Seminar on commodities exchange planned
Seminar on commodities exchange planned
JAKARTA (JP): The Indonesian Commodity Exchange Executive
Agency (Bapebti) and the United Nations Conference on Trade and
Development (UNCTAD) will hold a regional workshop on commodity
exchange from May 17 to May 19 in Jakarta to discuss the risk
management of commodity exchanges.
Nusjirwan Azis, chief of Bapebti's Market Development Bureau,
said here Saturday that the workshop, which will be opened by the
Minister of Trade Satrio Budiardjo Joedono, will seek the most
suitable and effective risk management system for commodity
exchange.
The participants of the workshop will share experiences in
managing commodity exchanges.
Nusjirwan would not specify whether the workshop also will
discuss the possibility of establishing a futures commodity
exchange in Indonesia as Indonesian commodity traders have
suggested.
Earlier, Arifin Lumban Gaol, Bapebti's chairman, said that
based on UNCTAD's research, Indonesia needs to form a futures
commodity exchange, at least for commodities such as coffee,
cocoa and palm oil.
UNCTAD, however, is still studying the possible benefit and
costs of such an establishment.
Kompas daily reported that 50 percent of transactions in palm
oil on Kuala Lumpur's commodity exchange are done by Indonesian
traders because Indonesia's exchange has not operated in palm oil
trading.
Participants
Nusjirwan said officials from UNCTAD and the World Bank and
some international commodity exchange experts from the London
Commodity Exchange, the Coffee, Sugar and Cocoa Exchange of New
York, the Tokyo Grain Exchange and Refco, an International
commodity broker, will take part in the workshop.
The meeting will discuss such topics as risk management in
Southeast Asia and research reports by the World Bank and UNCTAD.
The Asian focus on the London Commodity Exchange will be
discussed by Clive Furness, the business development director of
the London Commodity Exchange; forms and means of regional
cooperation of commodity exchanges by Angus Kerr of Financial
Research Associate London; regional concerns by Tan Hup Thye, the
managing director of Refco Singapore Pte Ltd; and electronic
trading system and communications links by Yoshi Fukkushige, the
managing director of CNS International.
Ari Satari, a Bapebti official, said the Workshop will take
place at the Sari Pan Pacific Hotel. Forty representatives from
eight countries, including India, China, the Philippines, Japan,
Malaysia, Singapore and Indonesia will be present. (03)