Patsystems has been chosen as preferred technology supplier for the new Indonesia Commodity and Derivatives Exchange, formed by Bappebti, the Commodities Futures Exchange Supervisory Board.

ICDX is meant to trade palm oil and gold futures and then launch other commodities such as coal, tin and cocoa. It has its own clearing house, ISI Clearing.

Patsystems will provide a complete exchange solution, including a trade matching engine, clearing and settlement platform, pre-trade risk management and front-end execution platform. ICDX could benefit from Patsystems’ global network of customers, numbering thousands of traders.