Regulation of the Commodity Futures Trading Regulatory Agency Number 3 of 2026 Concerning Technical Provisions for the Organization of Commodity Auction Markets

Main Building, 4th Floor, Ministry of Trade
M. I. Ridwan Rais Street, No. 5, Jakarta 10110 Tel. 021-23528400 Ext 39900 Fax. 021-2352 8690 www.kemendag.go.id

REGULATION OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY NUMBER 3 OF 2026

CONCERNING
TECHNICAL PROVISIONS FOR THE ORGANIZATION OF COMMODITY AUCTION MARKETS

BY THE GRACE OF GOD THE ALMIGHTY

THE HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY,

Considering:
a. that commodity auction markets as a means of price formation, market certainty, justice, transparency, accountability, and price stability in commodity trading must apply good governance by prioritizing the interests of commodity auction market members, so that fair prices and commodity quality guarantees are realized; b. that with the establishment of the Minister of Trade Regulation Number 33 of 2024 concerning the Implementation Regulations of Presidential Regulation Number 75 of 2022 concerning the Arrangement, Development, and Development of Commodity Auction Markets, the Commodity Futures Trading Regulatory Agency Regulation Number 3 of 2021 concerning Technical Provisions for the Organization of Commodity Auction Markets with Immediate Settlement (Spot) is no longer in line with developments and legal needs, so it needs to be replaced;
c. that based on considerations as referred to in letters a and b, and to implement the provisions of Article 7 paragraph (4), Article 9 paragraph (3), Article 15 paragraph (4), Article 17 paragraph (3), Article 20 paragraph (5), Article 24 paragraph (4), and Article 29 paragraph (5) of the Minister of Trade Regulation Number 33 of 2024 concerning the Implementation Regulations of Presidential Regulation Number 75 of 2022 concerning the Arrangement, Development, and Development of Commodity Auction Markets, it is necessary to establish a Regulation of the Commodity Futures Trading Regulatory Agency concerning Technical Provisions for the Organization of Commodity Auction Markets;

Recalling:

Law Number 9 of 2006 concerning Warehouse Receipt Systems (State Gazette of the Republic of Indonesia Year 2006 Number 59, Supplement to the State Gazette of the Republic of Indonesia Number 4630) as amended by Law Number 9 of 2011 concerning Amendments to Law Number 9 of 2006 concerning Warehouse Receipt Systems (State Gazette of the Republic of Indonesia Year 2011 Number 78, Supplement to the State Gazette of the Republic of Indonesia Number 5231);
Law Number 39 of 2008 concerning State Ministries (State Gazette of the Republic of Indonesia Year 2008 Number 166, Supplement to the State Gazette of the Republic of Indonesia Number 4916) as amended by Law Number 61 of 2024 concerning Amendments to Law Number 39 of 2008 concerning State Ministries (State Gazette of the Republic of Indonesia Year 2024 Number 225, Supplement to the State Gazette of the Republic of Indonesia Number 6994);
Law Number 7 of 2014 concerning Trade (State Gazette of the Republic of Indonesia Year 2014 Number 45, Supplement to the State Gazette of the Republic of Indonesia Number 5512) as amended several times, lastly by Law Number 6 of 2023 concerning the Determination of Government Regulation in Lieu of Law Number 2 of 2022 concerning Job Creation into Law (State Gazette of the Republic of Indonesia Year 2023 Number 41, Supplement to the State Gazette of the Republic of Indonesia Number 6856);
Presidential Regulation Number 75 of 2022 concerning the Arrangement, Development, and Development of Commodity Auction Markets (State Gazette of the Republic of Indonesia Year 2022 Number 116);
Presidential Regulation Number 168 of 2024 concerning the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2024 Number 364);
Minister of Trade Regulation Number 33 of 2024 concerning the Implementation Regulations of Presidential Regulation Number 75 of 2022 concerning the Arrangement, Development, and Development of Commodity Auction Markets (State Gazette of the Republic of Indonesia Year 2024 Number 945);
Minister of Trade Regulation Number 6 of 2025 concerning the Organization and Work Structure of the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2025 Number 53);

DECIDING:
To Establish: A REGULATION OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY CONCERNING TECHNICAL PROVISIONS FOR THE ORGANIZATION OF COMMODITY AUCTION MARKETS.

CHAPTER I
GENERAL PROVISIONS

Article 1
In this Regulation of the Agency, the following terms are defined as:

Head of the Commodity Futures Trading Regulatory Agency, hereinafter referred to as the Head of Bappebti, is the highest official leading the Commodity Futures Trading Regulatory Agency.
Commodity Futures Trading Regulatory Agency, hereinafter referred to as Bappebti, is a government agency whose main task is to conduct guidance, regulation, development, and supervision of Futures Trading.
Commodity Auction Market is an organized physical market for buyers and sellers to conduct commodity transactions through an auction system with commodity delivery.
Commodity is a good that meets the requirements to be traded in the Commodity Auction Market.
Commodity Auction Market with Immediate Settlement (Spot) is a Commodity Auction Market where the commodities are already available before the transaction occurs according to agreed quality, volume, and type standards by the seller and buyer, with payment on the day of the transaction and immediate delivery of the Commodity after the transaction occurs according to the agreement.
Commodity Auction Market with Deferred Settlement (Forward) is a Commodity Auction Market where the commodities are not yet available at the time of the transaction, with payment and delivery of the commodities at a later time according to quality, volume, and type standards agreed upon by the seller and buyer.
Commodity Auction Market Organizer is a state-owned enterprise, regional-owned enterprise, cooperative, or limited liability company that conducts Commodity Auction Market activities.
Commodity Auction Market Member is a seller and/or buyer participant who has registered with the Commodity Auction Market Organizer.
Commodity Auction Market Guarantee Institution, hereinafter referred to as the Guarantee Institution, is a legal entity in the form of a limited liability company tasked with conducting registration and guaranteeing transactions occurring in the Commodity Auction Market.
Guarantee Institution Member is a Commodity Auction Market Member who receives benefits from the registration and transaction guaranteeing conducted by the Guarantee Institution.
Party is any Commodity Auction Market Organizer, Commodity Auction Market Member, Guarantee Institution, and Guarantee Institution Member.
Commodity Auction Guarantee Unit, hereinafter referred to as the Guarantee Unit, is a unit tasked with guaranteeing transactions occurring in the Commodity Auction Market with Immediate Settlement (Spot) and is part of the Commodity Auction Market with Immediate Settlement (Spot) Organizer.
Commodity Auction Market Transaction Guarantee, hereinafter referred to as Transaction Guarantee, is the Commodity to be auctioned, money, or securities placed or deposited by the Commodity Auction Market Member to guarantee the execution of transactions between sellers and buyers in the Commodity Auction Market with Immediate Settlement (Spot) and Commodity Auction Market with Deferred Settlement (Forward).

Article 2
(1) Commodity Auction Markets consist of:
a. Commodity Auction Market with Immediate Settlement (Spot); and b. Commodity Auction Market with Deferred Settlement (Forward).
(2) Commodity Auction Markets as referred to in paragraph (1) are organized by the Commodity Auction Market Organizer.

Article 3
(1) Commodities that can be traded in the Commodity Auction Market include:
a. goods that can be stored in the warehouse receipt system; and b. Commodities that have been determined in the decision of the minister in charge of the government affairs in the field of trade, according to the provisions of legislation. (2) Commodities not yet included in the Commodities as referred to in paragraph (1) can be traded through a limited testing space (regulatory sandbox) mechanism, which is further regulated with a Bappebti Regulation concerning the limited testing space.

CHAPTER II
INSTITUTIONAL

First Section
Commodity Auction Market Organizer

Article 4
(1) The organization of Commodity Auction Markets can only be conducted by a Commodity Auction Market Organizer that has obtained approval from the Head of Bappebti. (2) The Commodity Auction Market Organizer conducts activities:
a. Commodity Auction Market with Immediate Settlement (Spot); and/or b. Commodity Auction Market with Deferred Settlement (Forward), according to the approval as referred to in paragraph (1).

Article 5
Controllers of the Commodity Auction Market Organizer, both directly and indirectly, must be individuals who:
a. have good character and morality; b. have knowledge in the field of Commodity Auction Markets;
c. have never been declared bankrupt, or served as a director, manager, or supervisory commissioner of a company declared bankrupt within the last 5 (five) years; and
d. have never been sentenced based on a final court decision for committing criminal acts in the economic or financial field with a penalty threat of more than 5 (five) years; and e. have never been proven to have violated provisions of legislation in the field of Commodity Auction Markets.

Article 6
(1) The Commodity Auction Market Organizer can only be conducted by a legal entity in the form of a limited liability company or a cooperative. (2) The Commodity Auction Market Organizer must meet the following requirements:
a. have an institutional structure consisting of at least a membership committee, an auction committee, and a Commodity committee; b. meet capital requirements with the provisions:

A Commodity Auction Market Organizer in the form of a limited liability company and regional enterprise has a basic capital of at least Rp1,000,000,000.00 (one billion rupiah); and
A Commodity Auction Market Organizer in the form of a cooperative has its own capital of at least Rp250,000,000.00 (two hundred fifty million rupiah).
c. have and/or control facilities and infrastructure, at least covering:
office building;
warehouse or storage facilities; and
adequate office equipment and supplies.
d. have and/or provide a system for organizing the Commodity Auction Market, in the event that the Commodity Auction Market is organized through electronic facilities; e. have regulations and house rules for the organization of the Commodity Auction Market that have obtained approval from the Head of Bappebti; f. have a mechanism for testing Commodity quality, including food safety, whether conducted independently or in cooperation with other parties; g. cooperate with the Guarantee Institution in the implementation of the Commodity Auction Market with Deferred Settlement (Forward); and h. form a Guarantee Unit or cooperate with the Guarantee Institution in the implementation of the Commodity Auction Market with Immediate Settlement (Spot).

Article 7
(1) The electronic system for organizing the Commodity Auction Market as referred to in Article 6 paragraph (2) letter d must meet at least the following requirements:
a. accurate, current, safe, trusted, online and real-time, and compatible in system and application with the Commodity Auction Market information system managed by Bappebti and the information system managed by the Guarantee Institution; b. have functions that guarantee the protection of membership profile, financial, and transaction data in the Commodity Auction Market;
c. have features for managing, storing transaction data, monitoring, and reporting Commodity Auction Market activities stored in a database with guaranteed data security and having a backup database that can be restored or recovered in the event of system failure; and
d. have data exchange access using an open application programming interface method with generally applicable open standards with a modern approach prioritizing flexibility, security, and ease of integration.

Article 8
(1) The regulations and house rules for the organization of the Commodity Auction Market as referred to in Article 6 paragraph (2) letter d must contain at least:
a. requirements and procedures for accepting Commodity Auction Market Members; b. rights and obligations of Commodity Auction Market Members;
c. formulation or calculation of membership fees and other fees for transaction services through auction;
d. types, quality requirements, and traceability of Commodities that are the object of the auction; e. transaction mechanism, transaction guarantee, and transaction settlement in the Commodity Auction Market; f. determination of auction schedule and sessions; g. mechanism and place of Commodity delivery; h. facilities used for the auction;
i. dispute settlement mechanism; and
j. sanctions for violations of regulations and house rules.
(2) In the event of changes to the regulations and house rules for the organization of the Commodity Auction Market as referred to in Article 6 paragraph (2) letter e, the Commodity Auction Market Organizer is required to submit the changes to the regulations and house rules to obtain approval from the Head of Bappebti. (3) The regulations and house rules for the organization of the Commodity Auction Market as referred to in paragraph (1) are drafted with reference to the procedure for drafting regulations and house rules for the organization of the Commodity Auction Market as contained in Appendix I which is an inseparable part of this Regulation of the Agency.

Article 9
(1) The Commodity Auction Market Organizer must have human resources with the necessary competence in the organization of the Commodity Auction Market. (2) Competence as referred to in paragraph (1) must include at least:
a. understanding of legislation in the field of Commodity Auction Markets; b. knowledge regarding the organization of the Commodity Auction Market; and
c. knowledge regarding the characteristics of Commodities that are the object of the auction.

Article 10
(1) Business actors submit a request for approval as a Commodity Auction Market Organizer to the Head of Bappebti through the Bappebti online licensing system by attaching documents:
a. a letter of request for approval as a Commodity Auction Market Organizer using Form Number P.PLK-01 as contained in Appendix II which is an inseparable part of this Regulation of the Agency. b. business identification number;
c. deed of establishment of the limited liability company or cooperative and amendments that have been approved by the ministry in charge of government affairs in the field of law;
d. company organizational structure; e. documents of ownership or lease agreements for facilities and infrastructure; f. balance sheet of accounts 3 (three) months before the submission of approval and financial statements of the previous year that have been audited for companies that have operated for more than 1 (one) year; g. financial projections and business plan for 3 (three) years; h. a written statement possessing human resources with competence as referred to in Article 9 paragraph (2) proven by training certificates or work experience letters in the field of Commodity trade;
i. draft regulations and house rules for the organization of the Commodity Auction Market;
j. a written statement of readiness for hardware and software of the Commodity Auction Market organization system for auctions conducted through electronic facilities or online; and k. draft cooperation agreement between the prospective Commodity Auction Market Organizer and the Guarantee Institution, if the prospective Commodity Auction Market Organizer implements the transaction guarantee mechanism in cooperation with the Guarantee Institution. (2) Regarding the request as referred to in paragraph (1), Bappebti conducts:
a. verification, research, or assessment of the suitability and validity of documents as referred to in paragraph (1); b. discussion of the draft regulations and house rules of the Commodity Auction Market Organizer as referred to in paragraph (1) letter i;
c. fit and proper test interviews with the management of the applicant company regarding character, morality, and knowledge in the field of Commodity Auction Markets; and
d. examination of physical facilities and infrastructure supporting the operation of the Commodity Auction Market organization at the applicant's office and making a report on the examination of physical facilities and infrastructure of the Commodity Auction Market Organizer using Form Number P.PLK-02 as contained in Appendix II which is an inseparable part of this Regulation of the Agency. (3) In the event that the documents as referred to in paragraph (1) are declared complete and correct, and there are no responses or notes on the stages as referred to in paragraph (2), the Head of Bappebti issues approval as a Commodity Auction Market Organizer within a maximum period of 5 (five) working days since the documents and stages are declared complete and correct using Form Number P.PLK-03 as contained in Appendix II which is an inseparable part of this Regulation of the Agency. (4) In the event that:
a. the documents as referred to in paragraph (1) are declared incomplete and incorrect or there are inconsistencies in the stages as referred to in paragraph (2), the Head of Bappebti provides responses or notes to the applicant to be completed within a maximum period of 5 (five) working days since the submission of the response or note; b. the applicant has submitted responses or notes as referred to in letter a, Bappebti conducts verification within a maximum period of 5 (five) working days; and
c. the applicant does not complete and/or adjust based on responses or notes as referred to in letter a, the Head of Bappebti rejects the request using Form Number P.PLK-04 as contained in Appendix II which is an inseparable part of this Regulation of the Agency.
(5) In the event of a disturbance that causes the Bappebti online licensing system to malfunction, the submission of requests for business licensing in the field of Commodity Auction Markets is submitted to Bappebti manually through the integrated trade service unit.

Article 11
(1) The Commodity Auction Market Organizer has the duties:
a. to organize and conduct Commodity auctions transparently and fairly; b. to regulate the implementation of Commodity auctions, payment, and settlement of Commodity auction transactions;
c. to supervise the implementation of Commodity auctions to ensure compliance with applicable regulations;
d. to provide information regarding Commodities to be auctioned to prospective Commodity auction sellers and prospective Commodity auction buyers; and e. to provide information required by the Guarantee Institution related to transactions conducted by Guarantee Institution Members. (2) The Commodity Auction Market Organizer has the authority:
a. to set auction terms and conditions; b. to reject or cancel offers that do not comply with applicable regulations;
c. to stop the auction if there is a disturbance or if the auction implementation is not transparent and fair;
d. to regulate the use of technology and information systems to support auction activities; and e. to supervise the activities of Commodity Auction Market Members, as well as prospective Commodity auction sellers and prospective Commodity auction buyers during the implementation of the Commodity auction.

Article 12
(1) The Commodity Auction Market Organizer is required to report to the Head of Bappebti every change:
a. company name and/or address; and/or b. management, supervisors, board of directors, board of commissioners members, and/or shareholders, no later than 5 (five) working days after the change occurs using Form Number P.PLK-05 and/or Form Number P.PLK-06 as contained in Appendix III which is an inseparable part of this Regulation of the Agency. (2) Bappebti conducts verification and provides responses to the change report as referred to in paragraph (1) within a maximum period of 5 (five) working days since the report is received. (3) Bappebti conducts fit and proper test interviews regarding changes in management and board of directors members of the Commodity Auction Market Organizer, as referred to in paragraph (1).

Second Section
Guarantee Institution

Article 13
(1) The Guarantee Institution can only conduct guaranteeing activities for transactions in the Commodity Auction Market after obtaining approval from the Head of Bappebti. (2) The Guarantee Institution as referred to in paragraph (1) can conduct guaranteeing activities for transactions for:
a. Commodity Auction Market with Immediate Settlement (Spot); and/or b. Commodity Auction Market with Deferred Settlement (Forward).

Article 14
Controllers of the Guarantee Institution, both directly and indirectly, must be individuals who:
a. have good character and morality; b. have knowledge in the field of Commodity Auction Markets;
c. have never been declared bankrupt, or served as a director, manager, or supervisory commissioner of a company declared bankrupt within the last 5 (five) years; and
d. have never been sentenced based on a final court decision for committing criminal acts in the economic or financial field with a penalty threat of more than 5 (five) years; and e. have never been proven to have violated provisions of legislation in the field of Commodity Auction Markets.

Article 15
(1) The Guarantee Institution can only be conducted by a legal entity in the form of a limited liability company.
(2) The Guarantee Institution must meet the following requirements:
a. have paid-up capital of at least Rp100,000,000,000.00 (one hundred billion rupiah); b. have and/or provide facilities and infrastructure to conduct guaranteeing activities for transactions occurring in the Commodity Auction Market, at least covering:

office building; and
adequate office equipment and supplies.
c. have human resources with competence that can support the organization of guaranteeing in the Commodity Auction Market;
d. have and/or provide an information system for guaranteeing activities for Commodity Auction Market transactions; e. have regulations and house rules for guaranteeing Commodity Auction Market transactions that have obtained approval from the Head of Bappebti; and f. have cooperation with the Commodity Auction Market Organizer.

Article 16
Competence as referred to in Article 15 paragraph (2) letter c must include at least:

a. have knowledge of the provisions of laws and regulations in the field of Commodity Auction Markets; and b. have knowledge of the guarantee of Commodity Auction Markets.
Article 17
(1) The regulations and procedures for guaranteeing Commodity Auction Market transactions as referred to in Article 15 paragraph (2) letter e shall at least contain:
a. requirements for Guarantee Institution Members; b. mechanism for guaranteeing and settling transaction guarantees;
c. mechanism for placing and using Transaction Guarantees;
d. amount of Transaction Guarantees; e. transaction guarantee fees; f. rights and obligations of Guarantee Institution Members; g. dispute resolution mechanism; and h. sanctions for violations of regulations and procedures. (2) In the event of changes to the regulations and procedures for guaranteeing Commodity Auction Market transactions as referred to in Article 15 paragraph (2) letter e, the Guarantee Institution must submit the changes to the regulations and procedures to obtain approval from the Head of Bappebti. (3) The regulations and procedures for guaranteeing Commodity Auction Market transactions as referred to in paragraph (1) shall be prepared in accordance with the procedures for preparing regulations and procedures for guaranteeing Commodity Auction Market transactions as listed in Appendix IV, which is an inseparable part of this Agency Regulation.
Article 18
(1) Business actors shall submit an application for approval as a Guarantee Institution to the Head of Bappebti through Bappebti's online licensing system by attaching the following documents:
a. application letter for approval as a Guarantee Institution using Form Number LP.PLK-01 as listed in Appendix V, which is an inseparable part of this Agency Regulation. b. business identification number;
c. articles of association of the limited liability company and its amendments that have been legalized by the ministry that organizes government affairs in the field of law;
d. company organizational structure; e. ownership documents or lease agreements for facilities and infrastructure; f. balance sheet for 3 (three) months prior to the application for approval and audited financial statements for the previous year for companies that have been operating for more than 1 (one) year; g. financial projections and business plan for 3 (three) years; h. written statement of having human resources with competencies that can support the implementation of guarantees in the Commodity Auction Market, accompanied by supporting documents such as training certificates or work experience letters;
i. written statement of readiness of hardware and software for the Commodity Auction Market transaction guarantee system;
j. draft regulations and procedures for guaranteeing Commodity Auction Market transactions; and k. draft cooperation agreement between the Guarantee Institution and the prospective Commodity Auction Market Operator if the prospective Commodity Auction Market Operator cooperates with the Guarantee Institution in implementing the transaction guarantee mechanism. (2) For applications as referred to in paragraph (1), Bappebti shall conduct:
a. verification, examination, or assessment of the suitability and validity of the documents as referred to in paragraph (1); b. discussion of the draft regulations and procedures of the Guarantee Institution as referred to in paragraph (1) letter j;
c. fit and proper test interview with the company's management regarding ethics, morals, and knowledge in the field of Commodity Auction Market; and
d. inspection of the physical facilities and infrastructure of the Guarantee Institution at the applicant's office and prepare a report on the inspection results using Form Number LP.PLK-02 as listed in Appendix V, which is an inseparable part of this Agency Regulation. (3) In the event that the documents as referred to in paragraph (1) are declared complete and correct, and there are no responses or notes on the stages as referred to in paragraph (2), the Head of Bappebti shall issue approval as a Guarantee Institution within a maximum period of 5 (five) working days from the date the documents and stages are declared complete and correct, using Form Number LP.PLK-03 as listed in Appendix V, which is an inseparable part of this Agency Regulation. (4) In the event that:
a. the documents as referred to in paragraph (1) are declared incomplete and incorrect or there are inconsistencies in the stages as referred to in paragraph (2), the Head of Bappebti shall provide responses or notes to the applicant to be completed within a maximum period of 5 (five) working days from the date of submission of responses or notes; b. the applicant has submitted responses or notes as referred to in letter a, Bappebti shall conduct verification within a maximum period of 5 (five) working days; and
c. the applicant fails to complete and/or adjust based on the responses or notes as referred to in letter a, the Head of Bappebti shall reject the application using Form Number LP.PLK-04 as listed in Appendix V, which is an inseparable part of this Agency Regulation.
(5) In the event of a disruption that causes Bappebti's online licensing system to malfunction, the submission of applications for business licensing in the field of Commodity Auction Market shall be submitted to Bappebti manually through the integrated trade service unit.
Article 19
(1) The Guarantee Institution has the following duties:
a. provide a guarantee system, sufficient infrastructure and facilities for the implementation of guarantees and settlement of Commodity Auction Market transactions; b. create a special account separate from the Guarantee Institution's operational account at a financial institution or bank that functions as a place for storing Transaction Guarantees;
c. accept registration and guarantee the settlement of every Commodity Auction Market transaction; and
d. ensure that the operational activities of guaranteeing and settling Commodity Auction Market transactions are carried out in accordance with applicable provisions. (2) The Guarantee Institution has the following authorities:
a. determine Transaction Guarantees, service fees, and transaction settlement guarantee fees; b. evaluate and test the qualifications of prospective Guarantee Institution Members and accept or reject such candidates as Guarantee Institution Members;
c. request and obtain necessary information from Commodity Auction Market Operators related to transactions conducted by Guarantee Institution Members;
d. take actions that, in its judgment, are appropriate or necessary to ensure and enforce compliance with the regulations and procedures for guaranteeing Commodity Auction Market transactions; and e. take necessary steps for the guarantee and settlement of Commodity Auction Market transactions.
Article 20
(1) The Guarantee Institution must report to the Head of Bappebti every change in:
a. company name and/or address; and/or b. members of the board of directors, members of the board of commissioners and/or shareholders, no later than 5 (five) working days after the change occurs, using Form Number LP.PLK-05 and/or Form Number LP.PLK-06 as listed in Appendix VI, which is an inseparable part of this Agency Regulation. (2) Bappebti shall conduct verification and submit responses to the report of changes as referred to in paragraph (1) within a maximum period of 5 (five) working days from the receipt of the report. (3) Bappebti shall conduct a fit and proper test interview for changes in the management and members of the board of directors of the Guarantee Institution, as referred to in paragraph (1).
Part Three
Commodity Auction Market Members
Article 21
(1) Commodity Auction Market Members include:
a. individuals; and b. business entities.
(2) Commodity Auction Market Members as referred to in paragraph (1) have the right to conduct sale and/or purchase transactions in the Commodity Auction Market organized by the Commodity Auction Market Operator.
Article 22
(1) Individual Commodity Auction Market Members as referred to in Article 21 paragraph (1) letter a consist of:
a. Indonesian citizens, as selling participants and/or buying participants; and b. foreign citizens.
(2) Business entity Commodity Auction Market Members as referred to in Article 21 paragraph (1) letter b consist of:
a. national business entities, as selling participants and/or buying participants; and b. foreign business entities.
(3) Commodity Auction Market Members who are foreign citizens or foreign business entities must:
a. have a representative office with approval for establishing an office in the territory of the Unitary State of the Republic of Indonesia; or b. cooperate with a national business entity, as buying participants. (4) Cooperation as referred to in paragraph (3) letter b must be with the approval of the Commodity Auction Market Operator.
Article 23
(1) Commodity Auction Market Members must meet at least the following requirements:
a. have a good reputation and integrity in the field of trade and/or finance; b. have an institutional reputation as a healthy business entity; and
c. have fulfilled membership financial obligations.
(2) The requirements and procedures for accepting Commodity Auction Market Members shall be further regulated in the regulations and procedures of the Commodity Auction Market Operator.
Article 24
(1) Commodity Auction Market Members have the right to:
a. receive equal treatment and protection from the Commodity Auction Market Operator; b. obtain market information collected by the Commodity Auction Market Operator; and
c. grant power of attorney to other parties to conduct transactions in the Commodity Auction Market.
(2) The granting of power of attorney to other parties as referred to in paragraph (1) letter c shall be in the form of a special power of attorney given by the Commodity Auction Market Member as the grantor to the other party as the grantee. (3) The granting of power of attorney to other parties as referred to in paragraph (2) must be with the approval of the Commodity Auction Market Operator to then be designated as a Commodity Auction Market Member after fulfilling the membership requirements. (4) The grantor is fully responsible for every action of the authorized party in conducting transactions in the Commodity Auction Market.
Article 25
Commodity Auction Market Members have the following obligations:
a. comply with the provisions applicable in the Commodity Auction Market; b. pay membership fees and transaction fees as Commodity Auction Market Members;
c. submit Transaction Guarantees;
d. make payments for transactions, for Commodity Auction Market Members as buyers; e. deliver Commodities, for Commodity Auction Market Members as sellers; and f. be responsible for any errors, negligence, and violations of the provisions applicable in the Commodity Auction Market.
Part Four
Guarantee Institution Members
Article 26
(1) Every Commodity Auction Market Member for Forward Settlement must become a Guarantee Institution Member to obtain guarantee services for transactions in the Commodity Auction Market. (2) In the event that the guarantee for transactions in the Commodity Auction Market for Spot Settlement is carried out through a Guarantee Institution, Commodity Auction Market Members must become members of the Guarantee Institution.
Part Five
Approval Processing
Article 27
The technical unit that has the duties and functions of fostering the field of Commodity Auction Market at Bappebti shall prepare:
a. technical guidelines for processing approval as a Commodity Auction Market Operator for Spot Settlement and Commodity Auction Market for Forward Settlement; and b. technical guidelines for processing approval as a Guarantee Institution, which will then become the technical guidelines for approval processing.
CHAPTER III
OPERATION OF THE COMMODITY AUCTION MARKET
Part One
Implementation of the Commodity Auction Market
Article 28
(1) The implementation of the Commodity Auction Market can be carried out by:
a. face-to-face directly or offline; and/or b. through electronic means or online.
(2) The Commodity Auction Market Operator may stop the implementation of auctions conducted through electronic systems as referred to in paragraph (1) letter b if there are certain conditions, including:
a. internet disruption; b. electricity disruption;
c. electronic system constraints; and/or
d. force majeure conditions.
(3) The implementation of the Commodity Auction Market as referred to in paragraph (1) shall be further regulated in the regulations and procedures for the operation of the Commodity Auction Market.
Part Two
Commodity Auction Market for Spot Settlement
Article 29
(1) The operation of the Commodity Auction Market for Spot Settlement shall be carried out with the following provisions:
a. transactions can only be carried out by Commodity Auction Market Members; b. Commodities to be transacted are available and under the control of the Commodity Auction Market Operator;
c. quality standards, volume, and type have been tested and measured;
d. Commodities as referred to in letter b constitute Transaction Guarantees for selling participants; e. buying participants place Transaction Guarantees in the form of money or securities with the Commodity Auction Market Operator or Guarantee Institution; f. Transaction Guarantees in the form of money or securities as referred to in letter e are placed:

in an account specifically separate from the operational account of the Commodity Auction Market Operator at a financial institution or bank; or
in a special account separate from the operational account of the Guarantee Institution at a financial institution or bank in the event that the Commodity Auction Market Operator cooperates with the Guarantee Institution; and
g. payment is made on the day of the transaction and delivery of Commodities is made immediately after the transaction in accordance with the agreement of the selling participant and buying participant as stated in the sale and purchase contract. (2) Commodities as referred to in paragraph (1) letter b must be placed by the selling participant Commodity Auction Market Member:
a. in the warehouse or storage place of the Commodity Auction Market Operator; b. in a warehouse receipt system warehouse; or
c. in another warehouse or storage place approved by the Commodity Auction Market Operator.
(3) In the event that Commodities are placed in a warehouse receipt system warehouse as referred to in paragraph (2) letter b, the Commodities may be represented by a photocopy of the warehouse receipt. (4) In the event that Commodities are placed in another warehouse or storage place approved by the Commodity Auction Market Operator as referred to in paragraph (2) letter c, the Commodities may be represented by a sample of the Commodities and/or proof of goods storage containing information on the quantity and quality of the commodities. (5) The Commodity Auction Market Operator may request additional Transaction Guarantees, the conditions and amounts of which shall be further regulated in the regulations and procedures for the operation of the Commodity Auction Market.
Article 30
(1) The quality specifications of Commodities transacted in the Commodity Auction Market for Spot Settlement are determined by the Commodity Auction Market Operator in writing, which is an inseparable part of the sale and purchase contract. (2) In the event that the quality specifications of Commodities to be transacted in the Commodity Auction Market for Spot Settlement are not included in the determined Commodity quality specifications as referred to in paragraph (1), the selling participant Commodity Auction Market Member may state the Commodity quality specifications in writing, which is an inseparable part of the sale and purchase contract, after first obtaining approval from the Commodity Auction Market Operator. (3) Further provisions regarding the approval mechanism for Commodity quality specifications as referred to in paragraph (2) shall be regulated in the regulations and procedures for the operation of the Commodity Auction Market.
Article 31
(1) Commodity Auction Market Members for Spot Settlement may:
a. participate directly in the auction as selling participants and/or buying participants; or b. grant power of attorney to other parties to conduct transactions. (2) Commodity Auction Market Members who are foreign individuals and foreign business entities can only conduct transactions in the Commodity Auction Market for Spot Settlement as buying participants.
Article 32
(1) Price offers and price recording in the Commodity Auction Market for Spot Settlement use Rupiah currency.
(2) In the event that the prospective buying participant is a foreign citizen and/or a foreign business entity, the prospective selling participant may offer selling price quotations in foreign currency. (3) The Commodity Auction Market Operator must convert and record the transaction settlement price in Rupiah currency. (4) The price that occurs in Commodity Auction Market transactions for Spot Settlement is stated in the Commodity sale and purchase contract, including price variations based on quality variations. (5) The price stated in the Commodity sale and purchase contract as referred to in paragraph (4) cannot be changed by the selling participant or buying participant until the transaction is settled.
Article 33
(1) Commodity sale and purchase contracts can be in physical or electronic documents.
(2) Commodity sale and purchase contracts as referred to in paragraph (1) must first be approved by the selling participant and buying participant and signed by the parties and the auction chairman and are legally binding on both parties. (3) Commodity sale and purchase contracts as referred to in paragraph (1) shall be further regulated in the regulations and procedures for the operation of the Commodity Auction Market.
Part Three
Commodity Auction Market for Forward Settlement
Article 34
(1) The Commodity Auction Market Operator for Forward Settlement provides service and facilities to Commodity Auction Market Members for the implementation of the Commodity Auction Market through an auction system. (2) The implementation of the Commodity Auction Market through an auction system as referred to in paragraph (1) is carried out openly based on Commodity quality specifications and/or samples.
Article 35
The operation of the Commodity Auction Market for Forward Settlement shall be carried out with the following provisions:
a. transactions can only be carried out by Commodity Auction Market Members; b. the quality standards, volume, and type of Commodities transacted have been agreed upon;
c. have a transaction guarantee mechanism through a Guarantee Institution;
d. prospective selling participants and prospective buying participants must place Transaction Guarantees in the form of money or securities; e. Transaction Guarantees in the form of money or securities as referred to in letter d are placed in a special account separate from the operational account of the Guarantee Institution at a financial institution or bank; and f. payment and delivery of Commodities are carried out in accordance with the agreement of the selling participant and buying participant as stated in the sale and purchase contract.
Article 36
(1) The quality specifications of Commodities transacted in the Commodity Auction Market for Forward Settlement are determined by the Commodity Auction Market Operator in writing, which is an inseparable part of the sale and purchase contract. (2) In the event that the quality specifications of Commodities to be transacted in the Commodity Auction Market for Forward Settlement are not included in the determined Commodity quality specifications as referred to in paragraph (1), the selling participant Commodity Auction Market Member may state the Commodity quality specifications in writing, which is an inseparable part of the sale and purchase contract. (3) The quality specifications of Commodities to be transacted in the Commodity Auction Market for Forward Settlement that are not included in the Commodity quality specifications as referred to in paragraph (2) must first obtain approval from the Commodity Auction Market Operator. (4) Further provisions regarding the approval mechanism for Commodity quality specifications as referred to in paragraph (3) shall be regulated in the regulations and procedures for the operation of the Commodity Auction Market.
Article 37
(1) Commodity Auction Market Members for Forward Settlement may:
a. participate directly in the auction as selling participants and/or buying participants; or b. grant power of attorney to other parties to conduct transactions. (2) Commodity Auction Market Members who are foreign individuals and foreign business entities may resell Commodities obtained from the Commodity Auction Market for Forward Settlement.
Article 38
(1) Prospective selling participants and buying participants must place Transaction Guarantees before the auction with the Guarantee Institution. (2) The management of Transaction Guarantees is carried out by the Guarantee Institution at a financial institution or bank in the name of the Commodity Auction Market Member who receives the guarantee benefits. (3) The mechanism for placing and the amount of Transaction Guarantees as referred to in paragraph (1) shall be carried out based on the regulations and procedures for guaranteeing Commodity Auction Market transactions.
Article 39
(1) Price offers and price recording in the operation of the Commodity Auction Market for Forward Settlement use Rupiah currency.
(2) In the event that the prospective buying participant is a foreign citizen and/or a foreign business entity, the prospective selling participant may offer selling price quotations in foreign currency. (3) The Commodity Auction Market Operator for Forward Settlement must convert and record the transaction settlement price in Rupiah currency. (4) The price that occurs in Commodity Auction Market transactions for Forward Settlement is stated in the Commodity sale and purchase contract, including price variations based on quality variations. (5) The price stated in the Commodity sale and purchase contract as referred to in paragraph (4) cannot be changed by the selling participant or buying participant until the transaction is settled.
Article 40
(1) Commodity sale and purchase contracts can be in physical or electronic documents.
(2) Commodity sale and purchase contracts as referred to in paragraph (1) must first be approved by the selling participant

and the buying participant, signed by the parties as well as the auctioneer, and legally binding for both parties.
(3) The commodity sales contract as referred to in paragraph (1) is further regulated in the regulations and house rules for the organization of the Commodity Auction Market.

Article 41
(1) After the auction is conducted, the Commodity Auction Market Organizer for Deferred Settlement (Forward) must:
a. submit confirmation of transactions that have occurred during the auction to the selling and buying participants; b. prepare sales contract documents for each transaction that has occurred during the auction, including the time for realization of transaction settlement; and
c. provide information regarding the rights and obligations of each selling and buying participant for each transaction that has not yet been settled.
(2) In addition to the information as referred to in paragraph (1), the Commodity Auction Market Organizer for Deferred Settlement (Forward) must record and store the results of auction transactions as data and information in monthly activity reports. (3) After the auction is conducted, the selling and/or buying participant must pay the service fees for auction organization and transaction guarantee services established by the Commodity Auction Market Organizer for Deferred Settlement (Forward).

Article 42
(1) After the realization of auction transaction settlement, the Commodity Auction Market Organizer for Deferred Settlement (Forward) must report to the Head of Bappebti:
a. the realization of transaction settlement through monthly activity reports; and/or b. the occurrence of a breach of promise no later than 3 (three) working days after the report is received by the Commodity Auction Market Organizer. (2) After the realization of auction transaction settlement, the selling or buying participant must report to the Commodity Auction Market Organizer for Deferred Settlement (Forward):
a. the realization of transaction settlement no later than 3 (three) working days after the realization of transaction settlement occurs; and/or b. the occurrence of a breach of promise no later than 3 (three) working days after the deadline for the realization of transaction settlement.

CHAPTER IV
GUIDANCE AND DEVELOPMENT
OF COMMODITY AUCTION MARKETS

First Section
Guidance of Commodity Auction Markets

Article 43
The Head of Bappebti and/or together with regional apparatus responsible for trade at the provincial level conduct guidance for Commodity Auction Markets.

Article 44
(1) Guidance of Commodity Auction Markets by the Head of Bappebti as referred to in Article 43 is carried out by:
a. formulating and establishing norms, standards, procedures, and criteria in the organization of Commodity Auction Markets, including institutional aspects, human resources, facilities and infrastructure, and auction mechanisms; b. formulating and implementing work programs that include:

increasing the competence of human resources in the field of Commodity Auction Markets;
increasing public and business actor literacy regarding Commodity Auction Markets through socialization and education activities; and
assistance in the utilization of Commodity Auction Markets.
c. facilitating and providing approval services in the field of Commodity Auction Markets quickly and transparently in accordance with applicable regulations in the field of Commodity Auction Markets;
d. conducting periodic monitoring and evaluation of the organization of Commodity Auction Markets; e. providing awards to regional governments and/or business actors deemed to have contributed to the organization of Commodity Auction Markets; and f. establishing procedures for conducting supervision over Commodity Auction Market Organizers and Guarantee Institutions. (2) In conducting guidance of Commodity Auction Markets, the Head of Bappebti may coordinate and collaborate with relevant agencies according to their authority. (3) Coordination and collaboration with relevant agencies as referred to in paragraph (2) can be carried out in the form of teams or working groups established by the Head of Bappebti.

Article 45
(1) The implementation of supervision over Commodity Auction Market Organizers and Guarantee Institutions as referred to in Article 44 paragraph (1) letter f is carried out by Bappebti through indirect technical examinations (off-site) and/or direct technical examinations (on-site). (2) The scope of indirect technical examinations (off-site) as referred to in paragraph (1) includes evaluation of data or information regarding Commodity Auction Market Organizers and/or Guarantee Institutions obtained through reporting systems or other reporting media. (3) The scope of direct technical examinations (on-site) as referred to in paragraph (1) is conducted through direct visits to the location of Commodity Auction Market Organizers and/or Guarantee Institutions to ensure the correspondence of indirect technical examination (off-site) results and other scopes including:
a. pre-auction; b. auction implementation;
c. post-auction; and
d. other scopes as regulated in regulations in the field of Commodity Auction Markets.

Article 46
(1) Commodity Auction Market Organizers and Guarantee Institutions are required to create, maintain, and store all activity and financial records correctly and make them available at all times for examination. (2) Commodity Auction Market Organizers and Guarantee Institutions are required to report the records as referred to in paragraph (1) periodically to Bappebti. (3) Periodic reporting of records as referred to in paragraph (2) consists of:
a. monthly activity reports; b. annual activity reports; and
c. annual financial reports.
(4) Reports as referred to in paragraph (3) are submitted to Bappebti in softcopy format through the electronic reporting system provided by Bappebti. (5) In the event that the electronic reporting system provided by Bappebti experiences disruption, the reports as referred to in paragraph (3) are submitted to Bappebti in written (hard copy) format or softcopy via email.

Article 47
(1) Monthly activity reports as referred to in Article 46 paragraph (3) letter a must be submitted to Bappebti no later than 7 (seven) working days after the end of the reporting period. (2) Monthly activity reports as referred to in paragraph (1) must contain at least data and information regarding:
a. membership data; b. auction organization activities and transaction guarantee activities;
c. information related to commodities being auctioned; and
d. auction transaction data recordings.
(3) Monthly activity reports as referred to in paragraph (1) are prepared using the format as contained in Appendix VII which is an inseparable part of this Agency Regulation.

Article 48
(1) Annual activity reports as referred to in Article 46 paragraph (3) letter b must be submitted to Bappebti no later than 90 (ninety) days after the end of the reporting year. (2) In the event that the final date for submission of annual activity reports as referred to in paragraph (1) falls on a holiday, the annual activity report is submitted on the next working day. (3) Annual activity reports as referred to in paragraph (1) must contain at least data and information regarding:
a. organization and human resources; b. activities concerning policies, procedures, and work systems;
c. membership data;
d. activities concerning auction organization and transaction guarantee activities; and e. transaction data recordings.

Article 49
(1) Annual financial reports as referred to in Article 46 paragraph (3) letter c must be submitted to Bappebti no later than 90 (ninety) days after the end of the reporting year. (2) In the event that the final date for submission of annual financial reports as referred to in paragraph (1) falls on a holiday, the annual financial report is submitted on the next working day. (3) Annual financial reports as referred to in paragraph (1) consist of at least:
a. financial position reports; b. profit and loss and other income statements; and
c. statements of changes in equity; and
d. cash flow statements.

Article 50
(1) Guidance of Commodity Auction Markets by the Head of Bappebti together with regional apparatus responsible for trade at the provincial level as referred to in Article 43 is carried out by:
a. strengthening coordination and collaboration in the implementation of Commodity Auction Market guidance policy programs among relevant sectors at the regional level; b. increasing the competence of human resources in the field of Commodity Auction Markets through training and assistance programs in the field of Commodity Auction Markets;
c. encouraging the expansion of markets for regional flagship commodities through synergy of partnership programs, warehouse receipt systems, and Commodity Auction Markets;
d. providing socialization and education to the public and business actors regarding Commodity Auction Markets; e. providing assistance, assistance, and technical guidance to business actors in utilizing Commodity Auction Markets; f. promoting and encouraging the utilization of Commodity Auction Markets in commodity trade by business actors; g. facilitating the improvement of competitiveness of business actors and regional flagship commodities in Commodity Auction Markets; and/or h. strengthening the connectivity of the Commodity Auction Market ecosystem among regions in supporting inter-regional trade. (2) In conducting guidance of Commodity Auction Markets, the Head of Bappebti together with regional apparatus responsible for trade at the provincial level may coordinate and collaborate with regional apparatus at the district/city level.

Second Section
Development of Commodity Auction Markets

Article 51
The Head of Bappebti and/or together with regional apparatus responsible for trade at the provincial level conduct development of Commodity Auction Markets.

Article 52
(1) Development of Commodity Auction Markets by the Head of Bappebti as referred to in Article 51 can be carried out by:
a. conducting studies as a basis for formulating development policies for Commodity Auction Markets; b. formulating a roadmap for the development of the trade ecosystem through the integration of Commodity Auction Markets with warehouse receipt systems and other trading instruments;
c. developing commodity standardization and information technology infrastructure in the implementation of Commodity Auction Markets; and/or
d. developing forms of Commodity Auction Market mechanisms to facilitate business actors in utilizing Commodity Auction Markets as a trading venue. (2) In conducting development of Commodity Auction Markets, the Head of Bappebti may coordinate and collaborate with relevant agencies according to their authority.

Article 53
(1) Development of Commodity Auction Markets by the Head of Bappebti together with regional apparatus responsible for trade at the provincial level as referred to in Article 51 is carried out by:
a. aligning policies and work programs for the development of Commodity Auction Markets at the central level with those at the regional level; b. mapping the potential of regional flagship commodities to be designated as commodities traded in Commodity Auction Markets;
c. building a collaboration pattern between warehouse managers of the warehouse receipt system and Commodity Auction Market Organizers in marketing commodities that can be stored in the warehouse receipt system;
d. conducting studies related to the utilization of Commodity Auction Markets as part of the ecosystem of regional flagship commodity trade; and/or e. developing the implementation of Commodity Auction Markets that are easily accessible by the micro, small, and medium enterprise sector, cooperatives, and business groups. (2) In conducting development of Commodity Auction Markets, the Head of Bappebti together with regional apparatus responsible for trade at the provincial level may coordinate and collaborate with agencies at the district/city level.

CHAPTER V
DISPUTE RESOLUTION

Article 54
(1) In the event of a dispute between the Parties in the organization of Commodity Auction Markets, settlement is first conducted through deliberation to reach consensus. (2) In the event that deliberation as referred to in paragraph (1) results in a peace agreement, the peace agreement is final and binding. (3) In the event that deliberation as referred to in paragraph (1) does not result in a peace agreement, the disputing Parties may resolve the dispute through an arbitration body or court.

CHAPTER VI
SANCTIONS

Article 55
(1) Commodity Auction Market Organizers who violate provisions as referred to in Article 8 paragraph (2), Article 12 paragraph (1), Article 46 paragraph (1) and (2), Article 47 paragraph (1), Article 48 paragraph (1), and Article 49 paragraph (1) are subject to administrative sanctions. (2) Guarantee Institutions that violate provisions as referred to in Article 17 paragraph (2), Article 20 paragraph (1), Article 46 paragraph (1) and (2), Article 47 paragraph (1), Article 48 paragraph (1), and Article 49 paragraph (1) are subject to administrative sanctions. (3) Administrative sanctions as referred to in paragraph (1) and paragraph (2) may consist of:
a. written warnings; b. suspension of business activities; and
c. revocation of business licenses.
(4) The imposition of administrative sanctions as referred to in paragraph (3) is carried out:
a. progressively; and b. non-progressively.
(5) The imposition of administrative sanctions is based on the results of examinations conducted by the Bappebti examination team.
(6) The determination of the imposition of administrative sanctions as referred to in paragraph (3) contains at least information regarding:
a. the legal basis for the imposition of administrative sanctions; b. the violation committed;
c. the type of administrative sanction; and
d. corrective steps which may include orders to perform or not perform certain acts or activities, including orders to replace directors, commissioners, and/or shareholders, or management. (7) Corrective steps as referred to in paragraph (6) letter d are included in the determination of the imposition of administrative sanctions in the form of written warnings or suspension of business activities.

Article 56
(1) The imposition of progressive administrative sanctions as referred to in Article 55 paragraph (4) letter a is imposed on Commodity Auction Market Organizers and Guarantee Institutions proven to have violated or breached provisions regarding licensing or other provisions regulated in regulations in the field of Commodity Auction Markets. (2) The imposition of progressive administrative sanctions for Commodity Auction Market Organizers and Guarantee Institutions proven to have violated or breached provisions regarding licensing or other administrative provisions regulated in regulations in the field of Commodity Futures Trading as referred to in paragraph (1) is subject to the first stage of administrative sanction in the form of a written warning. (3) The imposition of administrative sanctions in the form of written warnings as referred to in paragraph (2) is imposed a maximum of 3 (three) times, considering the substance, parties, and violations. (4) Written warnings as referred to in paragraph (3) are each given a maximum period of 30 (thirty) days. (5) In the event that a Commodity Auction Market Organizer or Guarantee Institution has been subject to written warnings a maximum of 3 (three) times and has not taken corrective steps, they are subject to administrative sanctions in the form of suspension of business activities. (6) The imposition of administrative sanctions in the form of suspension of business activities as referred to in paragraph (5) is imposed for a maximum period of 90 (ninety) days. (7) If within the period as referred to in paragraph (6), the Commodity Auction Market Organizer or Guarantee Institution takes corrective steps, Bappebti revokes the determination of the imposition of administrative sanctions in the form of suspension of business activities and reactivates the business activities. (8) In the event that a Commodity Auction Market Organizer or Guarantee Institution subject to suspension of business activities sanctions does not take corrective steps within the period as referred to in paragraph (6), they are subject to administrative sanctions in the form of revocation of business licenses.

Article 57
(1) The imposition of non-progressive administrative sanctions as referred to in Article 55 paragraph (4) letter b may consist of suspension of business activities and revocation of business licenses. (2) The imposition of non-progressive administrative sanctions in the form of suspension of business activities and revocation of business licenses as referred to in paragraph (1) may be imposed on Commodity Auction Market Organizers or Guarantee Institutions proven to:
a. be brought to court for being accused of violating regulations in the field of Commodity Auction Markets; b. be sentenced to imprisonment based on a court decision that has permanent legal force;
c. provide false information or statements in license applications or reports submitted to Bappebti;
d. misuse Transaction Guarantees; and/or e. commit other serious category violations based on examination results.
(3) The imposition of non-progressive administrative sanctions on Commodity Auction Market Organizers and Guarantee Institutions proven to commit serious category violations based on examination results as referred to in paragraph (2) letter e, considering:
a. the type of violation; b. other negative impacts caused; and/or
c. the accumulation of previous violations committed.
(4) The imposition of administrative sanctions in the form of suspension of business activities as referred to in paragraph (1) is imposed for a maximum period of 90 (ninety) days. (5) If within the period as referred to in paragraph (4), the Commodity Auction Market Organizer or Guarantee Institution takes corrective steps, Bappebti revokes the determination of the imposition of administrative sanctions in the form of suspension of business activities and reactivates the business activities. (6) In the event that a Commodity Auction Market Organizer or Guarantee Institution subject to suspension of business activities sanctions does not take corrective steps within the period as referred to in paragraph (4), they are subject to administrative sanctions in the form of revocation of business licenses.

Article 58
Members of Commodity Auction Markets who violate provisions as referred to in Article 25 and Article 26 are subject to sanctions in accordance with the regulations and house rules of the Commodity Auction Market Organizer.

CHAPTER VII
TRANSITIONAL PROVISIONS

Article 59
(1) Business licenses in the field of Commodity Auction Markets issued before the implementation of this Agency Regulation are declared to remain valid as long as they continue to conduct Commodity Auction Market activities and within a maximum period of 1 (one) year from the start of implementation of this Agency Regulation must adjust to the provisions in this Agency Regulation. (2) Regional apparatus responsible for trade at the provincial level may act temporarily as Commodity Auction Market Organizers until transferred to Commodity Auction Market Organizers in the form of limited liability companies or cooperatives no later than December 13, 2027.

CHAPTER VIII
CLOSING PROVISIONS

Article 60
Upon the implementation of this Agency Regulation:

The Agency Regulation of the Commodity Futures Trading Supervisory Agency Number 6 of 2018 concerning Approval of Clearing and Guarantee Institutions for Commodity Auction Markets;
The Agency Regulation of the Commodity Futures Trading Supervisory Agency Number 7 of 2018 concerning Approval of Commodity Auction Market Organizers; and
The Agency Regulation of the Commodity Futures Trading Supervisory Agency Number 3 of 2021 concerning Technical Provisions for the Organization of Commodity Auction Markets with Immediate Delivery (Spot),
are repealed and declared invalid.

Article 61
This Agency Regulation begins to be implemented on the date of establishment.
Established in Jakarta on October 13, 2026

HEAD OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY, Signed, TIRTA KARMA SENJAYA

Copy in accordance with the original
Commodity Futures Trading Supervisory Agency
Head of the Bureau for Commodity Futures Trading Legislation, Warehouse Receipt Systems, and Commodity Auction Markets, Rifah Ariny

APPENDIX I
AGENCY REGULATION OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY NUMBER 3 OF 2026 CONCERNING TECHNICAL PROVISIONS FOR THE ORGANIZATION OF COMMODITY AUCTION MARKETS GUIDELINES FOR FORMULATING REGULATIONS AND HOUSE RULES FOR THE ORGANIZATION OF COMMODITY AUCTION MARKETS

Regulations and House Rules for the Organization of Commodity Auction Markets must contain at least:

Commodity Auction Market Membership must contain at least:
a. classification/type of membership, membership requirements for Commodity Auction Markets; b. procedures for registration and acceptance as Members of Commodity Auction Markets;
c. requirements ensuring the integrity, reputation, and track record of prospective Members of Commodity Auction Markets;
d. rights and obligations of Members of Commodity Auction Markets; e. procedures for resignation, suspension of membership, revocation of membership, and reactivation of Members of Commodity Auction Markets; and f. membership committee, supervision, discipline, and sanctions for Members of Commodity Auction Markets as well as procedures for dispute resolution.
Organization of Commodity Auction Markets must contain at least:
a. type, quality requirements, and traceability of Commodities that are the object of the auction; b. transaction mechanisms in Commodity Auction Markets;
c. guarantee mechanisms and submission of Transaction Guarantees in Commodity Auction Markets;
d. transaction guarantee, and transaction settlement in Commodity Auction Markets; e. determination of schedules and sessions for auction organization; f. facilities used for auctions; g. transaction settlement mechanisms, which include payment mechanisms and delivery mechanisms (place of commodity delivery); and h. mechanisms and places for commodity delivery.
Violations and sanctions which at least include:
a. types of violations; b. procedures for determining the occurrence of violations; and
c. imposition of sanctions.
Regulations in emergency and disaster situations.
Definitions or terms used in the Organization of Commodity Auction Markets.

In the event that the Commodity Auction Market Organizer has a Guarantee Unit, the regulations and house rules must regulate regarding the transaction guarantee mechanism in Commodity Auction Markets, containing at least:

Registration and requirements for Transaction Guarantees;
Placement of Transaction Guarantees; and
Reporting and settlement of Transaction Guarantees.

Regulations and house rules for the organization of Commodity Auction Markets may only be implemented after receiving approval from Bappebti.

HEAD OF THE COMMODITY FUTURES TRADING SUPERVISORY AGENCY, Signed, TIRTA KARMA SENJAYA

APPENDIX II
REGULATION OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY NUMBER 3 YEAR 2026 ON TECHNICAL PROVISIONS FOR THE ORGANIZATION OF COMMODITY AUCTION MARKETS

APPLICATION DOCUMENTS FOR APPROVAL AS A COMMODITY AUCTION MARKET ORGANIZER Form Number: P.PLK-01 APPLICATION FOR APPROVAL AS A COMMODITY AUCTION MARKET ORGANIZER
Number: ......20....
Attachment:
Subject: Application for Approval as Organizer of Commodity Auction Market Spot / Forward *) ……………… To:
Head of the Commodity Futures Trading Regulatory Agency in Jakarta

Hereby, we, the undersigned below, as the Board of Directors/Management of ……….…… acting on behalf of and for the Limited Liability Company/Cooperative)* ……………… submit an application to obtain approval as an Organizer of a Spot/Forward Commodity Auction Market)*.

As consideration materials, we attach the following documents:

……….. (Form Number P.PLK-01.01);
……….. (Form Number P.PLK-01.02);
……….. (Form Number P.PLK-01.03);
……….. (Form Number P.PLK-01.04); and
……….. (Form Number P.PLK-01.05),
along with the required supporting documents.

This application is submitted, and we thank you for your attention.

Applicant,
(Clear Name)
......
(Position)
*) Choose one

Form Number: P.PLK-01.01
LIST OF DOCUMENT COMPLETENESS FOR THE APPLICATION FOR APPROVAL AS A COMMODITY AUCTION MARKET ORGANIZER FOR SPOT/FORWARD *) No. Document Yes No

Copy of Business Identification Number (NIB).
Copy of the deed of establishment of a limited liability company or cooperative and amendments that have been approved by the Ministry responsible for government affairs in the field of law.
Company profile covering:
a. vision and mission, and business description; b. list of names of Commissioners/Supervisors and Directors/Management along with Curricula Vitae; and
c. company organizational structure (including the structure in the Commodity Auction Market transaction guarantee business unit), as well as the composition of the company's directors/management and company human resources.
Copy of the Company Taxpayer Identification Number (NPWP).
Document of ownership or lease agreement for facilities and infrastructure.
Accounting balance sheet for 3 (three) months prior to the application for approval and audited financial statements for the previous year for companies that have been operating for more than 1 (one) year.
Financial projections and business plan for 3 (three) years.
Written statement possessing human resources with competencies proven by training certificates or work experience letters in the field of Commodity Trading.
Draft regulations and house rules for the organization of the Commodity Auction Market.
Written statement regarding the readiness of hardware and software systems for the organization of the Commodity Auction Market for auctions conducted through electronic media or online.
Draft cooperation agreement between the prospective Commodity Auction Market Organizer and the Guarantee Institution, if the prospective Commodity Auction Market Organizer implements transaction guarantee mechanisms in cooperation with a Guarantee Institution.
*) Choose one

Form Number: P.PLK-01.02
APPLICATION FORM FOR APPROVAL AS A COMMODITY AUCTION MARKET ORGANIZER FOR SPOT/FORWARD *)

Applicant Name: ......
Identity Number: ......
(ID Card/Passport) *)
Applicant Position: ......
Applicant Address: ......
......
(Street Name & Number)
...... - 
(City & Postal Code)
Company Name: ......
Taxpayer Identification Number: ......
Company Capital:
a. Authorized Capital: ......
b. Paid-up Capital: ......
Company Address: ......
......
(Street Name & Number)
...... - 
(City & Postal Code)
Telephone Number, e-mail
and Fax: ......
......, 20......
Applicant,
(Clear Name)
......
(Position)
*) Choose one

Form Number: P.PLK-01.03
PROFILE FORM OF COMMODITY AUCTION MARKET ORGANIZER FOR SPOT/FORWARD *) A. COMPANY IDENTITY

Company Name ......
Company Address
a. Street and Number ......
b. RT/RW, Village/Sub-district ......
c. District/Postal Code ......
d. Regency/City ......
e. Province ......
f. Phone No., Fax, and email ......
Type of Business Activity ......
B. CAPITAL COMPOSITION
Limited Liability Company
a. Authorized Capital ......
b. Paid-up Capital ......
c. Placed Capital ......
Cooperative
a. Basic Savings ......
b. Mandatory Savings ......
c. Capital Reserve ......
d. Grants ......
C. COMPOSITION OF COMMISSIONERS/SUPervisors OF LIMITED LIABILITY COMPANY/REGIONAL ENTERPRISE/SUPERVISORS OF COOPERATIVE*)
FULL NAME POSITION PLACE/DATE OF BIRTH ADDRESS NIK 1.

D. COMPOSITION OF DIRECTORS OF LIMITED LIABILITY COMPANY/REGIONAL ENTERPRISE/MANAGEMENT OF COOPERATIVE*) FULL NAME POSITION PLACE/DATE OF BIRTH ADDRESS NIK 1. 2. 3. E. COMPOSITION OF SHAREHOLDERS OF LIMITED LIABILITY COMPANY/REGIONAL ENTERPRISE FULL NAME NIK/NPWP ADDRESS OWNERSHIP COMPOSITION (%) 1. 2.
......, 20......
Applicant,
(Clear Name)
......
(Position)
*) Choose one

Form Number: P.PLK-01.04
INTEGRITY QUESTIONNAIRE FOR DIRECTORS/MANAGEMENT OF COMMODITY AUCTION MARKET ORGANIZER FOR SPOT/FORWARD *)
I. INSTRUCTIONS FOR ANSWERING QUESTIONS

All questions must be answered by the Applicant.
Signed by the Directors/Management of the Commodity Auction Market Organizer on stamped paper.
Mark an X in the answer box provided according to your choice.
(For every "Yes" answer, the Applicant must provide detailed and clear explanations)
II. INTEGRITY OF THE MANAGEMENT OF THE COMMODITY AUCTION MARKET ORGANIZER
Answer the following questions:
Is the company controlled, directly or indirectly, by an individual who:
has been warned or had their license revoked by the competent authority?
 yes  no
has ever been sentenced for proven criminal acts in the economic field including trade, industry, agriculture, banking, insurance, capital market, futures trading, or taxation within the last 5 years?
 yes  no
has been declared bankrupt or served as a Director or Commissioner of a limited liability company declared at fault causing a company to be declared bankrupt within the last 5 years?
 yes  no
is currently undergoing examination or trial for suspected criminal acts in the economic field including trade, industry, or agriculture, or in the financial field including banking, insurance, capital market, futures trading, or taxation?
 yes  no
......, 20......
Directors of PLK Organizer, stamped
......
(Clear Name)
*) Choose one

Form Number: P.PLK-01.05
BOARD OF DIRECTORS STATEMENT LETTER ON CONTROLLERS We, the undersigned below:

Name:
Identity Number/ID Card:
NIB:
Position: President Director
Full Address:
Phone & Fax Number:
Name:
Identity Number/ID Card:
NIB:
Position: Director
Full Address:
Phone & Fax Number:
Based on the Company's Articles of Association, acting on behalf of and for PT. ...... located at ...... hereby state truthfully that PT. ...... is controlled directly or indirectly by an individual who:
a. has good character and morality; b. has knowledge in the field of Commodity Auction Markets;
c. has never been declared bankrupt, or served as a director, management, or supervisory commissioner in a Company declared bankrupt within the last 5 (five) years;
d. has never been sentenced based on a final court decision for committing criminal acts in the economic or financial field with a penalty threat of more than 5 (five) years; and e. has never been proven to violate regulations concerning Commodity Auction Markets.
......, 20......
Board of Directors of PT. ......
Stamp
Clear Name Clear Name
(......) (......)
Position Position

Form Number: P.PLK-02
MINUTES OF EXAMINATION
OF PHYSICAL FACILITIES AND INFRASTRUCTURE OF THE COMMODITY AUCTION MARKET ORGANIZER FOR SPOT/FORWARD *) The undersigned below:

Name:..…………
NIP:..…………
Position:..…………
Name:………………
NIP:………………
Position:………………
Name:………………
NIP:......
Position:………………
In accordance with the letter of assignment from the Head of the Commodity Futures Trading Regulatory Agency Number ……………. dated ….……..., we have conducted an examination of the facilities and infrastructure owned by PT./Cooperative *) ……………… to conduct activities as an Organizer of a Spot/Forward Commodity Auction Market *) with details of company completeness as attached (Form Number: P.PLK02.01). This Minutes of Examination is made truthfully for use as appropriate. ......, ………….…20 …... Physical Facilities and Infrastructure Examination Team The Examined:
……………… 1. ………………
Company Stamp
( ………………) 2. ………………
Position
………………
*) Choose one

Form Number: P.PLK-02.01
LIST OF COMPLETENESS
FOR COMMODITY AUCTION MARKET ORGANIZER FOR SPOT/FORWARD *)
I. Company Name: ......
Full Address: ......
(Street Name & Number)
...... -
(City & Postal Code)
II. Shareholder List

List of individual shareholder names
No. Full Name Address NPWP Amount (%)
List of corporate shareholders
No. Company Name Address NPWP Amount (%)
III. Board of Directors/Management List
No. Full Name Position Address NPWP
IV. Board of Commissioners/Supervisors List
No. Full Name Position Address NPWP
V. List of Company Facilities and Infrastructure
No. Type of Infrastructure and Facilities Description Remarks
Organizational structure and list of
Human Resources related to the Organization of Commodity Auction Markets.
Standard Operating Procedures
related to the organization of the Commodity
Auction Market.
Facilities and Infrastructure:

office;
warehouse or Commodity
storage location;
office equipment & supplies;
telecommunications facilities,
internet network, computers, etc.

Commodity Auction Market organization system, in the event
that the Commodity Auction Market is organized through electronic media.

......, ......20....
Physical Facilities and Infrastructure Examination Team The Examined:
……………… 1. ………………
Company Stamp
( ………………) 2. ………………
Position
3. ………………
*) Choose one

Form Number: P.PLK-03
DECISION
OF THE HEAD OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY NUMBER ……………… ON APPROVAL AS A COMMODITY AUCTION MARKET ORGANIZER FOR IMMEDIATE SETTLEMENT (SPOT)/FUTURE SETTLEMENT (FORWARD) ) TO ……………… HEAD OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY, Considering: Letter Number ………… dated ………………. regarding ...... submitted by PT./Cooperative) ...... has met the requirements and based on that can be considered for approval as an Organizer of a Commodity Auction Market for Immediate Settlement (Spot)/Future Settlement (Future) *) Recalling: 1. Law Number 9 of 2006 concerning the Warehouse Receipt System (State Gazette of the Republic of Indonesia Year 2006 Number 59, Supplement to the State Gazette of the Republic of Indonesia Number 4630) as amended by Law Number 9 of 2011 concerning Amendment to Law Number 9 of 2006 concerning the Warehouse Receipt System (State Gazette of the Republic of Indonesia Year 2011 Number 78, Supplement to the State Gazette of the Republic of Indonesia Number 5231);
2. Law Number 7 of 2014 concerning Trade (State Gazette of the Republic of Indonesia Year 2014 Number 45, Supplement to the State Gazette of the Republic of Indonesia Number 5512);
3. Presidential Regulation Number 75 of 2022 concerning the Arrangement, Development, and Development of Commodity Auction Markets (State Gazette of the Republic of Indonesia Year 2022 Number 116);
4. Presidential Regulation Number 168 of 2024 concerning the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2024 Number 364);
5. Minister of Trade Regulation Number 33 of 2024 concerning the Implementation of Presidential Regulation Number 75 of 2022 concerning the Arrangement, Development, and Development of Commodity Auction Markets (State Newspaper of the Republic of Indonesia Year 2024 Number 945);
6. Minister of Trade Regulation Number 6 of 2025 concerning the Organization and Work Structure of the Ministry of Trade (State Newspaper of the Republic of Indonesia Year 2025 Number 53); and
7. Commodity Futures Trading Regulatory Agency Regulation Number 3 of 2026 concerning Technical Provisions for the Organization of Commodity Auction Markets;

DECIDES:
Establish: DECISION OF THE HEAD OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY REGARDING APPROVAL AS A COMMODITY AUCTION MARKET ORGANIZER FOR IMMEDIATE SETTLEMENT (SPOT)/FUTURE SETTLEMENT (FORWARD) *) TO ………………
Article 1
Grant Approval as an Organizer of a Commodity Auction Market for Immediate Settlement (Spot)/Future Settlement (Future) *) to ...... with the head office address at
......
Article 2
This approval is valid as long as the concerned party remains active in carrying out activities according to its function as referred to in Article 1.
Article 3
This Decision of the Head of the Commodity Futures Trading Regulatory Agency takes effect on the date of establishment.
Established in Jakarta on date
HEAD OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY, ……………… Copy:

Minister of Trade of the Republic of Indonesia;
Secretary General of the Ministry of Trade;
Inspector General of the Ministry of Trade;
High-Level Officials within Bappebti; and
Head of the Local Trade Office

Form Number: P. PLK-04
Number: Jakarta, ......20....
Attachment: ---
Subject: Rejection of
Application for Approval as Organizer of Commodity Auction Market for Immediate Settlement (Spot)/ Future Settlement (Future) *) To:
……………… in
......
Referring to your letter Number: ...... dated
...... regarding ......, after verification, study, or assessment of the submitted requirement documents as well as examination of physical facilities and infrastructure, Bappebti conveys rejection of your application because it does not meet the following requirements:

......
......
......
We hope for your understanding.
HEAD OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY,
......
Copy:
Minister of Trade of the Republic of Indonesia;
Secretary General of the Ministry of Trade;
Inspector General of the Ministry of Trade;
High-Level Officials within Bappebti; and
Head of the Local Trade Office.
HEAD OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY, Signed.
TIRTA KARMA SENJAYA
Copy matches the original
Commodity Futures Trading Regulatory Agency
Head of the Legal Affairs Bureau of Commodity Futures Trading, Warehouse Receipt System, and Commodity Auction Markets, Rifah Ariny

APPENDIX III
REGULATION OF THE COMMODITY FUTURIES TRADING REGULATORY AGENCY NUMBER 3 YEAR 2026 ON TECHNICAL PROVISIONS FOR THE ORGANIZATION OF COMMODITY AUCTION MARKETS

Form Number: P.PLK-05
REPORT ON CHANGE OF NAME AND/OR ADDRESS OF THE ORGANIZER OF THE COMMODITY AUCTION MARKET
Number: …………, ......20.....
Attachment:
Subject: Report on Change of Name and/or Address *) Organizer of Commodity Auction Market for Immediate Settlement (Spot)/Future Settlement (Forward) *)
......
To:
Head of the Commodity Futures Trading Regulatory Agency in Jakarta

Hereby, we, the undersigned below, acting on behalf of and for PT./Cooperative*) ...... submit a report on the change of Name and/or Address *) of the Organizer of the Commodity Auction Market, as follows:

Old Name/Address *) of the Organizer
of the Commodity Auction Market
: ......
New Name/Address *) of the Organizer
of the Commodity Auction Market
: ......
Furthermore, we complete this report by attaching the list of document completeness for the report on the change of name and/or address *) of the Organizer of the Commodity Auction Market (Form Number P.PLK-05.01) along with the required supporting documents. We submit this report, and we thank you for your attention. Applicant, (Clear Name)
......
(Position)
*) Choose one

Form Number: P.PLK-05.01
LIST OF DOCUMENT COMPLETENESS FOR THE REPORT
ON CHANGE OF NAME AND/OR ADDRESS *) OF THE ORGANIZER OF THE COMMODITY AUCTION MARKET No. Document Yes No

Copy of the company's deed of establishment along with all
amendments that have been approved by the competent official;
Copy of Business Identification Number (NIB)
Copy of the Company Taxpayer Identification Number (NPWP);
Company profile covering:
a. vision and mission, and business description; b. company organizational structure (including the structure in the Commodity Auction Market business unit), as well as the composition of the Board of Directors/Management of the company and company human resources; and
c. list of names of Directors/Management along with Curricula Vitae.
*) Choose one

Form Number: P.PLK-06
REPORT ON CHANGE OF MANAGEMENT/SUPERVISORS/DIRECTORS/ COMMISSIONERS/SHAREHOLDERS OF THE COMMODITY AUCTION MARKET ORGANIZER
Number: …………, ......20......
Attachment:
Subject: Report on Change of Management/
Supervisors/Directors/Commissioners/
Shareholders
Organizer of the Commodity Auction
Market (Spot/Forward) *)
......
To:
Head of the Commodity Futures Trading Regulatory Agency in Jakarta

Hereby, we, the undersigned below:

Old Management/Supervisors/Directors/Commissioners
a. Name: ………………
Position: ……………… b. Name: ………………
Position: ………………
c. Name: ………………
Position: ………………
New Management/Supervisors/Directors/Commissioners
a. Name: ………………
Position: ……………… b. Name: ………………
Position: ………………
c. Name: ………………
Position: ………………
acting on behalf of and for PT./Cooperative ......
submit a report on the change of Management/Supervisors/Directors/Commissioners/
Shareholders of PT/Cooperative ......
Furthermore, we complete this report by attaching the following documents:
List of document completeness (Form Number P.PLK-06.01); and
Integrity questionnaire for the management of the PLK Organizer in the context
of the change of management of the PLK Organizer (Form Number P.PLK-06.02).
We submit this report, and we thank you for your attention.
Applicant,
(Clear Name)
......
(Position)

Form Number: P.PLK-06.01
LIST OF DOCUMENT COMPLETENESS
IN THE CONTEXT OF CHANGE OF MANAGEMENT/SUPERVISORS/DIRECTORS/ COMMISSIONERS/SHAREHOLDERS OF THE COMMODITY AUCTION MARKET ORGANIZER No. Document Yes No

copy of the company's amended articles of association
that has included the change of Management/
Supervisors/Directors/Commissioners/Shareholders reported;
list of names and data of Management/
Supervisors/Directors/Commissioners/Shareholders, including:
a. curriculum vitae; b. copy of the latest formal education diploma; and
c. copy of Identity Card/Passport.
Form Number: P.PLK-06.02
INTEGRITY QUESTIONNAIRE FOR DIRECTORS/MANAGEMENT OF THE COMMODITY AUCTION MARKET ORGANIZER IN THE CONTEXT OF CHANGE OF DIRECTORS/MANAGEMENT OF THE COMMODITY AUCTION MARKET ORGANIZER
I. INSTRUCTIONS FOR ANSWERING QUESTIONS
All questions must be answered by the applicant.
Signed by the Directors of the PLK Organizer on stamped paper.
Mark an X in the answer box provided according to your choice.
(For every "Yes" answer, the Applicant must provide explanations in detail and clearly)
II. INTEGRITY OF THE MANAGEMENT OF THE PLK ORGANIZER
Answer the following questions:
Is the company controlled, directly or indirectly, by an individual who:
has been warned or had their license revoked by the competent authority?
 yes  no
has ever been sentenced for proven criminal acts in
the economic field including trade, industry, agriculture, banking, insurance, capital market, futures trading, or taxation?
 yes  no
has been declared bankrupt or served as a Director or Commissioner of a Limited Liability
Company declared at fault causing a company to be declared bankrupt?

 yes  no
4. is currently under investigation or trial for allegedly committing a criminal offense in the economic sector, including trade, industry, or agriculture, or the financial sector, including banking, insurance, capital markets, futures trading, or taxation?
 yes  no
......, 20......
Management of PLK Operator, stamp
......
(full name)
HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, Signed.
TIRTA KARMA SENJAYA
Copy in accordance with the original
Commodity Futures Trading Regulatory Agency
Head of the Bureau of Commodity Futures Trading, Warehouse Receipt System, and Commodity Auction Market Legislation, Rifah Ariny

APPENDIX IV
REGULATION OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY NUMBER 3 YEAR 2026 CONCERNING TECHNICAL PROVISIONS FOR THE IMPLEMENTATION OF COMMODITY AUCTION MARKETS TECHNICAL GUIDELINES FOR DRAFTING RULES AND PROCEDURES FOR COMMODITY AUCTION MARKET TRANSACTION GUARANTEES The Rules and Procedures for Commodity Auction Market Transaction Guarantees must at least contain:

Membership must at least contain:
a. membership classification/type, membership requirements for Guarantee Institutions; b. procedures for registration and admission as a Member of a Guarantee Institution;
c. rights and obligations of Members of Guarantee Institutions; and
d. termination of membership in a Guarantee Institution.
Implementation of Commodity Auction Market transaction guarantees must at least contain:
a. registration and requirements for Transaction Guarantees; b. amount of Transaction Guarantees;
c. transaction guarantee fees;
d. mechanism for placement and use of Transaction Guarantees; and e. mechanism for guaranteeing and settling transaction guarantees.
Violations and Sanctions which at least include:
d. types of violations; e. procedures for determining the occurrence of violations; and f. imposition of sanctions.
Rules in hazardous and emergency situations.
Definitions or terms used in the Implementation of Commodity Auction Market transaction guarantees in the Operation of Commodity Auction Markets.
The Rules and Procedures for Commodity Auction Market Transaction Guarantees can only be enforced after obtaining Bappebti's approval.
HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, Signed.
TIRTA KARMA SENJAYA
Copy in accordance with the original
Commodity Futures Trading Regulatory Agency
Head of the Bureau of Commodity Futures Trading, Warehouse Receipt System, and Commodity Auction Market Legislation, Rifah Ariny

APPENDIX V
REGULATION OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY NUMBER 3 YEAR 2026 CONCERNING TECHNICAL PROVISIONS FOR THE IMPLEMENTATION OF COMMODITY AUCTION MARKETS Form Number: LP.PLK-01 APPLICATION FOR APPROVAL AS A COMMODITY AUCTION MARKET GUARANTEE INSTITUTION
Number : ......20....
Attachment :
Subject : Application for Approval as a Commodity Auction Market Guarantee Institution ……………… To, Head of the Commodity Futures Trading Regulatory Agency in - Jakarta Hereby, we, the undersigned, as the Board of Directors of ……………… acting for and on behalf of the Limited Liability Company ………………, submit an application to obtain Approval as a Commodity Auction Market Guarantee Institution. For consideration, we attach the following documents:

……….. (Form Number LP.PLK-01.01);
……….. (Form Number LP.PLK-01.02);
……….. (Form Number LP.PLK-01.03);
……….. (Form Number LP.PLK-01.04); and
……….. (Form Number P.PLK-01.05).
along with the required supporting documents.
We submit this application and thank you for your attention.

Applicant,
(Full Name)
......
(Position)

Form Number: LP.PLK-01.01
LIST OF DOCUMENT COMPLETENESS FOR THE APPLICATION FOR APPROVAL AS A COMMODITY AUCTION MARKET GUARANTEE INSTITUTION No Document Present Not Present

Copy of Business Identification Number (NIB).
Copy of the company's deed of establishment along with all its amendments that have been legalized by the ministry responsible for legal affairs.
Company profile which includes:
a. vision and mission, and business description; b. list of names of Commissioners and Directors along with Curriculum Vitae; and
c. company organizational structure, as well as the composition of the company's directors/management and company human resources.
Copy of the company's Taxpayer Identification Number (NPWP).
Ownership documents or lease agreements for facilities and infrastructure
Financial projections and business plan for the next 3 (three) years of the company, including business plans and projections related to transaction guarantee activities in the Commodity Auction Market
Balance sheet for 3 (three) months prior to the submission of approval and audited financial statements for the previous year for companies that have been operating for more than 1 (one) year.
Financial projections and business plan for 3 (three) years.
Written statement of having human resources with competencies that can support the implementation of guarantees in the Commodity Auction Market, accompanied by supporting documents such as training certificates, or work experience letters.
Draft rules and procedures for Commodity Auction Market transaction guarantees.
Draft cooperation agreement between the Guarantee Institution and the prospective Commodity Auction Market Operator.

Form Number: LP.PLK-01.02
APPLICATION FORM
FOR APPROVAL AS A GUARANTEE INSTITUTION
FOR COMMODITY AUCTION MARKETS

Applicant's Name : ......
Identity Number : ......
(ID Card/Passport) *)
Applicant's Position : ......
Applicant's Address : ......
......
(Street Name & Number)
...... - 
(City & Postcode)
Company Name : ......
Taxpayer Identification Number : ......
Company Capital:
a. Authorized Capital :......
b. Paid-up Capital :......
Company Address : ......
......
(Street Name & Number)
...... - 
(City & Postcode)
Telephone Number, e-mail
and Facsimile : ......
......, 20......
Applicant,
(Full Name)
......
(Position)

Form Number: LP.PLK-01.03
PROFILE FORM
FOR COMMODITY AUCTION MARKET GUARANTEE INSTITUTION A. COMPANY IDENTITY

Company Name ......
.
Company Address
a. Street and Number ......
.
b. RT/RW, Village/Sub-district ......
.
c. District/Postcode ......
.
d. Regency/City ......
.
e. Province ......
.
f. Tel. & Fax No. ......
.
g. E-mail ......
. h. Company Contact Person
(name and Tel/Mobile No.) ......
.
......
.
Type of business activity ......
.
......
.
......
.
B. CAPITAL COMPOSITION
a. Authorized Capital ......
.
b. Paid-up Capital ......
.
c. Issued Capital ......
.
C. COMPOSITION OF COMMISSIONERS
FULL NAME POSITION PLACE / DATE OF BIRTH ADDRESS NIK 1.

D. COMPOSITION OF DIRECTORS
FULL NAME POSITION PLACE / DATE OF BIRTH ADDRESS NIK 1.
2.
3.
4.
E. COMPOSITION OF SHAREHOLDERS

FULL NAME NIK/NPWP ADDRESS OWNERSHIP COMPOSITION (%) 1.
2.
3.
......, 20......
Applicant,
(Full Name)
......
(Position)

Form Number: LP.PLK-01.04
INTEGRITY QUESTIONNAIRE FOR DIRECTORS
OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTIONS
I. INSTRUCTIONS FOR ANSWERING QUESTIONS

All questions must be answered by the Applicant.
Signed by the directors/management of the Commodity Auction Market Guarantee Institution on stamped paper.
Mark X in the provided answer box according to your choice.
(for every "Yes" answer, the Applicant must provide detailed and clear explanations)
II. INTEGRITY OF THE MANAGEMENT OF THE COMMODITY AUCTION MARKET GUARANTEE INSTITUTION
Answer the questions below:
Is the company controlled, either directly or indirectly, by an individual who:
has been warned or had their license revoked by the competent authority?
 yes  no
has been convicted of a criminal offense in the economic sector, including trade, industry, agriculture, banking, insurance, capital markets, futures trading, or taxation, within the last 5 years?
 yes  no
has been declared bankrupt or served as a Director or Commissioner of a Limited Liability Company declared guilty of causing a company to be declared bankrupt within the last 5 years?
 yes  no
is currently under investigation or trial for allegedly committing a criminal offense in the economic sector, including trade, industry, or agriculture, or the financial sector, including banking, insurance, capital markets, futures trading, or taxation?
 yes  no
......, 20......
Director of the Guarantee Institution, stamp
......
(full name)

Form Number: LP.PLK-01.05
DIRECTORS' STATEMENT LETTER
CONCERNING CONTROLLERS
We, the undersigned:

Name :
Identity Number/ID Card :
NIB :
Position : President Director
Full Address :
Tel & Fax Number :
Name :
Identity Number/ID Card :
NIB :
Position : Director
Full Address :
Tel & Fax Number :
Based on the company's Articles of Association, acting for and on behalf of PT. ...... domiciled in ......, hereby truthfully declare that PT. ...... is controlled, either directly or indirectly, by an individual who:
a. has good character and morals; b. has knowledge in the field of Commodity Auction Markets;
c. has never been declared bankrupt, or served as a director, manager, or supervisory commissioner in a Company declared bankrupt within the last 5 (five) years;
d. has never been convicted based on a court decision with permanent legal force for committing a criminal offense in the economic or financial sector with a maximum sentence of more than 5 (five) years; and e. has never been proven to have violated the provisions of laws and regulations in the field of Commodity Auction Markets.
......, 20......
Directors of PT. ......
Stamp
Full Name Full Name
(......) (......)
Position Position

Form Number: LP.PLK-02
MINUTES OF INSPECTION
OF PHYSICAL FACILITIES AND INFRASTRUCTURE OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTION The undersigned:

Name : ………………
NIP : ………………
Position : ………………
Name : ………………
NIP : ………………
Position : ………………
Name : ………………
NIP : ………………
Position : ………………
In accordance with the assignment letter from the Head of the Commodity Futures Trading Regulatory Agency Number ……………. dated ….……..., we have inspected the facilities and infrastructure owned by PT ……………… to carry out activities as a Commodity Auction Market Guarantee Institution with the company's completeness information as attached (Form Number: LP.PLK-02.01). These Minutes of Inspection are made truthfully to be used as appropriate. ......, ………….…20 …... Physical Facilities and Infrastructure Inspection Team Inspected Party :
……………… 1. ………………
Company Stamp
( ………………) 2. ………………
Position
………………

Form Number: LP.PLK-02.01
CHECKLIST
FOR COMMODITY AUCTION MARKET GUARANTEE INSTITUTION
I. Company Name : ......
Full Address : ......
(Street Name & Number)
...... -
(City & Postcode)
II. List of Shareholders

List of names of individual shareholders
No. Full Name Address NPWP Amount (%)
List of company shareholders
No. Company Name Address NPWP Amount (%)
III. List of Directors
No. Full Name Position Address NPWP
IV. List of Board of Commissioners
No. Full Name Position Address NPWP
V. List of Company Facilities and Infrastructure
No. Type of Infrastructure and Facilities Description Remarks
Organizational structure and
list of Human Resources related to the implementation of Commodity Auction Market Transaction Guarantees.
Standard Operating Procedures
related to Commodity Auction Market Transaction Guarantees.
Facilities and Infrastructure

Office;
office equipment & supplies; and
telecommunication facilities,
internet network, computers, etc.

Information system for guarantee activities on Commodity Auction Market transactions

No. Type of Infrastructure and Facilities Description Remarks
......, ......20....
Directors/Management,

......
(full name)

Form Number: LP.PLK-03
DECISION
OF THE HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY NUMBER ……………… CONCERNING APPROVAL AS A COMMODITY AUCTION MARKET GUARANTEE INSTITUTION TO ……………… HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, Considering : Letter Number ………… dated ………………. regarding ...... submitted by PT...... has met the requirements and on that basis can be considered for Approval as a Commodity Auction Market Guarantee Institution; Recalling : 1. Law Number 9 Year 2006 concerning Warehouse Receipt System (State Gazette of the Republic of Indonesia Year 2006 Number 59, Supplement to the State Gazette of the Republic of Indonesia Number 4630) as amended by Law Number 9 Year 2011 concerning Amendments to Law Number 9 Year 2006 concerning Warehouse Receipt System (State Gazette of the Republic of Indonesia Year 2011 Number 78, Supplement to the State Gazette of the Republic of Indonesia Number 5231);
2. Law Number 7 Year 2014 concerning Trade (State Gazette of the Republic of Indonesia Year 2014 Number 45, Supplement to the State Gazette of the Republic of Indonesia Number 5512);
3. Presidential Regulation Number 75 Year 2022 concerning Arrangement, Development, and Promotion of Commodity Auction Markets (State Gazette of the Republic of Indonesia Year 2022 Number 116);
4. Presidential Regulation Number 168 Year 2024 concerning the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2024 Number 364);
5. Minister of Trade Regulation Number 33 Year 2024 concerning the Implementation of Presidential Regulation Number 75 Year 2022 concerning Arrangement, Development, and Promotion of Commodity Auction Markets (State Gazette of the Republic of Indonesia Year 2024 Number 945);
6. Minister of Trade Regulation Number 6 Year 2025 concerning the Organization and Work Procedures of the Ministry of Trade (State Gazette of the Republic of Indonesia Year 2025 Number 53); and
7. Regulation of the Commodity Futures Trading Regulatory Agency Number 3 Year 2026 concerning Technical Provisions for the Implementation of Commodity Auction Markets;

DECIDES:
Stipulates : DECISION OF THE HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY CONCERNING APPROVAL AS A COMMODITY AUCTION MARKET GUARANTEE INSTITUTION TO ………………
Article 1
Grants Approval as a Commodity Auction Market Guarantee Institution to ...... with its head office address at ......
Article 2
This Approval is valid as long as the concerned party actively carries out activities in accordance with its function as referred to in Article 1.
Article 3
This Decision of the Head of the Commodity Futures Trading Regulatory Agency shall come into force from the date of its stipulation.
Stipulated in Jakarta on the date
HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, ……………… Copies to:

Minister of Trade of the Republic of Indonesia;
Secretary General of the Ministry of Trade;
Inspector General of the Ministry of Trade; and
Primary High Officials within Bappebti.

Form Number: LP.PLK-04
Number : Jakarta, ......20....
Attachment : ---
Subject : Rejection of Application for Approval as a Commodity Auction Market Guarantee Institution To, ……………… in -
......
Referring to your letter Number: ...... dated ...... regarding ......, after verification, examination, or assessment of the submitted required documents and inspection of physical facilities and infrastructure, Bappebti hereby rejects your application for not meeting the following requirements:

......
......
......
Thus, for your information.
HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY,
......
Copies to:
Minister of Trade of the Republic of Indonesia;
Secretary General of the Ministry of Trade;
Inspector General of the Ministry of Trade; and
Primary High Officials within Bappebti.
HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, Signed.
TIRTA KARMA SENJAYA
Copy in accordance with the original
Commodity Futures Trading Regulatory Agency
Head of the Bureau of Commodity Futures Trading, Warehouse Receipt System, and Commodity Auction Market Legislation, Rifah Ariny

APPENDIX VI
REGULATION OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY NUMBER YEAR CONCERNING TECHNICAL PROVISIONS FOR THE IMPLEMENTATION OF COMMODITY AUCTION MARKETS Form Number: LP.PLK-05 REPORT OF CHANGE OF NAME AND/OR ADDRESS OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTION
Number : …………, ......20.....
Attachment :
Subject : Report of Change of Name and/or Address ) of Commodity Auction Market Guarantee Institution
......
To,
Head of the Commodity Futures Trading
Regulatory Agency in -
Jakarta
Hereby, we, the undersigned, acting for and on behalf of PT. ......, submit a report of change of Name and/or Address) of the Commodity Auction Market (PLK) Guarantee Institution, as follows:

Old Name/Address*) of PLK
Guarantee Institution
: ......
New Name/Address*) of PLK
Guarantee Institution
: ......
Furthermore, we complete this report by attaching the list of document completeness for the Report of Change of Name and/or Address*) of the Commodity Auction Market Guarantee Institution (Form Number LP.PLK-05.01) along with the required supporting documents. We submit this report, and thank you for your attention. Applicant, (full name)
......
(position)

Form Number : LP.PLK-05.01
LIST OF DOCUMENT COMPLETENESS FOR THE REPORT OF CHANGE OF NAME AND/OR ADDRESS*) OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTION No Document Present Not Present

Copy of the company's deed of establishment along with all its amendments that have been legalized by the competent authority;
Copy of Business Identification Number (NIB)
Copy of the company's Taxpayer Identification Number (NPWP);
Company profile which includes:
a. vision and mission, and business description; b. company organizational structure (including the structure of the Guarantee Institution business unit), as well as the composition of the company's directors/management and company human resources; and
c. list of names of Directors/Management along with Curriculum Vitae.

Form Number: LP.PLK-06
REPORT OF CHANGE OF DIRECTORS/COMMISSIONERS/SHAREHOLDERS OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTION
Number : …………, ......20......
Attachment :
Subject : Report of Change of
Directors/Commissioners/Shareholders of Commodity Auction Market Guarantee Institution
......
To,
Head of the Commodity Futures Trading
Regulatory Agency in -
Jakarta
Hereby, we, the undersigned:

Old Directors/Commissioners
a. Name : ………………
Position : ……………… b. Name : ………………
Position : ………………
c. Name : ………………
Position : ………………
New Directors/Commissioners
a. Name : ………………
Position : ……………… b. Name : ………………
Position : ………………
c. Name : ………………
Position : ………………
acting for and on behalf of PT. …..... submit a report of change of Directors/Commissioners/Shareholders of PT. ......
Furthermore, we complete this report by attaching the following documents:
List of Document Completeness (Form Number LP.PLK-06.01); and
Integrity Questionnaire for Supervisors/Management of PLK Guarantee Institutions for Changes in Supervisors/Management of PLK Guarantee Institutions (Form Number LP.PLK-06.02).
We submit this report, and thank you for your attention.
Applicant,
(Full Name)
......
(Position)

Form Number: LP.PLK-06.01
LIST OF DOCUMENT COMPLETENESS FOR CHANGES IN COMMISSIONERS/DIRECTORS OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTION No Document Present Not Present

Copy of the deed of amendment to the company's articles of association that includes the reported changes in management;
List of names and data of the board of commissioners/directors, including:
a. curriculum vitae; b. copy of the latest formal education diploma; and
c. copy of Identity Card/Passport.

Form Number: P.PLK-06.02
INTEGRITY QUESTIONNAIRE FOR CHANGES IN COMMISSIONERS/DIRECTORS OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTIONS

I. INSTRUCTIONS FOR ANSWERING QUESTIONS

All questions must be answered by the applicant.
Signed by the board of directors of the Guarantee Institution on stamped paper.
Mark X in the provided answer box according to your choice.
(For every "Yes" answer, the Applicant must provide detailed and clear explanations)

II. INTEGRITY OF THE MANAGEMENT OF COMMODITY AUCTION MARKET GUARANTEE INSTITUTIONS
Answer the questions below:
Is the company controlled, either directly or indirectly, by an individual who:

has been warned or had their license revoked by the competent authority?
 yes  no
has ever been convicted of a criminal offense in the economic sector, including trade, industry, agriculture, banking, insurance, capital markets, futures trading, or taxation?
 yes  no
has been declared bankrupt or served as a Director or Commissioner of a Limited Liability Company declared guilty of causing a company to be declared bankrupt?
 yes  no
is currently under investigation or trial for allegedly committing a criminal offense in the economic sector, including trade, industry, or agriculture, or in the financial sector, including banking, insurance, capital markets, futures trading, or taxation?
 yes  no

......, 20......
Management of the Commodity Auction Market Guarantee Institution, stamp
......
(full name)

HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, Signed.
TIRTA KARMA SENJAYA

Copy in accordance with the original
Commodity Futures Trading Regulatory Agency
Head of the Bureau of Commodity Futures Trading, Warehouse Receipt System, and Commodity Auction Market Legislation, Rifah Ariny

ATTACHMENT VII
REGULATION OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY NUMBER YEAR CONCERNING TECHNICAL PROVISIONS FOR THE IMPLEMENTATION OF COMMODITY AUCTION MARKETS

MONTHLY ACTIVITY REPORT ON THE IMPLEMENTATION OF COMMODITY AUCTION MARKETS COMMODITY AUCTION MARKET ORGANIZER/GUARANTEE INSTITUTION *) PT / COOPERATIVE *) MONTH YEAR

Auction Transaction Recapitulation Date
| No. | Seller | Seller No. | Buyer | Buyer | Commodity | Type | Volume | Price | Total | Realization Status ) | Remarks*) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | |
TOTAL Rp.

No. Registered Participants )

Name of Selling Participant	Name of Buying Participant
1.
2.
3.
4. etc.

Auction Transaction Recapitulation Date
| No. | Seller | Seller No. | Buyer | Buyer | Commodity | Type | Volume | Price | Total | Realization Status ) | Remarks*) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| | | | | | | | | | | | |
TOTAL Rp.

No. Registered Participants )

Name of Selling Participant	Name of Buying Participant
1.
2.
3.
4. etc.

Etc…..
Additional Information:
………………
……………..,………… 20..
………………
Commodity Auction Market Organizer / Guarantee Institution *) (wet stamp of Commodity Auction Market Organizer / Guarantee Institution *)

Remarks:
*) Choose One
) Filled with Done/Failed/Changed/Not yet monitored *) If the realization status is changed, then fill in the reason for the change and the latest transaction value ) Registered participants are parties who participate in auction activities, whether transactions occur or not, consisting of:

Sellers who successfully conduct sale transactions;
Buyers who successfully win the Auction;
Sellers who have offered their commodities but no buyers bid;
Buyers who have made bids but lost to other buyers; and
Buyers who have registered to participate in the auction on that date, but did not make any bids at all because they had not found a match.

HEAD OF THE COMMODITY FUTURES TRADING REGULATORY AGENCY, Signed.
TIRTA KARMA SENJAYA

Regulation of the Commodity Futures Trading Regulatory Agency Number 3 of 2026 Concerning Technical Provisions for the Organization of Commodity Auction Markets

Lineage: In force

Timeline

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