Structured Warrants Grow Rapidly, Transactions Reach Rp4.18 Trillion
The issuance of structured warrants in the Indonesian capital market has reached 679 series as of 16 September 2026, a substantial increase from the 13 series initially launched in 2022. The transaction value of structured warrants has also risen from Rp194 billion in 2022 to approximately Rp4.18 trillion as of September 2026.
Iding Pardi, Director of Development at the Indonesia Stock Exchange (IDX), stated that structured warrants have continued to evolve since their debut in 2022. The product has become one of the alternative investment instruments available to investors in the capital market.
According to Iding, education and socialisation are necessary to enhance investor understanding of capital market products, including structured warrants.
“Educational and socialisation activities, such as the one held today, play a vital role in increasing investor understanding and expanding awareness of capital market products,” said Iding Pardi.
Iding noted that structured warrants can be used by investors to implement investment strategies tailored to their specific objectives and risk profiles.
“For investors, structured warrants provide an alternative to implement various investment strategies according to their respective goals and risk profiles,” he added.
These developments were shared during the 2026 Indonesia Structured Warrant Day (HWTI), organised by the Indonesia Stock Exchange (IDX) alongside RHB Sekuritas Indonesia at the IDX Main Hall in Jakarta on Saturday (19/9/2026). The event coincided with the fourth anniversary of the introduction of structured warrants to the Indonesian capital market.
Kenneth Zhao, Head of Equity Derivatives at PT RHB Sekuritas Indonesia, stated that structured warrants possess several characteristics that investors can utilise for portfolio diversification.
“In short, there are several advantages for structured warrant investors, namely lower investment capital, the use of leverage, limited losses (restricted to the initial capital), the presence of liquidity providers (ensuring market liquidity), and cash payments at maturity (if the structured warrant is in-the-money),” said Kenneth.
Structured warrants were first introduced to the Indonesian capital market on 19 September 2022, with RHB Sekuritas Indonesia serving as the first issuer. Since then, the product has grown in terms of both the number of issuances and transaction activity in the secondary market.
To expand investor access, RHB Sekuritas Indonesia is collaborating with three securities firms as selling agents for structured warrants, namely Mirae Asset Sekuritas, Mandiri Sekuritas, and Trimegah Sekuritas.