TFT to install software for RI futures exchange

TFT to install software for RI futures exchange

JAKARTA (JP): TIBCO Financial Technologies Inc. (TFT), a
subsidiary of Reuters plc, has been appointed the installer of a
software system for the planned Indonesian Commodities Futures
Exchange.

The Federation of the Indonesian Association of Edible Oils
(FAMNI), one of the sponsors of the futures exchange, said on
Wednesday TFT would work with a local partner, PT Mitra Jati
Ekakarya, in installing the fully integrated units to provide all
trading, surveillance, clearing and settlement, depository and
market data distribution components.

The creation of the commodities futures exchange is mandated
by the 1997 Futures Exchange Law. Other sponsors of the exchange
are the Association of Indonesian Coffee Exporters and PT
Kliring, a clearing house company.

Trading activities in the planned exchange will cover all
major commodities, including palm oil, cocoa, and wheat, FAMNI
vice chairman Tarmidzi Rangkuti said.

"TFT will be working closely with Jati consultants to build
one of the world's most advanced futures and options trading
venues," Tarmidzi said.

Through TFT technology, the exchange will be easily
reconfigured to add other products, such as financial futures and
options.

TFT's technology also enables "links" with other exchange
venues both in Indonesia and overseas. This will allow cross-
trading and clearing of other countries' commodities in
Indonesia, and vice versa. (02)