CoFTRA – BAPPEPTI
Brokerage License No : 188/BAPPEBTI/SI/II/2003
CoFTRA or Commodity Futures Trading Regulatory Agency is formed based on Act No. 32 Year 1997, CoFTRA constitutes one of Echelon I under Ministry of Trade. CoFTRA has tasks to perform founding, controlling, and monitoring all futures trade activities, physical and service market as well according to policies made by Minister and legal regulatory.
Jakarta Futures Exchange
Business License : SPAB – 048/BBJ/10/02.
Jakarta Futures Exchange or PT. Bursa Berjangka Jakarta is the first exchange established under this law. PT. Bursa Berjangka Jakarta was established on August 19, 1999 by 4 palm plantations, 7 refineries, 8 coffee exporter, 8 securities companies and 2 general traders. Of the 40 billion capital authorized, capital paid-up was Rp. 11.6 billion. Jakarta Futures Exchange fulfills all the requirements as stated by the Act.
Indonesia Derivative Clearing House – Kliring Berjangka Indonesia
Membership No.: 17/AK-KBI/X/2003
Jakarta Futures Exchange clears all transactions through Indonesian Derivatives Clearing House or Kliring Berjangka Indonesia. It’s vision is to become a growing, healthy, solid, and reputable clearing, registration, and warranty body and to maintain financial and system information integrity.
Indonesia Commodity and Derivatives Exchange
Membership No.: 009/SPKB/ICDX/Dir/II/2010
The ICDX’s vision is to provide market participants with a venue for trading global and regional commodity products within the Asian time zone, thus allowing participants the ability to mitigate risk and facilitate the process of price discovery efficiently. With Indonesia’s strong resources base and ever-growing volume of physical transactions, the ICDX is staged to become the world’s pricing benchmark for regional commodity products. The ICDX aims to unlock this huge potential in order to form a more transparent, dynamic and liquid commodities market, empowering each stakeholder in becoming an integral part on the global economic stage.
Identrust Security International (ISI CLearing)
Membership No.: 002/SPKK/ICDX/ISI-MPF/IV/2010
ISI Clearing House becomes the Central Counterparty for all trades executed on ICDX trading platform through the process of novation, whereby it acts as a Seller to all Buyers and Buyer to all Sellers on the Exchange. ICDX provides Settlement Guarantee for all deals executed on ICDX platform. This provides a tremendous confidence to market participants as the counter-party risk is eliminated in this process. In order to protect market participants from any counter party credit risk, ICDX has established a Settlement Guarantee Fund (SGF). The settlement guarantee provided by ICDX is underpinned by a system of initial margin, daily marking-to-market procedures and additional margins. Trade is facilitated on a pre-margin basis, thus reducing the need for a large Guarantee Fund for the Clearing Corporation. As a result, ISI Clearing House is capitalised (as required by COFTRA) to US$ 2 million. Each clearing member is required by ISI Clearing House to deposit collaterals. As the Exchange goes forward and becomes profitable, it will retain earnings and contribute to the Guarantee Fund.