CoFTRA Releases April-June 2024 Futures Auction Rate, Here's The List

Futures Clearing Ranking (Photo: Antara)

JAKARTA - The Commodity Futures Trading Supervisory Agency (CoFTRA) has implemented periodic (rating) assessments for future brokers for the April-June 2024 period.

Head of CoFTRA Kasan said a performance assessment with criteria is expected to improve the quality of futures brokers under the supervision of CoFTRA.

"The assessment is carried out based on the results of the supervision of the Commodity Futures Trading Supervision Bureau (PBK), the Warehouse Receivable System (SRG), and the Commodity Auction Market (PLK). The April-June 2024 period assessment has been prepared and can be a reference for customers and prospective PBK customers," said Kasan quoting Antara.

Kasan conveyed that the basis for the periodic assessment of futures brokers 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, the Head of the PBK, SRG, and PLK Supervision Bureau, Widiastuti, explained that periodic assessments for the April-June 2024 period had been carried out on 63 active companies, excluding the five that were frozen by their business licenses.

Based on the results of the periodic assessment (rating) of the Company Futures Auction which received the top five rankings, namely PT Dupoin Futures Indonesia (formerly PT Deut Calion Futures), PT Finex Business Solusi Futures, PT MRG Mega Futures, PT International Mitra Futures, and PT Monex Investindo Futures.

There are three parameters in the periodic assessment of futures brokers for the April-June 2024 period. 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 broker activities, the results of integrity supervision, the results of supervision of futures broker transactions, handling customer complaints, and assessment of the implementation of Anti-Money Laundering and Prevention of Terrorism Financing (APU PPT) in the second quarter of 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 an online complaint 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. The value of this denominator is to facilitate aspects that have not been included in the Futures Auction Performance points obtained from the results of supervision in the field.

"The source of data used in the rating preparation comes from the reporting data of futures brokers submitted to CoFTRA including financial reports, activity reports, transaction reports, and assessments of the implementation of PPT Quarter-II 2024," said Widiastuti.