Selasa, Agustus 6, 2024

Minimum Net Adjusted Capital for Futures Brokers that Secure Approval for Disbursement to Overseas Exchange Redefined

In 2013, the Head of the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – "Bappebti") previously introduced Regulation No. 106/BAPPEBTI/PER/10/2013 on the Obligations of the Reporting of Finance and Provisions on Net Adjusted Capital ("Adjusted Capital") for Futures Brokers ("Brokers"), as amended several times, most recently by Regulation of Bappebti No. 3 of 2022 (collectively referred to as "Regulation 106/2013"). However, Bappebti has decided to adjust provisions relating to the mandatory fulfillment of the capital of Brokers that disbursed benefit of their customers to overseas futures exchange ("Overseas Exchanges") through the issuance of Regulation No. 7 of 2024 on the Second Amendment to Regulation 106/2013 ("Second Amendment"), which has been in force since 31 July 2024.
Previously, Regulation 106/2013 has addressed that if the above Adjusted Capital has achieved the early warning value set between Rp. 120% out of the absolute value of Adjusted Capital (i.e. Rp. 500 million and Rp. 7.5 billion) between by the Brokers or 12% out of total funds managed by the Brokers. However, the Second Amendment no longer featuring the aforesaid 12%, in which such rate now breaks down as follows: 1) For Brokers that have been approved to disburse their customer funds to Overseas Exchanges: 3% out of the total managed funds; and 2) For Brokers not meeting criteria outlined in point (1): 10% out of the total managed funds.
Newly featured under the Second Amendment, Brokers now required to report the latest development on their financial positions to the futures exchange for such exchange to subsequently report such position to the Bappebti in no later than five business days since the report has been received by the relevant futures exchange.

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In 2013, the Head of the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi – "Bappebti") previously introduced Regulation No. 106/BAPPEBTI/PER/10/2013 on the Obligations of the Reporting of Finance and Provisions on Net Adjusted Capital ("Adjusted Capital") for Futures Brokers ("Brokers"), as amended several times, most recently by Regulation of Bappebti No. 3 of 2022 (collectively referred to as "Regulation 106/2013"). However, Bappebti has decided to adjust provisions relating to the mandatory fulfillment of the capital of Brokers that disbursed benefit of their customers to overseas futures exchange ("Overseas Exchanges") through the issuance of Regulation No. 7 of 2024 on the Second Amendment to Regulation 106/2013 ("Second Amendment"), which has been in force since 31 July 2024.
Previously, Regulation 106/2013 has addressed that if the above Adjusted Capital has achieved the early warning value set between Rp. 120% out of the absolute value of Adjusted Capital (i.e. Rp. 500 million and Rp. 7.5 billion) between by the Brokers or 12% out of total funds managed by the Brokers. However, the Second Amendment no longer featuring the aforesaid 12%, in which such rate now breaks down as follows: 1) For Brokers that have been approved to disburse their customer funds to Overseas Exchanges: 3% out of the total managed funds; and 2) For Brokers not meeting criteria outlined in point (1): 10% out of the total managed funds.
Newly featured under the Second Amendment, Brokers now required to report the latest development on their financial positions to the futures exchange for such exchange to subsequently report such position to the Bappebti in no later than five business days since the report has been received by the relevant futures exchange.

......