Senin, Agustus 21, 2023

KPEI Clarifies Applicable Services Fees for the Management and Administration of Collateral

Following the issuance of Rule No. II-12 as the Appendix to Decree of the Board of Directors of PT Kliring Penjaminan Efek Indonesia (“KPEI”) No. Kep-043/DIR/KPEI/0823 (“Rule II-12”), the Board of Directors of KPEI has decided to set fees for the management and administration of collateral services (collectively referred to as “Services”) through the issuance of Circular No. SE-009/DIR/KPEI/0823 (“Circular 9/2023”), which has been in force since 15 August 2023.
Rule II-12 obliges all clearing members to pay for Services, while Circular 9/2023 now clarifies that services for the management of collateral in the form of minimum cash funds (Dana Minimum Kas – “DMK”) should be charged at a rate of 10% of the net income of the relevant DMK on a quarterly basis. Moreover, invoices for said fees should be sent at the beginning of January, July and October.
Furthermore, Circular 9/2023 has also now clarified that the above-mentioned DMK management fees will be initially charged for certain DMK periods that will be invoiced in early October 2023. These DMK periods break down as follows: 1) August - September 2023; and 2) September - October 2023. However, it should be noted that any DMK that falls under the period listed in point (1) above should be charged at a rate of half the price of the previously mentioned Services fees.
In addition, Circular 9/2023 also features various administrative fees that will be charged in relation to collateral. Said fees include:

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Following the issuance of Rule No. II-12 as the Appendix to Decree of the Board of Directors of PT Kliring Penjaminan Efek Indonesia (“KPEI”) No. Kep-043/DIR/KPEI/0823 (“Rule II-12”), the Board of Directors of KPEI has decided to set fees for the management and administration of collateral services (collectively referred to as “Services”) through the issuance of Circular No. SE-009/DIR/KPEI/0823 (“Circular 9/2023”), which has been in force since 15 August 2023.
Rule II-12 obliges all clearing members to pay for Services, while Circular 9/2023 now clarifies that services for the management of collateral in the form of minimum cash funds (Dana Minimum Kas – “DMK”) should be charged at a rate of 10% of the net income of the relevant DMK on a quarterly basis. Moreover, invoices for said fees should be sent at the beginning of January, July and October.
Furthermore, Circular 9/2023 has also now clarified that the above-mentioned DMK management fees will be initially charged for certain DMK periods that will be invoiced in early October 2023. These DMK periods break down as follows: 1) August - September 2023; and 2) September - October 2023. However, it should be noted that any DMK that falls under the period listed in point (1) above should be charged at a rate of half the price of the previously mentioned Services fees.
In addition, Circular 9/2023 also features various administrative fees that will be charged in relation to collateral. Said fees include:

......