Jakarta, August 30, 2024 – Jakarta Futures Exchange (JFX) signed a Memorandum of Understanding (MOU) with Onyx Capital Group to develop new energy products. The new futures contracts will be jointly designed and managed. The MOU signing ceremony took place at the Grand Ballroom of Ritz-Carlton, Pacific Place, Jakarta, in conjunction with JFX’s 25th Anniversary celebration.
Through this MOU, JFX and Onyx Capital Group both committed to explore various programs, including joint development and management of new products related to the futures market. In its initial offering, JFX will launch an Oil Brent Index (OBI by ONYX), designed to be used by both the professional and retail markets. The OBI will be a continuous contract and published in ONYX Capital Group publication, The Officials. This partnership underlines both organizations’ dedication in fostering innovation, enhancing market efficiency, and creating value for industry stakeholders.
Stephanus Paulus Lumintang, Chief Executive Officer of JFX, commented, “We are pleased to sign this MOU with Onyx Capital Group, a leading player in the futures industry especially on oil and gas related products. We believe that Onyx Capital will play a pivotal role in bringing new products to JFX while creating a more vibrant futures market. This partnership is part of JFX’s ongoing efforts to expand its international network and towards solidifying its position as a leading futures exchange in Asia and represents a significant step forward in JFX commitment to develop Indonesia’s futures trading industry.”
Greg Newman, Group CEO Onyx Capital Group, stated, “ONYX is expanding and willing to bring its expertise and liquidity solutions to new markets. With our mission to digitise, democratise and scale the oil derivatives market, we are extremely pleased to work with JFX to bring products designed to satisfy the needs of the growing Indonesia market”
About Jakarta Futures Exchange (JFX)
Established in 1999, JFX is the oldest and largest futures commodity exchange in Indonesia, offering a secure and efficient trading platform. With a strong commitment towards innovation and market development, JFX serves both domestic and international traders, driving growth in Indonesia’s futures and physical commodities industry.
About Onyx Capital Group
At Onyx Capital Group, we house various divisions: Onyx Commodities, our trading arm, is the top global market maker in oil swaps, ensuring crucial liquidity. Onyx Capital Advisory, our services arm, offers unique data on oil swaps, supporting traders through brokerage and consultancy services. Our platform, Flux, enables digital trade with real-time market visibility. Rapid growth in the last five years positions Onyx to break barriers and provide accessible market solutions.
