The Indonesia Financial Services Authority (OJK) has issued two regulations establishing the transition and operating framework for the Strategic Minerals and Commodities Exchange. The measures implement OJK’s expanded statutory mandate and provide for regulatory and supervisory responsibility to transfer from the Commodity Futures Trading Regulatory Agency when the exchange begins operating on Jan. 1, 2027. The transition rule, effective Sept. 17, 2026, is intended to prevent regulatory gaps and limit operational disruption for existing market participants. The operating rule, effective Jan. 1, 2027, covers market participants, phased trading, transaction arrangements, governance, risk management, user protection and market integrity. It creates an integrated ecosystem for trading, clearing, guarantees, settlement and management of electronic ownership certificates, with requirements for transparency, orderly and fair trading, settlement certainty and risk controls.