{
    "success": true,
    "data": {
        "id": 1532384,
        "msgid": "firm-line-up-for-futures-bourse-1447893297",
        "date": "1997-01-08 00:00:00",
        "title": "Firm line up for futures bourse",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Firm line up for futures bourse JAKARTA (JP): The futures commodity exchange, which is expected to open here early next year, will involve about 25 brokerage companies, a senior trade official said yesterday. The chairman of the Commodity Executive Board, Arifin Lumban Gaol, said the brokerage companies would handle all transactions on the exchange. \"The brokers will carry out trading on behalf of both traders and producers,\" he told a seminar in Medan on futures trading.",
        "content": "<p>Firm line up for futures bourse<\/p>\n<p>JAKARTA (JP): The futures commodity exchange, which is<br>\nexpected to open here early next year, will involve about 25<br>\nbrokerage companies, a senior trade official said yesterday.<\/p>\n<p>The chairman of the Commodity Executive Board, Arifin Lumban<br>\nGaol, said the brokerage companies would handle all transactions<br>\non the exchange.<\/p>\n<p>\"The brokers will carry out trading on behalf of both traders<br>\nand producers,\" he told a seminar in Medan on futures trading.<\/p>\n<p>\"The bourse will open in Jakarta and will initially trade two<br>\nagribusiness commodities: rubber and coffee,\" he said.<\/p>\n<p>The Ministry of Trade and Industry proposed a futures-trading<br>\nlaw to the House of Representatives late last month for<br>\nratification.<\/p>\n<p>Arifin said the bill would set the legal foundations for a<br>\ndomestic futures commodity bourse, which the government had<br>\nplanned long ago but postponed because of controversy.<\/p>\n<p>Many people had reportedly opposed futures commodity trading,<br>\narguing that it was gambling.<\/p>\n<p>He said futures commodity contracts would be effective<br>\nmarketing tools for producers and investors to anticipate losses<br>\ncaused by price fluctuations.<\/p>\n<p>The government hired several consultants, including Sparks<br>\nCompany of the United States, to study the feasibility of a<br>\nfutures bourse.<\/p>\n<p>According to Sparks, a futures trading exchange would cost<br>\nbetween Rp 11.8 billion (US$5 million) and Rp 23.6 billion to set<br>\nup and Rp 3.54 billion a year to run.<\/p>\n<p>Its break-even point could be reached in two to four years<br>\nwith fees for each transaction set between Rp 4,700 and Rp<br>\n11,800, the company said.<\/p>\n<p>Arifin said earlier that palm crude oil and cacao had the<br>\npotential to be traded on the bourse, and other commodity<br>\nproducers were also welcome to sell their products on it. (04)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/firm-line-up-for-futures-bourse-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}