Indonesia's financial regulator anticipates issuing the business license for its minerals and strategic commodities exchange, known as Icomex, by January 1 of next year, according to a senior official's testimony before parliament on Tuesday.

Sarjito, who oversees the exchange's regulatory body at Indonesia's Financial Services Authority, indicated that trading is slated to commence on January 4, with tin set to be the first commodity listed for trading on the platform.

This initiative marks a pivotal step for Indonesia, which is looking to establish a more structured and transparent marketplace for its key resources, positioning Icomex to enhance price discovery and attract international participants from its launch date.