Jakarta Futures Exchange begins trading on Dec. 15
Jakarta Futures Exchange begins trading on Dec. 15
JAKARTA (JP): The Jakarta Futures Exchange (JFX), Indonesia's
first futures trading bourse, announced on Thursday it will begin
trading on Dec. 15.
The JFX said that after several delays it finally received its
operating license from the Commodities Futures Exchange
Supervisory Board (Bappebti) on Tuesday.
The exchange will conduct a two-week trading simulation next
week before it officially starts trading.
During the simulation period, between Nov. 28 and Dec. 13, the
exchange invites the participation of people to act as investors
by calling JFX on 39832735, facsimile on 39832730, or e-mail
ratna@bbj-jfx.com, it said in the statement.
JFX said it has prepared prizes for the investor that gains
the most profit during the simulation period, as well as the
brokers who best follow the regulations set by Bappebti.
JFX was initially scheduled to start trading in March but
computer installation problems forced it to postpone until July,
and again until September when it failed to obtain Bappebti's
operating permit.
Bappebti chief Arifin Lumban Gaol said earlier that his office
had refused to grant JFX's operating license because of
incomplete future contracts, trading and delivery procedures, as
well as problems with the JFX computer system.
The Jakarta Futures Exchange was founded in August 1999 by
four palm oil plantations, seven palm oil refineries, eight
securities companies, and two general trading companies.
It has an authorized capital of Rp 40 billion (US$4.25
million) and paid-up capital of Rp 11.6 billion.
JFX received the government's approval to trade olein, a
derivative commodity of crude palm-oil (CPO), and Robusta coffee.
Next year the exchange plans to expand into other agribusiness
commodities like plywood, as well as taking on mining and finance
commodities such as gold, currency, stock index, and interest
rates, the exchange said in the statement.
JFX's listed brokers, among others, are PT Batavia Futures, PT
Artha Berjangka, PT Dana Graha Futures, and PT Gading
International Berjangka.(tnt)