The commission of the trade transaction was reviewed

The Indonesian Business On Wednesday, January 06 2010.

Jakarta: The distribution of the commission that was picked up on each transaction in the trade measured will be arranged repeated followed the transfer of the authority of the development of the single platform for the transaction in the alternative of the trade system (SPA).

The Commodity Futures Trading Regulatory Agency (CoFTRA) decided the transfer of the authority of the single platform administrator from Jakarta Futures Exchange (JFX) to Indonesian Derivatives Clearing House (IDCH). CoFTRA did not take part in arranging the distribution of this commission, but only gave the policy direction. Beforehand CoFTRA had severed the commission that must be accepted by IDCH of 30% and JFX 40%. This number was recorded descended if compared with the commission mulberry that was accepted by the two institutions beforehand. Until now the commission that was picked up from each transaction always was divided equal each one of 45% was good for IDCH and JFX after being reduced payment of the compensation fund 10%. The distribution of the commission was arranged repeated because must pay for the use cost of the system that is IDCH became 30% and JFX 40% whereas the compensation fund 2,5% and the rest of them for the system of 27.5%.

The managing director IDCH Surdiyanto Suryodarmodjo signalled the possibility of policy reform of the distribution of this commission. With the role as the administrator, he hoped for the commission that was accepted by IDCH at least 40% from each trade transaction measured that was reported to the stock exchange and it was noted in the agency clearing. With consideration of the possibility of the system cost that will be used later will be far more cheaper compared with Ariel Trading System from London, England, the winner of the tender for the single platform beforehand that finally had been cancelled. IDCH will begin the process of the procurement in January-February to choose the strategic partner who will provide the system that was integrated for the trade industry measured the commodity and hoped at the beginning of March has been chosen vendor that will provide supervisory system and trading system. In the meantime, JFX it was hoped still could be reaping the income through his involvement in the supervision activity and the management against the stock exchange member.