- The Director of PT Bursa Efek Indonesia ("PT BEI") recently issued Decree No. Kep-00005/BEI/01-2022 on the Revocation of Regulations on the Trading of Option Contracts (Kontrak Opsi Saham – "KOS") and the Termination of the Jakarta Option Trading System ("JOTS") Service.
- The Decree has been issued in order to terminate the trading of KOS and the JOTS service, and also revokes the following regulations that specifically address the trading of KOS: 1) Regulation II-D on the Trading of Shares Options (Appendix to Regulation of the Board of Directors of PT BEI No. Kep-310/BEJ/09-2004); 2) Decree of the Board of Director of PT BEI No. 00031/BEI/03-2020 on the Change in Trading Hours for Exchange Transactions; and 3) Circular of PT BEI No. SE-020/BEJ/10-2004 on Series Coding for KOS through the JOTS.
- The new termination has been introduced in response to the following considerations: 1) The most recent trading of KOS occurred on 17 December 2008 and there has been no subsequent trading of KOS; 2) The Financial Services Authority (Otoritas Jasa Keuangan – "OJK") recently issued Regulation No. 32/POJK.04/2020 on Securities Derivatives Contracts ("Regulation 32/2020"), which also encompasses options and futures contract products; and 3) PT BEI is currently analyzing the business and systemic requirements for a new phase of KOS trading based upon Regulation 32/2020.
- Decree 5/2022 has been in force since 31 January 2022.
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