Officially, OJK Takes Over Financial And PALN Derivative Supervision From CoFTRA

The signing of the handover report addendum (BAST) (Photo: Public Relations of OJK)

JAKARTA - The Financial Services Authority (OJK) together with the Commodity Futures Trading Supervisory Agency (CoFTRA) strengthen synergies in the regulation and supervision of financial derivatives with underlying assets in the form of Effects through the signing of the Handover Report Addendum (BAST) related to the transition of management duties and supervision of financial derivatives.

The signing of the BAST addendum was carried out by the Head of CoFTRA Tirta Karma Senjaya, and the Deputy Commissioner for the Supervisory of Issuers, OJK IB Special Effects and Examination Transactions Aditya Jayantara at the OJK Office, Jakarta, Monday.

Aditya conveyed that the signing of the BAST addendum emphasized the continuation of the process of transitioning the task of supervising financial derivatives starting on January 10, 2025.

He added, in addition to carrying out the mandate of the Financial Sector Development and Strengthening Law (UU P2SK), this addendum also expands the scope of OJK supervision, namely the Customer's Distribution Product to the Foreign Futures Exchange (PALN) with the underlying assets in the form of an Effect.

"The signing of this BAST addendum will provide legal certainty for industry players with financial derivative functions and supervision with underlying assets in the form of securities including the distribution of the Customer's mandate to the Foreign Futures Exchange (PALN), has completely switched from CoFTRA to OJK," said Aditya in his statement, Monday, October 6, 2025.

Aditya said that the OJK had previously carried out its supervisory function through two approaches, namely offsite and onsite supervision regarding this financial derivative product.

According to him, for offsite supervision, OJK conducts report-based monitoring by developing an electronic reporting system (e-reporting) that can make it easier for supervisors to carry out analysis.

Meanwhile, during onsite supervision, he conveyed that the OJK supervisory team worked together accompanied by the CoFTRA supervisory team in carrying out compliance checks.

In addition, he explained, as mandated by POJK Number 15 of 2023 concerning the Implementation of Principle Administration Services Recognizing Customers, all Intermediaries of Financial Derivative Effects (PPE DK) are required to make Single Investor Identification (SID) for every investor or financial derivative customer with an underlying effect to facilitate supervision of portfolios from each customer.

Aditya expressed his highest appreciation to CoFTRA for the support, collaboration, and the spirit of synergy that continues to be maintained and the cooperation between OJK and CoFTRA.

He conveyed that OJK and CoFTRA are committed to continuing to collaborate and providing support to all stakeholders so that this task transition process can run seamlessly and provide optimal protection for industry players and consumers in the financial derivative sector with underlying assets in the form of securities.

Sementara itu, Tirta menyampaikan Bappebti akan terus melanjutkan kerja sama dengan OJK termasuk penugasan maupun program magang antara Bappebti dan OJK.

Tirta juga menjelaskan produk Perdagangan Berjangka Komoditi, mulai dari indeks, single stock, hingga PALN, saat ini diatur oleh tiga regulator.

"Sehingga untuk mempermudah industri, mekanisme pengaturan dan pengawasan akan dilakukan oleh tim gabungan BI, OJK, dan Bappebti," jelasnya.

Meanwhile, Tirta said that CoFTRA will continue to cooperate with the OJK, including assignments and internship programs between CoFTRA and the OJK.

Tirta also explained that Commodity Futures Trading products, ranging from index, single stock, to PALN, are currently regulated by three regulators.

"So to make it easier for the industry, the mechanism for regulation and supervision will be carried out by the joint BI, OJK, and CoFTRA teams," he explained.