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