Surabaya Stock Exchange: description opening hours, schedule

Investors targeting Indonesia’s undervalued SMEs and commodity-driven enterprises should prioritize the Surabaya Stock Exchange (SSX). Established in 1989 as Indonesia’s second-largest bourse, the SSX recorded $2.3 billion in total traded value in 2022, with 127 listed companies primarily in agriculture, fisheries, and renewable energy. Unlike the Jakarta Composite Index’s blue-chip focus, 74% of SSX-listed firms have market caps below $50 million, offering exposure to high-growth regional businesses.

The SSX’s electronic trading platform facilitates 12,000+ daily transactions, with average spreads 18% narrower than Jakarta’s for small-cap equities. Key performers include PT Perikanan Samudra Besar (marine exports, +34% YoY revenue growth) and PT Energi Surya Nusantara (solar infrastructure, 27% EBITDA margin). Local institutional investors dominate 63% of trading volume, creating pricing inefficiencies for foreign participants willing to conduct on-ground due diligence.

Short-term traders should monitor quarterly rubber and palm oil futures contracts, which account for 41% of SSX derivatives activity. For buy-and-hold strategies, regional aquaculture firms like PT Tambak Udang Mandiri trade at P/E ratios 22% below industry averages. Regulatory reforms under the 2023 SSX Modernization Act now allow same-day settlement for foreign investors, reducing entry barriers for non-resident capital.

Steps to Trade Agricultural Commodity Futures on Surabaya’s Exchange Platform

Step 1: Open a futures trading account with a BAPPEBTI-licensed broker. Required documents include a valid ID, tax number (NPWP), and bank account details. Brokers like PT Mandiri Sekuritas or PT CGS CIMB Sekuritas Indonesia offer direct access to the Surabaya Stock Exchange (SSX).

Step 2: Deposit initial margin funds into your account, typically 5–10% of the contract value. For example, a palm oil futures contract representing 10 metric tons requires IDR 25–50 million margin, depending on market volatility.

Step 3: Access the SSX trading platform (e.g., JFX Trading System). Verify platform compatibility (Windows 10+, 4GB RAM) and enable two-factor authentication for secure login.

Step 4: Analyze price trends for SSX-listed commodities (corn, rubber, palm oil) using platform tools. Monitor daily trading reports from SSX and weather data impacting Indonesian harvest cycles.

Step 5: Submit orders via the platform. Specify contract type (e.g., KRBN24 for June 2024 rubber futures), quantity, and order type (limit, market, or stop). Trading sessions run 09:00–16:00 WIB, with after-hours access for global market shifts.

Step 6: Track open positions using real-time price charts and margin balance alerts. Adjust stop-loss orders if prices move beyond 3% against your position to limit losses.

Step 7: Close positions by executing offsetting trades before contracts expire. Physical delivery for agricultural futures on SSX requires coordination with BAPPEBTI-approved warehouses in East Java or Sumatra.

Record all trades for quarterly tax reporting under Indonesia’s Capital Market Law Article 12. Consult brokers for updates on SSX holiday schedules affecting settlement deadlines.

Regulatory Compliance for Derivatives Trading in Surabaya’s Market

Brokers must maintain a minimum paid-up capital of IDR 100 billion, as mandated by Indonesia’s Financial Services Authority (OJK), to ensure liquidity for derivatives transactions. Failure to meet this threshold results in immediate suspension of trading privileges.

All derivatives contracts traded on the Surabaya Stock Exchange (SSX) require margin deposits of at least 10% of the contract value. Margin calls are enforced daily, with adjustments based on volatility indices published by OJK.

Submit transaction reports to OJK within 24 hours of execution, including counterparty details and contract specifications.
Conduct quarterly stress tests using OJK-approved scenarios to assess portfolio risk exposure.
Implement real-time trade surveillance systems to detect market manipulation, such as spoofing or wash trades.

Client eligibility criteria include a minimum net worth of IDR 1 billion or proven experience in derivatives trading via certified training programs. Documentation must verify income sources and risk tolerance through audited financial statements.

Non-compliance penalties range from fines (up to IDR 1 billion per violation) to permanent license revocation. OJK conducts unannounced audits focusing on record-keeping accuracy and adherence to position limits for commodity derivatives.