Jakarta Futures Exchange faces delay<\/p>\n
JAKARTA (JP): The inauguration of the Jakarta Futures Exchange
\n(JFX), Indonesia's first commodities futures trading center, has
\nbeen delayed once more from its opening date of July 1<\/p>\n
JFX president Hasan Zein Mahmud said on Monday there were
\nstill some critical elements that had not been completed, and
\nthat a team was in the process of identifying them.<\/p>\n
The team comprises of the Indonesian Commodities Exchange
\nSupervisory Agency (Bappebti) as regulator and supervisor,
\nmembers of JFX, and state-owned PT Kliring dan Jaminan Bursa
\nKomoditi as the clearing house, he said after opening a commodity
\nfutures trading training session for professionals at the Export
\nTraining Center in West Jakarta.<\/p>\n
Uncompleted matters include members' readiness, software and
\nhardware installation, which is to be finished this week, systems
\ntests, which will be run in early June, the establishment of a
\nsupporting interface and quality certification, said the former
\npresident of the Jakarta Stock Exchange.<\/p>\n
JFX, established in August, was initially scheduled to begin
\ntrading in March. It was then postponed until July.<\/p>\n
Another JFX executive said recently that trading would open in
\nSeptember, not July, due to a delay in the installation of the
\ncomputerization system.<\/p>\n
"It is almost certain that it will be postponed again, but I
\ndon't know until when," Hasan said, adding that an announcement
\nwas expected later in the week.<\/p>\n
"The new deadline should be more realistic because it now
\ninvolves all related organizations," he added.<\/p>\n
"There is so much work to be done, we thought we could finish
\n(on time) but we couldn't," he said.<\/p>\n
Founded with an authorized capital of Rp 40 billion and a
\npaid-up capital of Rp 11.6 billion, JFX has received government
\napproval to trade olein, a derivative of crude palm oil (CPO),
\nand coffee.<\/p>\n
Its founders comprise of four oil palm plantation companies,
\nseven palm oil refinery companies, eight securities companies and
\ntwo general trading companies.<\/p>\n
JFX's listed brokers, among others, are PT Batavia Futures, PT
\nArtha Berjangka, PT Dana Graha Futures, and PT Gading
\nInternational Berjangka. (10)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jakarta-futures-exchange-faces-delay-1447893297",
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"sponsor": "Okusi Associates",
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