Two New IDX Reforms After MSCI: Shareholders’ Affiliation Status to Be Disclosed

Jakarta, CNBC Indonesia — The Indonesia Stock Exchange (IDX) will announce two new initiatives to the public in the near future. IDX President Director Jeffrey Hendrik said the measures were a response to points raised by MSCI late last week, which shook Indonesia’s stock market.

Under the first initiative, the IDX will exclude all shares with a high concentration of ownership from the calculation of the Jakarta Composite Index (JCI). Those shares will remain available for trading as usual, but will no longer be included in the index’s movements.

“Those shares can still be traded, but they will not be included in the JCI calculation,” he said when met at the IDX building in Jakarta on Tuesday, 20 October 2026.

The second initiative concerns ownership transparency. In disclosures of shareholders with stakes of more than 1%, the IDX will add information indicating whether each shareholder is affiliated.

The IDX has yet to specify which shares will be excluded, the criteria for defining highly concentrated ownership, or when the policy will take effect.

“We certainly appreciate what MSCI has said, and it will certainly make us more focused on continuing these reforms,” he said.