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Decree No. 650/MPP/Kep/10/2004 concerning provisions on the operation of forward auction market of agro commodities.

Country/Territory
Indonesia
Document type
Regulation
Date
2004
Source
FAO, FAOLEX
Original source
Business News No.7155-7156, 29 December 2004, pp. 2A-12A.
Subject
Agricultural & rural development
Keyword
Agricultural commodities Internal trade Institution
Geographical area
Asia, Asia and the Pacific, East Asian Seas, Indian Ocean, South-Eastern Asia
Entry into force notes
The Decree enters into force on 18 October 2004.
Abstract

This Decree provides for the development of a forward auction market of agro commodities. The Futures Commodity Trade Supervisory Board, referred to as the Bappebti fosters in the Decree, regulates and supervises the implementation of activities of forward auction market of agro commodities (art. 3). Organizers of the Forward auction market must establish an organizational structure and are obliged to cooperate with clearing and underwriting institutions to assure the settlement of transactions (arts. 7-10). Chapter III defines the members of the forward auction market, requirements that must be fulfilled, rights and obligations of members, etc. Chapter V defines the mechanisms of transaction of the forward auction market.

Full text
English