Regulatory Alerts2017-04-13
Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 3 of 2017 Concerning Procedures for Granting Approval as a Commodity Auction Market Operator Using the Integrated Commodity Auction Market System
The Head of the Commodity Futures Trading Regulatory Agency (Bappebti) issued Regulation No. 3 of 2017 to establish the Standard Operating Procedures for granting approval to Commodity Auction Market Operators via the Integrated Commodity Auction Market System. This regulation mandates that all approval processes be conducted online, with a processing time of 20 working days from the submission of complete and correct documents. It details the specific documentation requirements for various business entities and outlines the internal administrative workflow for verification, inspection, and final issuance of approval certificates.
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