- The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued Circular No. 10/SEOJK.04/2022 as an Amendment (“Amendment”) to Circular of the OJK No. 8/SEOJK.04/2020 on Guarantee Fund Contributions (“Contribution”) Based on Transaction Value (“Circular 8/2020”), which aims to provide a number of special incentives in relation to matured structured warrant transactions.
- In essence, the Amendment has now set out a Contribution value for structured warrant transactions. The structured warrant was only recently introduced in Indonesia, meaning that Circular 8/2020 did not address the Contribution value for this type of transaction. The Contribution value for structured warrant transactions is currently set at 0.003% of the value of the relevant structured warrant issuance.
- Aside from the addition of the Contribution value for structured warrant transactions, the Contribution values for other types of transactions remain at the rates that were previously set under Circular 8/2020. In general, members of clearing agencies are required to make a Contribution of 0.01% of the value of each exchange transaction. While other specific Contribution ratios break down as follows: 1) Futures contracts are set at 0.0003%; 2) Option contracts are set at 0.01%; and 3) Sharia-bond transactions are set at 0.00125%.
- The Amendment has been in force since 29 June 2022.
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