MNC Bank Owned By Conglomerate Hary Tanoesoedibjo Collaborates With Futures Clearing, This Is The Goal

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JAKARTA - PT Bank MNC Internasional Tbk (BABP) or MNC Bank and PT Kliring Berjangka Indonesia (KBI) collaborate to encourage an increase in futures trading transactions through banking services provided by MNC Bank.

MNC Bank serves as a depository and payment bank for transaction settlements for PT KBI and its members. In addition, this collaboration is one of the strategic steps of the bank belonging to the Hary Tanoesoedibjo conglomerate to increase Third Party Funds (DPK).

"This collaboration is very strategic for MNC Bank because as a bank holding margin funds, MNC Bank can accommodate funds circulating in the futures exchange and increase participation," said President Director of MNC Bank Mahdan in his statement, quoted from Antara, Friday 10 June in Jakarta , Thursday.

The election of MNC Bank as a bank for depositing funds and payment for transaction settlements has received permission from the Commodity Futures Trading Supervisory Agency (CoFTRA) in April and received a recommendation from the Financial Services Authority (OJK) in December 2021.

The activities of saving margin funds, clearing guarantee funds and payment for transaction settlements will use MNC Bank's current accounts and banking services, both electronically and non-electronically. PT KBI and clearing members can take advantage of the e-Biz, bilyet giro and book transfer facilities from MNC Bank.

PT KBI President Director Fajar Wibhiyadi said the collaboration was a big part of the company's efforts as the Clearing Guarantee Institution and Commodity Futures Trading Transaction Settlement on the Jakarta Futures Exchange, to continue to encourage increased transactions.

He conveyed that the entry of MNC Bank as a depositary bank for margin funds had also gone through various assessment processes at KBI, which of course were based on prudential principles and corporate governance.

"We hope that in the future MNC Bank will be able to provide excellent service, especially regarding the storage of margin funds held by investors in commodity futures trading. We as a clearing institution ensure to investors that the funds are safe," said Fajar.

The collaboration between MNC Bank and PT KBI will further enhance the positive achievements that MNC Bank has achieved in 2021. Last year, MNC Bank deposits increased by 22.1 percent (yoy) to Rp11.24 trillion from Rp9.21 trillion in the previous year. 2020.

In commodity futures trading, KBI acts as a clearing institution for guarantees and transaction settlement on the Jakarta Futures Exchange (JFX). KBI's role is to ensure that all transactions are carried out in accordance with existing regulations. Currently, PT KBI has 72 members consisting of brokers and commodity futures traders.

Throughout 2021, PT KBI recorded a transaction volume of 9,555,097 lots, consisting of 2,012,529 multilateral transaction lots and 7,542,568 lots for Alternative Trading Systems (SPA). The transaction experienced growth compared to 2020 with transaction volume reaching 9,446,122.4 lots, consisting of 1,678,267 multilateral transaction lots and 7,767,855.4 lots for SPA.

Meanwhile, nationally, CoFTRA recorded the total value of commodity futures trading transactions from January to November 2021 to reach Rp. 177.94 trillion. The value of these trade transactions grew by 9.3 percent from last year. This figure comes from commodity futures trading contracts which reached 12.3 million lots, up 2.18 percent from the previous year.