JAKARTA, KOMPAS.com – The Financial Services Authority (OJK) has launched a standard market for repo operations that are developing on the domestic stock market. Standardization took place in the form of OJK Regulation 9/POJK.04/2015 on guidelines for financial institutions` pension operations. The Financial Services Authority (OJK) and the Indonesian Effect Companies Association (APEI) have teamed up to launch the standardization of the pension contract (Repo) developed on the stock market. IEPA President Karman Pamurahardjo said Tuesday in Jakarta that market normalization was needed to help market participants improve their competitiveness in international stock markets. . To make repo transactions more transparent, OJK “Market Standard” created the Financial Services Authority circular No 33/SEOJK.04/2015 on Global Master Repurchase Agreement Indonesia. Financial Services Authority, announces the 39th anniversary of the reactivation of the Indonesian capital market, Ministry of Finance, 2016. . . Movement of shares on the screen of the Indonesian Stock Exchange, Jakarta, March 9, 2018. The Composite Stock Price Index (JCI) slipped into the red at the end of the first trading session on Friday. RTI found that the benchmark domestic equity index fell 30.17 points, or 0.47 per cent, to 6,412.86 points.
Tempo/Tony Hartawan Hoesen, Chairman of the OJK Board of Directors, stated that many repo operations did not comply with GMRA Indonesia. He invited market participants to refer to the existing regime when they include transactions. Andre Lawren Lawren Law, Islamic University of Bandung Indonesia. Hamud M. Balfas, Indonesian capital markets law, PT. Tatanusa, Jakarta, 2006. “With the availability of this market standard, market participants should be able to understand the rules and mechanisms related to repurchase transactions, increase the volume and number of repo players in Indonesia, and apply high standards of professionalism in accordance with best market practices, so that they are expected to minimize uncertainties or litigation in the execution of repo transactions,” Karman said. At the same time, the Chairman of the Board of Directors of the OJK Capital Market Supervisory Hoesen, said that there were still many repo practices that are not yet in agreement with GMRA. “At the moment, many repo practices are not in compliance with GMRA,” he said.
Bank Indonesia Bulletin No. 10/2/DDM of 31 January 2008 regarding pension transactions with Indonesia Bank in the capital market. The chairman of the board of directors of the capital market watchdog Hoesen said that ojK is investigating numerous cases of fraud or illegal transactions on behalf of Repo as a gimmick. “The problem with this re boarding operation, so the standardization of the market has to be done because so far many re boarding operations, but the transactions are not real sales,” he told the Indonesian Stock Exchange (IDX) on Tuesday (21/5). Therefore, the objective of standard market repurchase operations on share guarantee contracts can be a legal reference and have a uniform legal strength. So that any settlement of infringement always relates to the positive legal force that exists. Revina Hikmaty Fadilla, Budiharto (et.all), Responsibility of the Board of Directors of Securities Companies Conducting Fictitious Bond Repurchase Agreement (Repo), Jurnal, Diponegoro University, Semarang, 2016. It turned out that The stock of Goldman Sachs International had changed ownership. A long history at the end of 2016, the company`s chief executive was arrested for fraud of up to $1 billion. . Capital Market Act 8 of 1995.
“I hope that market standardization will improve the understanding of market participants, because every day we are always attracted to high profits,” Hoesen added. (bbn) TEMPO.CO, Jakarta – THE coordinator of the APEI commission, Karman Pamurahardjo, said that the pension contract or repo was one of the transactions under development on the stock market.