formation and preparation through trading to product and ecosystem development.[15]

Anyone wishing to operate trading in strategic minerals and commodities, including derivatives, must obtain a business licence from OJK as an exchange (Pasal 8), with paid-up capital of at least Rp1 trillion (Pasal 9). The clearing house and the electronic custodian each need an OJK business licence and paid-up capital of at least Rp500 billion.[8:1][16] Each of the three must have at least three directors and no more than seven directors and seven commissioners, appointed for five-year terms, with directors barred from holding any other position; changes to the boards and to their articles or rulebooks require OJK approval.[17] The exchange must maintain governance, risk management, compliance, internal audit and an independent market surveillance function.[18]

Warehouse managers need the exchange's approval and remain responsible for goods in their custody, a responsibility that does not pass to the exchange or to OJK. Conformity assessment bodies, which must be Indonesian legal entities, examine quality and quantity with the exchange's approval.[9:1] Trading participants act as exchange members; service users may trade directly or through a trading intermediary, which must hold an OJK licence and act in good faith, putting the interests of service users first.[19]

Trading, prices and settlement

Pasal 48 leaves trading, and its phasing, to a decision of OJK, taking into account the readiness of market infrastructure and risk management, financial system stability, protection of service users and market integrity.[20] A mineral or commodity may be traded only after a conformity assessment body grants it tradable status, based on quality inspection, quantity verification, storage in an approved warehouse and administrative requirements (Pasal 50). The elucidation states that tradable status does not establish ownership and does not remove obligations under the laws on ownership, origin, transport and trade of the goods.[21] The electronic custodian then issues electronic proof of ownership (Pasal 51).[21:1]

Prices form through market mechanisms, and transaction prices may be used as the Indonesian Reference Price (Harga Acuan Indonesia) in accordance with the laws and regulations. The exchange drafts the methodology for that price, which requires OJK approval and periodic review, and OJK may order the methodology adjusted to protect market integrity.[10:1] Settlement is carried out through the clearing house, which must have a mechanism for handling settlement failures.[22]

Market integrity and risk management

Pasal 65 prohibits any action that creates artificial or misleading trading conditions, prices or volumes. The exchange must monitor all transactions, detect and deal with market manipulation, monitor positions for concentration, and report indications of breaches to OJK; in certain conditions OJK may order it to halt trading temporarily, restrict trading or adjust trading parameters.[11:1] Operators must apply risk management, including information-technology risk management, and keep a business continuity plan and a disaster recovery centre; the exchange, the clearing house and the custodian must record every transaction electronically.[23]

The exchange may trade digital financial instruments representing rights over strategic minerals and commodities, which must be backed by underlying assets that can be verified and recorded in its system, and may run derivatives trading supported by risk management, clearing, settlement, supervision and contract rules; new products need OJK approval.[24] Operators must apply policies on user protection, covering accurate information, fair treatment, data protection, complaints and dispute settlement, and on conflicts of interest.[25]

Supervision and sanctions

OJK regulates and supervises the exchange, may request data, documents and information and access systems, and may order the exchange, the clearing house or the custodian to take action where conditions could disrupt market integrity, settlement or financial stability.[26] Successive chapters attach administrative sanctions ranging from a written warning and fines to restriction or freezing of business, revocation of licences or approvals and revocation of individual licences.[12:1] OJK may announce sanctions publicly, and its sanctions do not exclude action under the exchange's own rules, civil liability or criminal sanctions.[27] The exchange, the clearing house, the custodian and trading intermediaries must also comply with OJK rules on anti-money laundering, consumer protection, anti-fraud strategy and personal data protection.[28] OJK may coordinate with domestic and foreign authorities and may adopt different policies on particular considerations.[29]

Relationship to other instruments

The elucidation refers to a Presidential Regulation on the exchange among the legislation governing share ownership of the exchange.[30] OJK separately regulates the carbon exchange, whose trading rules were amended by POJK 10/2026.[31] Exports of designated strategic natural-resource commodities are governed by PP 24/2026, under which they may be exported only by a designated state-owned enterprise.[32]

CRPG's regulatory tracker published an account of the regulation on 20 October 2026.[33]

Part of a series on Mining and energy regulation in Indonesia
MK 160/PUU-XXIII/2025 · MK 184/PUU-XXIII/2025 · MK 202/PUU-XXIII/2025 · Environmental carrying capacity in Indonesia · Kepmen ESDM 344.K/MB.01/MEM.B/2025 · Merkuri · Permen ESDM 1/2023 · Permen ESDM 1/2026 · Permen ESDM 10/2026 · Permen ESDM 12/2017 · Permen ESDM 13/2012 · Permen ESDM 14/2012 · Permen ESDM 2/2026 · Permen ESDM 3/2026 · Permen ESDM 4/2026 · Permen ESDM 5/2026 · Permen ESDM 50/2017 · Permen ESDM 6/2026 · Permen ESDM 7/2026 · Permen ESDM 8/2025 · Permen ESDM 8/2026 · Permen ESDM 9/2026 · Permenhut 28/2025 · PMK 3/2025 · PMK 64/2026 · Permen LH 19/2010 · Permen LH 9/2006 · Permen LHK 15/2019 · Permen LHK 5/2022 · Permendag 46/2025 · POJK 15/2026 · POJK 16/2026 · PP 24/2026 · PP 33/2023 · PP 40/2025 · PP 79/2014 · Perpres 112/2022 · Perpres 169/2024 · Perpres 22/2017 · Perpres 26/2026 · Perpres 55/2019 · Perpres 94/2025 · Perpres 96/2024 · Serayu-Opak water accounting pilot · Water tenure
Identifiers Know ID K283 · Work URI /akn/id/act/pojk/2026/16 · RegVault POJK_16_2026
Categories Agency regulations of Indonesia · Financial regulation in Indonesia · Trade law of Indonesia
What links here (3)

References

  1. [P] Peraturan Otoritas Jasa Keuangan Nomor 16 Tahun 2026 tentang Penyelenggaraan Bursa Mineral dan Komoditas Strategis, preamble (Menimbang: implementing Pasal 132A ayat (3) of Undang-Undang Nomor 4 Tahun 2023 as amended by Undang-Undang Nomor 4 Tahun 2026; Mengingat: Undang-Undang 21/2011 and Undang-Undang 4/2023, each as amended by Undang-Undang 4/2026, LN 2026/62, TLN 7180). regulation_id POJK_16_2026. ↩︎ ↩︎

  2. [P] POJK 16/2026, Pasal 1 angka 1–4 and 13. regulation_id POJK_16_2026. ↩︎ ↩︎

  3. [P] POJK 16/2026, Pasal 110 (in force from 1 January 2027) and closing formula (Ditetapkan di Jakarta pada tanggal 17 September 2026, signed by the Chair of the OJK Board of Commissioners). The held copy leaves the date of promulgation and the Lembaran Negara number blank. regulation_id POJK_16_2026. ↩︎

  4. [P] "POJK Nomor 16 Tahun 2026 tentang Penyelenggaraan Bursa Mineral dan Komoditas Strategis", OJK regulation page: ditetapkan and diundangkan 17 September 2026, berlaku 1 January 2027. https://ojk.go.id/id/regulasi/Pages/POJK-Nomor-16-Tahun-2026-tentang-Penyelenggaraan-Bursa-Mineral-dan-Komoditas-Strategis.aspx ↩︎

  5. [E] "OJK Terbitkan Dua POJK Mengenai Bursa Mineral dan Komoditas Strategis", OJK press release SP 171/DKPU/OJK/IX/2026, 18 September 2026 (in Indonesian). https://ojk.go.id/id/berita-dan-kegiatan/siaran-pers/Pages/OJK-Terbitkan-Dua-POJK-Mengenai-Bursa-Mineral-dan-Komoditas-Strategis.aspx ↩︎

  6. [P] Peraturan Otoritas Jasa Keuangan Nomor 15 Tahun 2026, Pasal 3 and closing formula (Ditetapkan di Jakarta pada tanggal 17 September 2026). regulation_id POJK_15_2026. ↩︎

  7. [P] POJK 16/2026, Pasal 2 ayat (1)–(4), with the elucidation of Pasal 2 ayat (4). regulation_id POJK_16_2026. ↩︎ ↩︎

  8. [P] POJK 16/2026, Pasal 8 ayat (1) and Pasal 9 ayat (1) (paling sedikit Rp1.000.000.000.000,00). regulation_id POJK_16_2026. ↩︎ ↩︎

  9. [P] POJK 16/2026, Pasal 34, Pasal 35 ayat (1)–(3) and Pasal 36 ayat (1)–(4). regulation_id POJK_16_2026. ↩︎ ↩︎

  10. [P] POJK 16/2026, Pasal 53, Pasal 54, Pasal 55 ayat (1)–(3) and Pasal 57. regulation_id POJK_16_2026. ↩︎ ↩︎

  11. [P] POJK 16/2026, Pasal 63–66, Pasal 68 and Pasal 70. regulation_id POJK_16_2026. ↩︎ ↩︎

  12. [P] POJK 16/2026, Pasal 39 ayat (3), repeated in Pasal 47, 71, 81, 89, 95, 100 and 107. regulation_id POJK_16_2026. ↩︎ ↩︎

  13. [P] POJK 16/2026, Pasal 105 huruf a–c. regulation_id POJK_16_2026. ↩︎

  14. [P] POJK 16/2026, General Elucidation (Penjelasan Umum). regulation_id POJK_16_2026. ↩︎ ↩︎

  15. [P] POJK 16/2026, Pasal 4 ayat (1) and (2). regulation_id POJK_16_2026. ↩︎

  16. [P] POJK 16/2026, Pasal 14 ayat (2) and Pasal 18 (clearing house, paling sedikit Rp500.000.000.000,00); Pasal 24 ayat (2) and Pasal 28 (electronic custodian, the same amount). regulation_id POJK_16_2026. ↩︎

  17. [P] POJK 16/2026, Pasal 12 and 13 (exchange), Pasal 22 and 23 (clearing house) and Pasal 32 and 33 (electronic custodian). regulation_id POJK_16_2026. ↩︎

  18. [P] POJK 16/2026, Pasal 5, Pasal 6 and Pasal 7. regulation_id POJK_16_2026. ↩︎

  19. [P] POJK 16/2026, Pasal 40, Pasal 42 ayat (1), Pasal 43 ayat (1) and Pasal 45. regulation_id POJK_16_2026. ↩︎

  20. [P] POJK 16/2026, Pasal 48 ayat (1) and (2). regulation_id POJK_16_2026. ↩︎

  21. [P] POJK 16/2026, Pasal 50 ayat (1) and (2), with the elucidation of Pasal 50 ayat (1), and Pasal 51. regulation_id POJK_16_2026. ↩︎ ↩︎

  22. [P] POJK 16/2026, Pasal 60 and Pasal 62 ayat (1). regulation_id POJK_16_2026. ↩︎

  23. [P] POJK 16/2026, Pasal 72, Pasal 76, Pasal 77 and Pasal 79. regulation_id POJK_16_2026. ↩︎

  24. [P] POJK 16/2026, Pasal 90 ayat (1), Pasal 91, Pasal 92 ayat (1) and (2) and Pasal 93. regulation_id POJK_16_2026. ↩︎

  25. [P] POJK 16/2026, Pasal 83 ayat (1) and (2), Pasal 87 and Pasal 88. regulation_id POJK_16_2026. ↩︎

  26. [P] POJK 16/2026, Pasal 96, Pasal 98 ayat (1) and Pasal 99. regulation_id POJK_16_2026. ↩︎

  27. [P] POJK 16/2026, Pasal 103 and Pasal 105. regulation_id POJK_16_2026. ↩︎

  28. [P] POJK 16/2026, Pasal 106. regulation_id POJK_16_2026. ↩︎

  29. [P] POJK 16/2026, Pasal 108 ayat (1) and Pasal 109. regulation_id POJK_16_2026. ↩︎

  30. [P] POJK 16/2026, elucidation of Pasal 11 ("antara lain Peraturan Presiden mengenai bursa mineral dan komoditas strategis"). regulation_id POJK_16_2026. ↩︎

  31. [P] Peraturan Otoritas Jasa Keuangan Nomor 10 Tahun 2026 tentang Perubahan atas Peraturan Otoritas Jasa Keuangan Nomor 14 Tahun 2023 tentang Perdagangan Karbon melalui Bursa Karbon, regulation_id POJK_10_2026. ↩︎

  32. [P] Peraturan Pemerintah Nomor 24 Tahun 2026 tentang Tata Kelola Ekspor Komoditas Sumber Daya Alam Strategis, Pasal 3 ayat (1). regulation_id PP_24_2026. ↩︎

  33. [E] "Rules for the Mineral and Strategic Commodity Exchange: POJK 16/2026", CRPG regulatory tracker, crpg.id, 20 October 2026. https://crpg.id/rules-for-the-mineral-and-strategic-commodity-exchange-pojk-16-2026/ The post carries a notice that it is AI-generated; it is cited for the record of the development, not for its legal content. ↩︎