Regulatory Alerts2016-10-14
Regulation of the Head of the Commodity Futures Trading Regulatory Agency Number 5 of 2016 Concerning the Organization of Commodity Auction Markets Using the Integrated Auction System
The Head of the Commodity Futures Trading Regulatory Agency (Bappebti) issued Regulation No. 5 of 2016 to establish the operational framework for commodity auction markets utilizing the Integrated Auction System (Sistem Pasar Lelang Terpadu). The regulation mandates that only approved organizers may use this electronic system, requiring them to meet specific infrastructure and staffing standards while submitting detailed applications for regulatory approval. It further defines the rights, obligations, and liabilities of both Bappebti and the organizers, including data ownership, reporting duties, and force majeure clauses, supported by standardized application and declaration forms.
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