JAKARTA, November 3, 2025: S&P Dow Jones Indices (“S&P DJI”), the world’s leading index provider, and the Indonesia Stock Exchange (“IDX”) today announced a collaboration agreement to create and launch three co-branded equity indices covering IDX-listed stocks, including ESG, Dividend, and Shariah-compliant indices.
The agreement marks S&P DJI’s first-ever collaboration with IDX to offer innovative indices that measure the performance of various segments of the Indonesian market. The partnership encompasses the development, publication and distribution of a suite of indices designed for investors seeking opportunities in Indonesia. Furthermore, S&P DJI will utilize its global presence and robust licensing capabilities to market and license a selection of IDX indices worldwide.
The newly launched co-branded indices include:
- S&P/IDX Indonesia ESG Tilted Index
- S&P/IDX Indonesia Shariah High Dividend Index
- S&P/IDX Indonesia Dividend Opportunities Index
Robert Ross, Chief Commercial Officer at S&P Dow Jones Indices, said: “We are delighted to collaborate with IDX and welcome it as the newest member of our international securities exchange network. By combining S&P DJI’s world-class indexing capabilities with IDX’s deep local knowledge, our co-branded indices aim to provide investors with trusted, transparent and rules-based benchmarks that reflect the performance of the Indonesian market. As Indonesia emerges as an economic powerhouse, our collaboration will empower investors to navigate the fast-growing Indonesian capital markets and make informed investment decisions.”
Iman Rachman, President Director of Indonesia Stock Exchange, said: “This collaboration with S&P Dow Jones Indices reflects our commitment to strengthening Indonesia’s capital market ecosystem through innovation, sustainability, and global connectivity. By combining IDX’s local market expertise with S&P DJI’s global index capabilities, IDX aims to provide investors with world-class benchmarks that reflect the evolving opportunities within Indonesia. Furthermore, this partnership also marks an important step to increase IDX indices in global competitiveness and opens new commercial opportunities.”
The co-branded indices bring together S&P DJI’s exclusive datasets and unparalleled expertise in index development, alongside IDX's comprehensive insights into the Indonesian market. The partnership aims to foster a more measured approach for investing in Indonesia while addressing the diverse needs of domestic and international investors.
Key objectives of the newly launched indices are:
- The S&P/IDX Indonesia ESG Tilted Index measures the performance of IDX-listed companies that meet sustainability criteria while enhancing the overall S&P Global ESG Score with respect to the wider index universe. The index tilts weight or representation toward companies within each sector that have the best S&P Global ESG Scores.
- The S&P/IDX Indonesia Shariah High Dividend Index measures the performance of 30 high dividend yield stocks from the S&P Indonesia Shariah BMI that meet the Indonesia Sharia Stock (ISS) compliance requirement.
- The S&P/IDX Indonesia Dividend Opportunities Index measures the performance of 30 high dividend yield stocks from the S&P Indonesia LargeMidCap. It incorporates dividend sustainability consideration such as profitability and payout ratio screens and focuses on the relatively liquid segment of the market.
The collaboration also includes an offshore licensing framework, enabling IDX indices to be licensed internationally for use in index-linked products such as exchange-traded funds (ETFs), mutual funds, and structured products. S&P DJI will leverage its extensive global commercial network and master licensing agreements to promote IDX indices abroad, helping to attract greater international capital flows into Indonesia. This collaboration is also part of S&P DJI’s broader initiative to support exchanges worldwide in enhancing local market visibility through co-branded and licensed benchmarks.
An index launch ceremony will take place in the IDX Main Hall, Jakarta this afternoon. S&P DJI Head of APAC Sales Rick Chau, IDX Director of Trading and Membership Irvan Susandy and their dedicated teams will be in attendance.
