OJK Reg. 16/2026 Requires TIN for Commodity Exchange Licence
JAKARTA, DDTCNews - The Financial Services Authority (OJK) requires a company's taxpayer identification number (TIN) in an application for a business licence as an administrator of the Strategic Mineral and Commodity Exchange (Bursa Mineral dan Komoditas Strategis/BMKS in Indonesian).
The requirement is set out in OJK Regulation (OJK Reg.) 16/2026 on the Administration of the Strategic Mineral and Commodity Exchange, which takes effect on 1 January 2027. Under the regulation, an application for a business licence as an exchange must be accompanied by a number of documents, including the company's TIN.
"Exchange is a limited liability company that obtains a business licence from the Financial Services Authority to administer trading in strategic minerals and strategic commodities, including their derivatives," reads Article 1 number 4 of OJK Reg. 16/2026, cited on Monday (28/9/2026).
In addition to the TIN, Article 8 of OJK Reg. provides that an applicant must submit the company's articles of association, financial projections for 3 years and a 3-year activity plan. The applicant must also submit an organisational structure, communication facilities, a training programme to be carried out and a list of candidates for the board of directors and board of commissioners.
The TIN requirement also applies to applicants for a business licence as a clearing institution (lembaga kliring/LK in Indonesian) and electronic custodian institution (lembaga kustodian elektronik/LKE in Indonesian) in the BMKS.
OJK Reg. 16/2026 is the regulation governing the administration of the BMKS, including permit requirements for institutions performing exchange, clearing and electronic custodian functions.
The regulation was enacted by OJK Board of Commissioners Chairperson, Frederica Widyasari Dewi, on 17 September 2026 and takes effect on 1 January 2027.
The plan to establish the BMKS was first raised in President Prabowo Subianto's draft state budget speech for 2027 on 14 August 2026. The establishment of the exchange forms part of the government's efforts to strengthen Indonesia's position in commodity trading.
The establishment of the strategic mineral and commodity exchange also continues from the implementation of the single-window export policy through PT Danantara Sumberdaya Indonesia (DSI).
Prabowo considers that Indonesia, as one of the leading producers of a number of commodities, should not merely be a place of production but should also play a role in setting prices for those commodities. The government, therefore, wishes to establish an exchange that can serve as a commodity trading venue whilst also establishing the price benchmark.
To realise the BMKS, Sarjito has also been officially inaugurated as the OJK's chief executive supervisor of the strategic mineral and commodity exchange for the 2026–2031 term. (dik)