CoFTRA Releases The Rating Of The July-September 2024 Futures Auction

JAKARTA - The Commodity Futures Trading Supervisory Agency (CoFTRA) released a periodic assessment (rating) of futures brokers for the period July-September 2024.

Head of CoFTRA Kasan said that the performance assessment with certain criteria is expected to improve the performance of futures brokerage businesses. In addition, the rating aims to increase protection for the community and strengthen the Commodity Futures Trading ecosystem (PBK).

"This periodic assessment is expected to improve the performance of futures brokers, improve protection for the community, and strengthen the PBK ecosystem. This assessment is carried out based on the results of supervision by the PBK Supervision Bureau, Gudang Receivable System (SRG) and Commodity Auction Market (PLK)," said Kasan quoting Antara.

Kasan conveyed that the assessment of futures brokers is one of CoFTRA's efforts in realizing a healthy, orderly and just futures market.

With this assessment, information about the performance of each broker becomes more open so that people can choose brokers with good performance according to their preferences.

The basis for the preparation of the futures broker assessment is the CoFTRA Regulation Number 6 of 2023 in Article 34A paragraph (1) regarding the ranking of the implementation of business activities participating in alternative trading systems.

Meanwhile, Plt. Head of the PBK, SRG and PLK Supervision Bureau, CoFTRA Aldison, explained that periodic assessments for the period July--September 2024 had been carried out on 63 active companies, excluding two companies that were frozen with business licenses.

"Based on the results of the periodic assessment of futures brokers, the companies that are ranked in the top five are PT Finex Business Solusi Futures, PT MRG Mega Futures, PT Phillips Futures, PT Java Global Futures, and PT Menara Mas Futures," explained Aldison.

There are three parameters in the periodic assessment of futures brokers for the period July--September 2024. First, the performance of futures brokers with a maximum value of 70 percent which includes five aspects.

The five aspects include the results of monitoring reports on futures brokers' activities, the results of financial integrity supervision of futures broker transactions, handling customer complaints, and assessment of the implementation of Anti-Money Laundering and Prevention of Terrorism Financing (PPT) in the quarter-III 2024.

Second, public assessment with a maximum value of 30 percent through the distribution of questionnaires to customers as respondents. Customer data is obtained from the customer dispute resolution system managed by the Bureau of Legislation and Enforcement as well as from the Information Service (LINI CoFTRA) managed by the Secretariat of CoFTRA.

Third, the value of the lessder with a maximum of 30 percent. This value will reduce the company's total performance value from the results of the public's assessment.

In addition, this value is used to facilitate aspects that have not been included in futures broker performance points obtained from surveillance results in the field.

The data sources used in the preparation of periodic assessments come from the reporting data of futures brokers submitted to Copbeti. The data includes financial reports, activity reports, transaction reports, and assessments of the implementation of PPT quarter-III 2024.

Furthermore, the results of surveillance carried out at the location and public feedback were customers of futures brokers.