ANNUAL REPORT

2008

Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) Departemen Perdagangan Republik IndonesiaCommodity Futures Trading Regulator Agency Ministry of trade of the Republic of Indnesia

Commodity Futures Trading Regulator Agency (CoFTRA) Ministry of Trade Republic of Indonesia Gedung Bappebti 3th to 5th flour Jl. Kramat Raya No. 172 Jakarta Pusat Phones / Facs: 021- 3100569 Website : www.bappebti.go.id

Daftar Isi ContentVisi dan Misi Kata Pengantar

4 6

Vision And Mission Introduction Organization Development of The Commodity Futures Trading Industry Activities Development of The Auction Market Activities Development of The Warehouse Receipt System (WRS) Activities Development of The Supporting Activities

Organisasi 14 Perkembangan Kegiatan 15 Industri Perdagangan Berjangka Komoditi Perkembangan 29 Kegiatan Pasar Lelang Perkembangan 35 Kegiatan Sistem Resi Gudang (SRG) Perkembangan 41 Kegiatan Penunjang

Ikhtisar dalam Angka 49 Summary in Figures

3

ANNUAL REPORT 2008

VISI MISIVISI Terwujudnya sistem perdagangan yang tertib, efisien, efektf, dan transparan melalui Perdagangan Berjangka Komoditi, Pasar Lelang dan Sistem Resi Gudang. MISI Mengembangkan Perdagangan Berjangka Komoditi sebagai sarana pengelolaan resiko harga atau lindung nilai dan terbentuknya harga yang transparan. Mengembangkan Pasar Lelang sebagai sarana untuk meningkatkan efisiensi jasa niaga dengan memperpendek mata rantai distribusi. Mengembangkan Sistem Resi Gudang sebagai alternatif sarana pembiayaan, pengenalan harga, dan persediaan nasional.

VISION MISSIONVISION To establish an orderly, efficient, effective and transparent trading system through the Commodity Futures Trading, Auction Market, and the Warehouse Receipt System. MISSION To develop Commodity Futures Trading sector as a means to manage price risk or hedging, and establish transparent prices. To develop Auction Market as a means to improve the efficiency of commercial services by shortening the chain of distribution. To develop Warehouse Receipt System as an alternative means of financing, introducing prices, and managing the national stock.

4

www. bappebti.go.id

5

ANNUAL REPORT 2008

KATA PENGANTARMemasuki tahun ke 4 Pembangunan Jangka Menengah 2004 - 2009, Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti), yang merupakan salah satu unit Departemen Perdagangan Republik Indonesia, telah berusaha secara optimal melakukan pengembangan kegiatan Perdagangan Berjangka Komoditi, Pasar Lelang Komoditi Agro dan Sistem Resi Gudang. Hal itu dilakukan melalui berbagai program strategis dan kebijakan yang diterapkan sepanjang tahun 2008, antara lain, penetapan dan penyempurnaan peraturan perundang-undangan, penegakan hukum, sosialisasi, kerjasama dengan berbagai pihak, dan melakukan berbagai terobosan baru. Kegiatan Perdagangan Berjangka Komoditi, Pasar Lelang Komoditi Agro, dan Sistem Resi Gudang pada dasarnya merupakan satu kesatuan yang terintegrasi satu sama lain. Secara seder-

INTRODUCTIONEntering the 4th year of the Medium Term Development Period of 2004-2009, the Commodity Futures Trading Regulatory Agency (Coftra) as one unit of the Ministry of Trade of the Republic of Indonesia, has to the best extent possible endeavored to develop the Commodity Futures Trading, Agro Commodity Auction Market and Warehouse Receipt System activities. This was executed through various strategic program and policies implemented throughout 2008, by means of among others the enactment and improvement of the laws and regulations, law enforcement, socialization, collaboration with various parties, and new innovations. In principle, the Commodity Futures Trading, Agro Commodity Auction Market and Warehouse Receipt System activities are components that are integrated one to another. In simple

6

hana, pasar berjangka komoditi adalah pasar turunan atau derivatif dari pasar fisik komoditi, sementara Resi Gudang, dapat diperdagangkan di pasar lelang dan atau di Bursa Berjangka Komoditi. Resi Gudang juga dapat digunakan sebagai instrumen penyerahan atau penerimaan komoditi saat Kontrak Berjangka yang diperdagangkan di Bursa Berjangka mengalami jatuh tempo. Kinerja Perdagangan Berjangka Komoditi yang diselenggarakan Bursa Berjangka Jakarta (BBJ) secara keseluruhan sepanjang tahun 2008 mengalami penurunan yang cukup signifikan. Dibandingkan dengan tahun 2007, Kontrak Berjangka Olein mengalami penurunan sebesar 54% sedangkan Kontrak Berjangka Emas mengalami penurunan sebesar 43%. Namun ada juga Kontrak Berjangka di BBJ yang mengalami peningkatan transaksi yaitu Kontrak Berjangka Indeks Emas (KIE) yang naik sebesar 55%. Sementara itu, perdagangan di luar Bursa (Sistem Perdagangan Alternatif - SPA) juga mengalami peningkatan sebesar 33,5%. Upaya meningkatkan likuiditas Perdagangan Berjangka, khususnya kontrak komoditi primer, di sepanjang tahun 2008 senantiasa dilakukan Bappebti. Upaya itu antara lain melalui kegiatan sosialisasi dan mendorong penyelenggara serta para pelaku pasar Perdagangan Berjangka untuk terus aktif berinovasi dalam menciptakan produk Kontrak Berjangka yang likuid. Upaya di bidang hukum dilakukan melalui penyempurnaan 2 (dua) peraturan yang berkaitan dengan perilaku perusahaan Pialang Berjangka dan turut serta berpartisipasi aktif dalam Satuan Tugas (Satgas) Dugaan Tindakan Melawan Hukum di Bidang Penghimpunan Dana Masyarakat dan Pengelolaan Investasi, bersama dengan Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK), Bank Indonesia, Kepolisian, Pusat Pelaporan dan Analisis Transaksi Keuangan (PPATK), serta Direktorat Jenderal Perdagangan Dalam Negeri - Departemen Perdagangan. Dalam rangka penertiban dan penegakan hukum, Bappebti telah menjatuhkan sanksi berupa pecabutan izin usaha kepada 10 (sepuluh) perusahaan Pialang Berjangka Di bidang Pasar Lelang Komoditi Agro yang telah dikembangkan Bappebti sejak tahun 2003, sejauh ini kegiatannya dinilai cukup memuaskan. Di berbagai daerah, manfaat pasar lelang telah dirasakan secara nyata. Hal ini dapat dili-

term, Commodity Futures Market is a derivative market of a Physical Commodity Market, whereas the Warehouse Receipt is an instrument that can be traded in the Auction Market or in a Commodity Futures Exchange. Warehouse Receipts can also be used as an instrument to indicate delivery and acceptance for commodities in the event the futures contract traded at the futures exchange comes into maturity. Overall, the Commodity Futures Trading performance of the Jakarta Futures Exchange (JFX) throughout 2008 had suffered a significant decline. Compared to its performance in 2007, the Olein futures contract suffered a 54% decline and the Gold futures contract suffered a 43% decline. However, the JFX had enjoyed an increase of trade in one futures contract, namely the Gold Index Futures Contract, which enjoyed a 55% increase. On the other hand, there was also a 33,5% increase in trading activities outside of the exchange or over-the-counter (in bahasa Indonesia: Sistem Perdagangan Alternatif - SPA). Throughout 2008 Coftra has continued its endeavor to improve the liquidity of a futures contract traded at the exchange, particularly a primary commodity contracts. Among others by playing an active role in socializing and encouraging the Futures Market Organizer and its players to actively introduce innovations in creating a liquid futures contracts. In the field of law and regulations, the endeavors included, among others, the improvement of 2 (two) regulations governing the behaviors of Futures Broker firms and the participation in the Task Force that handles Charges of Illegal Fund Raising Practices from Public Resources and Investment Management, together with the Capital Market and Financial Institutions Supervisory Agency - Ministry of Finance, Bank of Indonesia, Police Force, Center of Reporting and Analysis of Financial Transactions, and the Directorate General of Domestic Trade - Ministry of Trade. Within the framework of ensuring compliance and law enforcement, Coftra had imposed sanction in the form of business license revocation to 10 (ten) Futures Broker firms.

7

ANNUAL REPORT 2008

hat dari besarnya minat penyelenggaraan pasar lelang yang dilakukan di 19 (sembilan belas ) provinsi. Dari setiap penyelenggaraan pasar lelang forward, jenis komoditi yang diperdagangkan pun semakin beragam. Meskipun nilai kumulatif transaksi pasar lelang forward di tahun 2008 mengalami penurunan sekitar 5% dibandingkan dengan tahun 2007, namun penurunan itu lebih disebabkan oleh terjadinya penurunan frekuensi penyelenggaraan pasar lelang. Disahkannya Undang-Undang No. 9 Tahun 2006 tentang Sistem Resi Gudang mengandung arti adanya terobosan baru dimana komoditi pertanian dapat dijadikan sebagai agunan oleh para pihak yang memiliki Resi Gudang, khususnya petani atau kelompok tani, dalam upaya mereka untuk memperoleh kredit dari perbankan atau lembaga keuangan lainnya. Bappebti telah menerapkan Sistem Resi Gudang (SRG) melalui 4 (empat) proyek percontohan di Kabupaten Banyumas - Jawa Tengah, Kabupaten Jombang - Jawa Timur, Kabupaten Indramayu - Jawa Barat, dan Kabupaten Gowa - Sulawesi Selatan. Dalam hal kebijakan yang terkait dengan Sistem Resi Gudang, telah diterbitkan 4 (empat) Peraturan Kepala Bappebti serta memberikan persetujuan kelembagaan kepada 7 (tujuh) perusahaan dan 1 (satu) kelompok tani sebagai perusahaan Gudang, 5 (lima) perusahaan dan 1 (satu) kelompok tani sebagai Pengelola Gudang, 7 (tujuh) badan usaha sebagai Lembaga Kesesuaian Mutu, serta kepada PT Kliring Berjangka Indonesia (Persero) sebagai Pusat Registrasi. Pengembangan komoditi potensial yang dapat di-Resi Gudang-kan sebagaimana diatur dalam Peraturan Menteri Perdagangan RI No. 26/M-DAG/PER/6/2007 tentang Barang Yang Dapat Disimpan di Gudang Dalam Penyelenggaraan Sistem Resi Gudang, terus dilakukan dengan partisipasi pemerintah daerah serta para pelaku pasar untuk mengembangkan Sistem Resi Gudang di sentra-sentra produksi pertanian. Agar lebih menarik bagi petani atau produsen untuk menyimpan barang dalam skema SRG, pada tahun 2009 pemerintah berencana memberikan bantuan pendanaan berupa subsidi suku bunga. Dalam kondisi krisis ekonomi global yang melanda hampir semua negara, maka peran Perdagangan Berjangka Komoditi, Pasar Lelang Komoditi Agro dan Sistem Resi Gudang diharapkan8

In the area of Agro Commodity Auction Market, which has been developed by Coftra since the year 2003, Coftra views that it has achieved satisfactory performance. Many regions had enjoyed a benefit of this auction market, which was evident from the significant interest to organize the Auction Markets that have been so far organized in 19 (nineteen) provinces. The enactment of Law No. 9 of 2006 concerning Warehouse Receipt System introduced a new innovation where agricultural commodities can now be used as collaterals by the Warehouse Receipt holders, particularly farmers or farmer groups, to access credit from banks or other financial institutions. Coftra has implemented the Warehouse Receipt System through 4 (four) pilot projects in Banyumas Regency - Central Java, Jombang Regency - East Java, Indramayu Regency - West Java, and Gowa Regency - South Sulawesi. With respect to policies related to the Warehouse Receipt System, Coftra has also published 4 (four) regulations in the form of Coftras Chairman Decree and granted approvals to legalize 7 (seven) companies and 1 (one) farmer group as an accredited Warehouse Firm, 5 (five) companies and 1 (one) farmer group as a Warehouse Manager, 7 (seven) business entities as a Conformity Assessment Body, and PT Kliring Berjangka Indonesia (Persero) as the Registration Centre. The expansion of potential commodities to be included in the Warehouse Receipt System as regulated under the Regulation of the Minister of Trade No. 26/M-DAG/PER/6/2007 concerning Goods That Can Be Stored In The Warehouse under the Warehouse Receipt System, will continue to be carried out with the participation of the local governments and the market players, in effort to develop the Warehouse Receipt System in the centers of agricultural production. To better attract farmers or producers to store their goods under the Warehouse Receipt System, in 2009 the government plans to provide financial assistance in the form of interest subsidies. With most countries facing the global economic crisis, the Commodity Futures Trading, Agro

dapat lebih optimal lagi dalam mendorong perekonomian nasional, yang dampaknya bermuara pada peningkatan kesejahteraan masyarakat. Bappebti akan selalu bekerjasama bahu membahu dengan para stakeholders maupun pihak lain untuk melakukan upaya mengintegrasikan ketiga kegiatan besar tersebut sehingga tercipta sinergi di antara ketiganya. Pada akhirnya, saya, atas nama seluruh karyawan Bappebti, menyampaikan apresiasi dan terima kasih yang sebesar-besarnya kepada semua pihak atas dukungan dan keterlibatannya dalam mewujudkan tugas pokok dan fungsi Bappebti, sebagaimana diamanatkan dalam Undang-Undang yang melatarbelakanginya. Semoga industri Perdagangan Berjangka, Pasar Lelang Komoditi Agro dan Sistem Resi Gudang di Indonesia semakin berkembang dan maju di tahun-tahun mendatang. WASSALAM JAKARTA, Juni 2009

Commodity Auction Market and Warehouse Receipt are expected to play a more optimum role in advancing the countrys economic growth, and eventually improve the peoples welfare. Coftra will continue to collaborate with the stakeholders as well as other parties in its endeavor to integrate those three activities and create synergy among the three. Finally, on behalf of the entire Coftra staffs, I would like to express my gratitude to everyone for their support and active participation in helping Coftra in carrying out its main duties and functions as mandated by its underlying law. May the Commodity Futures Trading, Agro Commodity Auction Market and Warehouse Receipt System activities in Indonesia will continue to grow and develop in the years to come. Regards, Jakarta, June 2009

DEDDY SALEH KEPALA BAPPEBTIChairperson of CoFTRAs

9

ANNUAL REPORT 2008

(berdiri, kiri-kanan) Sutriono Edi, Chrisnawan Triwahyuardhianto, Made Sukarwo, Pater Y Angwarmasse, Marthin (duduk) Deddy Saleh

10

Struktur Organisasi

KEPALA BAPPEBTI

Sekretaris

KepalaBiroHukum

KepalaBiroPerniagaan

KepalaBiroAnalisisPasar

Kepala Biro Pasar Fisik dan Jasa

11

ANNUAL REPORT 2008

Sekretariat

Natalius Nainggolan Kabag. Humas dan Kerjasama

Nizarli Kabag. Kepegawaian dan Umum

Biro Hukum

Mardyana Listyowati Kabag. Pelayanan Hukum

Memi Densy Mioen Kabag. Pelanggaran Administratif

Himawan Purwadi Kabag. Pelanggaran Transaksi

Biro Perniagaan

Pantas Lunban Batu Kabag. Pengawasan Keuangan dan Audit 12

Sri Hariyati Kabag. Pembinaan Usaha

Sentot Kamaruddin Kabag. Pengawasan Transaksi

Sekretariat

Ismadjaja Toengkagie Kabag. Program dan Pelaporan

Syarifudin Parhusip Kabag. Keuangan

Biro Analisa Pasar

Rd. Moch. Yusuf Affandi Kabag. Sistem Informasi

Widiastuti Kabag. Pengkajian Pasar

Arifuddin Andi Dewang Kabag. Pengembangan Pasar

Biro Pasar Fisik dan Jasa

Dharmayugo Hermansyah Kabag. Pengawasan Pasar Lelang

Cepi Sumintadiredja Kabag. Pembinaan Pasar Lelang dan SRG

Sabri Usman Kabag. Pengawasan Sistem Resi Gudang 13

ANNUAL REPORT 2008

OrganisasiBappebti dipimpin seorang Kepala Badan, dan dibantu seorang Sekretaris, serta 4 Kepala Biro yang terdiri dari: Biro Hukum, Biro Perniagaan, Biro Analisis Pasar, dan Biro Fisik dan Jasa. Orga- nisasi Bappebti itu, berdasarkan Keputusan Menteri Perdagangan No. 01/M-DAG/PER/3/2005, tentang, Or ga nisasi dan Tata Kerja Bappebti. Bertugas memberi pelayanan teknis dan administratif kepada seluruh satuan organisasi di lingkungan Bappebti. Untuk melaksanakan tugas tersebut, Sekretariat memiliki fungsi: koordinasi penyusunan kebijakan teknis, rencana dan program di bidang Perdagangan Berjangka serta Pasar Fisik dan Jasa; koordinasi pelaksanan evaluasi dan penyusunan laporan hasil pelaksanaan kegiatan di bidang pengawasan Perdagangan Berjangka serta Pasar Fisik dan Jasa; pengelolaan urusan dokumentasi dan perpustakaan; koordinasi pengelolaan anggaran dan administrasi keuangan Badan; pelaksanaan urusan administrasi kepegawaian, perlengkapan, rumah tangga, ketatausahaan, dan kearsipan, serta organisasi dan ketatalaksanaan Badan; pelaksanaan hubungan masyarakat, kerjasama dan bimbingan teknis; koordinasi pelaksanaan pendidikan dan pelatihan Perdagangan Berjangka, publikasi dan informasi, serta hubungan dan kerjasama baik di dalam maupun luar negeri; pelaksanaan ujian calon Wakil Pialang Berjangka, Wakil Penasihat Berjangka dan Wakil Pengelola Sentra Dana Berjangka. Bertugas melaksanakan koordinasi perumusan dan penyusunan peraturan perundang-undangan, pemberian pelayanan hukum, pemeriksaan, penyidikan dan penetapan sanksi terhadap pelanggaran administratif di bidang Perdagangan Berjangka serta Pasar Fisik dan Jasa. Untuk melaksanakan tugas tersebut, Biro Hukum memiliki fungsi: pelaksanaan pengkajian dan koordinasi penyusunan rancangan peraturan perundang-undangan, interpretasi hukum, konsultasi hukum, dan penyediaan sarana penyelesaian perselisihan dibidang Perdagangan Berjangka serta Pasar Fisik dan

OrganizationCommodity Futures Trading Regulatory Agency or Coftra is led by a Chairman of the Agency, and assisted by a Secretary of the Agency and 4 Heads of Bureau consisting of: the Legal Bureau, Trading Bureau, Market Analysis Bureau, and Physical and Services Market Bureau. The organizational structure of Coftra was established by virtue of the Minister of Trade Decree No. 01/M-DAG/PER/3/2005 concerning the Organization, Duties and Functions of Coftra. Provides technical and administrative services to all organizational units within Coftra. To perform the said duties, the Secretariat possess the following functions: coordinating the development of technical policies, planning, and programs relating to Futures Trading as well as the Physical and Services Market; coordinating the evaluation and development of reports on the outcome of the implementation of Futures Trading as well as the Physical and Services Market supervisory activities; management of the documentation and library affairs; coordination of the agencys budget and financial administration; implementation of staffing administration, equipment, household, administrative, and filing affairs, as well as the organization and working order of the Agency; carrying out human relations function, cooperation and technical guidance; coordination of Futures Trading education and training activities, publication and information, as well as international relations and cooperation; carrying out examinations for Futures Broker Representative, Futures Advisor Representative and Futures Pool Operator Representative candidates. Coordinates the formulation and drafting of legislations, renders legal services, investigates and determine sanctions for administrative violations in the field of Futures Trading as well as Physical and Services Market. To perform the said duties, the Legal Bureau holds the following functions: reviewing and coordinating the drafting of legislations, legal interpretation, legal consultation, and facilitating dispute settlements in the field of Futures Trading as well as Physical and Services Market; examination and investigation of administrative violations in the field of Futures Trading; as well as violations in the field of Physical and Services Market; enforcement

Sekretariat

Secretariat

Biro Hukum

Legal Bureau

14

Jasa; pelaksanaan pemeriksanaan dan penyidikan terhadap pelanggaran administratif di bidang Perdagangan Berjangka; serta pelanggaran di bidang Pasar Fisik dan Jasa; pelaksanaan penegakan peraturan dan merekomendasikan penetapan sanksi di bidang Perdagangan Berjangka serta Pasar Fisik dan Jasa. Bertugas melaksanakan koordinasi pembinaan usaha, pemantauan, pengawasan, audit kepatuhan dan keuangan, serta evaluasi pelaksanaan kegiatan usaha di bidang Perdagangan Berjangka. Untuk melaksanakan tugas tersebut, Biro Perniagaan memiliki fungsi: pelaksanaan pembinaan pelaku usaha di bidang Perdagangan Berjangka; pelaksanaan pemantauan, pengawasan dan evaluasi kegiatan transaksi pelaku usaha di bidang Perdagangan Berjangka; serta pelaksanaan pemantauan, pengawasan, audit kepatuhan dan keuangan, serta evaluasi keuangan pelaku usaha di bidang Perdagangan Berjangka. Bertugas melaksanakan koordinasi pengkajian pasar, pengembangan pasar dan sistem informasi. Untuk melaksanakan tugas tersebut, Biro Analisis Pasar memiliki fungsi: pelaksanaan pengkajian pasar dan penyerahan komoditi, pengkajian posisi kepemilikan Kontrak Berjangka, pengkajian perkembangan harga pasar fisik dan pasar berjangka di dalam dan luar negeri dan pelaporan; pelaksanaan pengembangan pasar, kelembagaan dan produk, pengkajian peraturan dan tata tertib Bursa Berjangka dan Lembaga Kliring Berjangka, serta pengkajian Kontrak Berjangka dalam dan luar negeri; pelaksanaan pengembangan dan fasilitas teknologi informasi serta pengelolaan data dan informasi. Bertugas dan berfungsi melaksanakan koordinasi pembinaan, pengawasan, pemantauan, dan evaluasi pelaksanaan kegiatan di bidang Pasar Lelang Komoditi Agro dan Sistem Resi Gudang. Untuk melaksanakan tugas tersebut, Biro Pasar Fisik dan Jasa memiliki fungsi: pelaksanaan pembinaan di bidang Pasar Lelang dan Sistem Resi Gudang; pelaksanaan pengawasan, pemantauan, dan evaluasi di bidang Pasar Lelang; serta pelaksanaan pengawasan, pemantauan, dan evaluasi di bidang Sistem Resi Gudang.

of the regulations and issuing recommendation for the determination of sanctions in the field of Futures Trading, as well as the Physical and Services Market. Coordinates efforts to foster businesses, monitoring, supervision, compliance and financial audit, as well as evaluation of the implementation of business activities in the field of Futures Trading. To perform the said duties, the Trading Bureau holds the following functions: implementation of efforts to foster business players in the field of Futures Trading; implementation of monitoring, supervisory and evaluation activities over the futures contract transactions executed by business players; as well as implementation of monitoring, supervision, compliance and financial audit activities, as well as evaluation of the business players finances in the field of Futures Trading. Coordinates market reviews, market development and information system.To perform the said duties, the Market Analysis Bureau holds the following functions: market reviews and delivery of commodities, reviewing the ownership position of a Futures Contract, reviewing the price development of the domestic and international physical market and futures market and its reporting; market, institutional and product development, reviewing regulations and the rules of conduct of the Futures Exchange and Futures Clearing House, as well as reviewing domestic and international Futures Contract; development of information technology facilities as well as data and information management. Serves the duty and function of coordinating, fostering, supervising, monitoring and evaluating the implementation of business activities in the field of Agro Commodity Auction Market and Warehouse Receipt System. To perform the said duties, Physical and Services Market Bureau holds the following functions: cultivating the Auction Market and the Warehouse Receipt System; undertaking supervision, monitoring and evaluation of the Auction Market; as well as undertaking supervision, monitoring and evaluation of the Warehouse Receipt System.

Trading Bureau

Biro Perniagaan

Market Analysis Bureau

Biro Analisis Pasar

Physical and Services Market Bureau

Biro Pasar Fisik dan Jasa

15

ANNUAL REPORT 2008

16

PERDAG A N G A N BERJA N G K A KO M O D I T IA . P E R K E M B A N G A N I N D U STRI1. Kondisi Umuma.Perdagangan Berjangka di BursaPelaksanaan Perdagangan Berjangka Komoditi seperti diamanatkan oleh UU No. 32/1997 tentang Perdagangan Berjangka Komoditi selama tahun 2008 masih diselenggarakan oleh PT. Bursa Berjangka Jakarta (BBJ) dan PT. Kliring Berjangka Indonesia (Persero) (KBI). Hingga akhir tahun 2008, BBJ memperdagangkan sebanyak 5 (lima) produk Kontrak Berjangka Komoditi, yaitu Kontrak Berjangka Olein, Kontrak Berjangka Emas, Kontrak Indeks Emas (KIE), Kontrak Gulir Emas (KGE) dan Kontrak Berjangka KGE dalam mata uang dolar Amerika Serikat (KGE-USD). Perdagangan Kontrak Berjangka Komoditi di BBJ dilakukan secara elektronik dengan menggunakan Jakarta Futures Electronic Trading System (JAFeTS), di mana semua transaksi dapat dilakukan langsung secara on-line, baik melalui perusahaan Pialang Berjangka maupun oleh Nasabah ataupun investor sendiri.

COMMODITY FUTURES TRADINGA.DEVELOPMENT OF THE INDUSTRY1. General Condition

a.

Trading in the Exchange

The implementation of the Commodity Futures Trading as mandated by the Law No. 32/1997 concerning Commodity Futures Trading, was still carried out by the Jakarta Futures Exchange (JFX) and PT. Kliring Berjangka Indonesia (Persero) or KBI. Up to the end of 2008, JFX has executed a total of 5 (five) Commodity Futures Contracts, respectively Olein, Gold, Gold Index Contract (KIE), Gold Roll-over Contract (KGE) and the Gold Roll-over Contract in the United States Dollars currency (KGE-USD). The futures trading in the JFX is executed electronically via the Jakarta Futures Electronic Trading System (JAFeTS), where all transactions can be done on-line, be it through Futures Broker firms or directly executed by customers/ investors.

b. Perdagangan Berjangka di Luar Bursa

b.Trading Outside of the Exchange

Di samping perdagangan Kontrak Berjangka Komoditi yang ditawarkan BBJ, Bappebti juga memberikan peluang terselenggaranya penyaluran amanat ke Bursa-bursa luar negeri melalui mekanisme Penyaluran Amanat Nasabah ke Luar Negeri (PALN). Di tahun 2008 ada sebanyak 13 (tigabelas) perusahaan Pialang Berjangka yang menawarkan 9 (sembilan) Kontrak Berjangka Bursa luar negeri. Perdagangan Berjangka dengan skema PALN dilakukan ke Bursa-bursa Tokyo Grain Exchange (TGE), Tokyo Commodity Exchange (TOCOM) dan Osaka Mercantile Exchange (OSAMEX). Adapun Kontrak-kontrak Berjangka yang ditawarkan Bursa-bursa tersebut adalah: Raw Sugar Futures-TGE, Arabica Coffee Futures-TGE, Robusta Coffee Futures-TGE, US Soybean Futures-TGE, Red Bean Futures-TGE, Corn Futures-TGE dan Soybean Meal Futures-TGE; Gasoline futures-TOCOM; serta Natural Rubber Indeks Futures-OSAMEX. Masyarakat ataupun investor Indonesia yang berminat melakukan investasi atau transaksi Kontrak Berjangka tertentu ke Bursa Berjangka di luar negeri, dapat menyalurkan amanatnya melalui perusahaan Pialang Berjangka yang telah mendapat persetujuan Bappebti. Selain itu, BBJ juga mengorganisir perdagangan di luar Bursa atau yang lebih dikenal dengan Sistem Perdagangan Alternatif (SPA). Jenis perdagangan di luar Bursa ini dalam beberapa tahun terakhir men-

In addition to the futures contract trading offered by the JFX, Coftra also provide opportunities to channeling futures contract orders to overseas exchanges through the Channeling Customers Order to Overseas Exchanges mechanism. In 2008, a total of 9 (nine) futures contracts of the overseas exchanges were offered by 13 (thirteen) Futures Broker firms. Seven contracts (Raw Sugar Futures - TGE; Arabica Coffee Futures - TGE; Robusta Coffee Futures - TGE; US Soybean Futures - TGE; Red Bean Futures - TGE; Corn Futures - TGE; and Soybean Meal Futures - TGE) were channeled to the Tokyo Grain Exchange (TGE), while one contract (Gasoline Futures TOCOM) was channeled to the Tokyo Commodity Exchange (TOCOM) and the other one (Natural Rubber Index Futures - OSAMEX) was channeled to the Osaka Mercantile Exchange (OSAMEX). The public or investors in Indonesia who are interested to invest or trading on particular futures contract in overseas exchanges may channel their order through a licensed Futures Broker firms. In addition, the JFX has also organized trading activities outside of the exchange or over the counter trading, which is better known as the Alternative Trading System (in bahasa Indonesia: Sistem Perdagangan Alternatif - SPA). In the last few years, this kind of trading activities (SPA) domi-

17

ANNUAL REPORT 2008

dominasi transaksi perdagangan berjangka di Indonesia. SPA adalah perdagangan antara Nasabah atau investor yang dilakukan melalui perusahaan Pialang Berjangka (Peserta SPA) dengan Pedagang Berjangka (Penyelenggara SPA) dan dilaksanakan secara on-line. Jenis kegiatan perdagangan berjangka ini diatur melalui Keputusan Kepala Bappebti Nomor 55 Tahun 2005, yang kemudian disempurnakan dengan Keputusan Kepala Bappebti Nomor 58 Tahun 2006. Kontrak Berjangka yang diperdagangkan melalui skema SPA adalah kontrak cross currency (foreign exchangeforex) dan indeks saham.

nated the futures trading transactions in Indonesia. SPA refers to the trading activities between customers/investors through the Futures Broker firms (SPA Participant) and the Futures Trader (SPA Organizer) which was carried out on-line. This trading activity was regulated under the Chairman of Coftras Decree Number 55 of 2005, as amended by the Chairman of Coftras Decree Number 58 of 2006. The contracts traded between SPA Organizer and SPA Participant under the SPA scheme were the cross currency (foreign exchange - forex) and stock index contracts.

Secara kumulatif, hingga akhir tahun 2008 jumlah perusahaan Pialang Berjangka tercatat sebanyak 80 (delapan puluh) perusahaan. Dari jumlah itu, perusahaan yang aktif melakukan perdagangan berj angka tercatat sebanyak 69 (enampuluh sembilan), sementara sebanyak 11 (sebelas) perusahaan telah dijatuhi sanksi oleh Bappebti sehingga tidak beroperasi lagi. Dari 11 (sebelas) perusahaan itu, sebanyak 10 (sepuluh) perusahaan dicabut izin usahanya dan 1 (satu) perusahaan dibekukan izin usahanya oleh Bappebti. Di tahun 2008 tidak tercatat adanya penambahan atau pun pengurangan jumlah perusahaan Pedagang Berjangka. Pedagang Berjangka merupakan badan usaha atau orang perseorangan, di mana mereka melakukan transaksi Kontrak Berjangka untuk dirinya sendiri dan atau untuk kelompok usahanya. Dalam kegiatan SPA, Pedagang Berjangka bertindak selaku Penyelenggara, yang menjadi lawan transaksi bagi amanat Nasabah yang disalurkan melalui perusahaan Pialang Berjangka (Peserta SPA). Saat ini terdapat sebanyak 17 (tujuh belas) perusahaan Pedagang Berjangka yang memperoleh persetujuan sebagai Penyelenggara SPA. Penyelenggara SPA wajib bekerjasama dengan paling sedikit 3 (tiga) Peserta SPA (perusahaan Pialang Berjangka). Wakil Pialang Berjangka merupakan pihak yang mewakili perusahaan Pialang Berjangka dalam berhubungan dengan calon Nasabah ataupun Nasabah. Profesi Wakil Pialang Berjangka memiliki peranan penting dalam industri Perdagangan Berjangka guna menunjang keberhasilan kegiatan tersebut. Hingga saat ini, Bappebti telah mengeluarkan izin sebagai Wakil Pialang Berjangka sebanyak 701 (tujuh ratus satu), sementara yang dicabut izinnya berjumlah 163 (seratus enam puluh tiga) Wakil Pialang Berjangka. Kelompok ini meliputi Penasihat Berjangka, Sentra Dana Berjangka dan Bank Penitipan Margin. Peran selaku Penasihat Berjangka umumnya dirangkap oleh perusahaan Pialang Berjangka, sedangkan Sentra Dana Berjang-

2. Perusahaan Pialang Berjangka

2. Futures Broker firms

As of the end of December 2008, the cumulatively total number of Futures Broker firms stands at 80 (eighty). From the said total, a total of 69 (sixty nine) Futures Broker firms were recorded active and 11 (eleven) Futures Broker firms were subjected to sanction by Coftra and rendered non operational. Out of the 11 (eleven) non operational firms, a total of 10 (ten) firms licenses were revoked by Coftra and 1 (one) firms business license was suspended. The year 2008 did not record any increase or reduction in the number of Futures Traders. Futures Traders take the form of business entities or individuals, who engages in the transaction of futures contract on their own behalf and or on behalf of their business groups. In the SPA scheme they act as Organizer and serve as the counter party against customer orders which is placed through a Futures Brokers (SPA Participant). To date, there was a total of 17 (seventeen) Futures Trader firms that have obtained a permit to act as SPA Organizer. The SPA Organizer must collaborate with at least 3 (three) SPA Participants (Futures Broker firms).

3. Pedagang Berjangka

3. Futures Trader

4. Wakil Pialang Berjangka

4. Futures Broker Representatives

Futures Broker Representatives refer to a party who represent a Futures Broker firms in conducting business with a potential customers or customers. Futures Broker Representative profession plays an important role in the Futures Trading industry by providing support to ensure a successful implementation of the said activity. To date, Coftra has issued a total of 701 (seven hundred one) licenses to act as Futures Broker Representatives, whereas a total of 163 (one hundred sixty three) Futures Broker Representatives licenses were revoked. This group comprises of Futures Advisors, Futures Pools and Fund Deposit banks. The role of Futures Advisors is generally held by the Futures Broker firms, whereas with respect to Futures Pools none has been established to date.

5. Lembaga Penunjang

5. Supporting Institution

18

ka hingga saat ini masih belum terbentuk. Sementara itu, bank yang mendapat persetujuan selaku Bank Penitipan Dana Margin, Dana Kompensasi dan Dana Jaminan, tercatat sebanyak 3 (tiga) bank yaitu CIMB Niaga, Bank BCA dan Bank Century.

In the meantime, 3 (three) banks had obtained permits to act as a Fund Deposit Bank, with the function to receive and deposit Margin, Compensation Fund and Guarantee Fund from the Futures Broker firms. They were CIMB Niaga, Bank BCA and Century Bank.

B. PELAKSANAAN PERDAGANGAN BERJANGKA KOMODITISecara umum, volume transaksi perdagangan berjangka komoditi di Indonesia, baik yang terjadi di BBJ, di luar Bursa, maupun yang dicatatkan atau didaftarkan ke BBJ, mengalami peningkatan dari tahun ke tahun, kecuali pada tahun 2005 yang mengalami sedikit penurunan dibandingkan tahun 2004. Di tahun 2008, total volume transaksi BBJ tercatat mencapai 5.546.381 lot (lihat gambar). Dari gambaran data di atas terlihat bahwa transaksi yang terjadi melalui skema SPA, sangat mendominasi perdagangan dibandingkan dengan transaksi Kontrak Berjangka lainnya. Salah satu faktor penyebabnya adalah mekanisme transaksinya, di mana transaksi SPA dapat dilakukan secara on-line sementara untuk transaksi lainnya belum dapat dilakukan secara on-line. Hal ini berpengaruh terhadap transparansi transaksi dan kecepatan dalam mengambil kesempatan (moment) pada saat terjadi perubahan harga. Peningkatan volume transaksi ini tidak lepas dari upaya ekspansi yang dilakukan oleh perusahaan Pialang Berjangka melalui pembukaan Kantor-kantor Cabang

B. IMPLEMENTATION OF THE COMMODITY FUTURES TRADING1. Development of TransactionsIn general, the volume of the futures contract transactions in Indonesia, be it those executed in the JFX, outside of the exchange, as well as those recorded or listed with the JFX, have shown an increase in number from year to year with the exception of 2005 during which the transaction volume has suffered a slight decrease compared to 2004. In 2008, the JFX recorded a total transaction volume of up to 5,546,381 lots (see picture). Based on the foregoing data description, it is evident that the transactions executed under the SPA scheme are dominating the trading compared to other futures contract transactions. One of the triggering factors is its transaction mechanism, where the SPA transactions can be executed on-line as opposed to other transactions, which cannot yet be done on-line. This affects the transparency of the transactions and speed to seize the moment when the price changes happened. This transaction volumes increase was closely linked to an expansion effort undertaken by the Futures Broker firms through the opening of branch offices in various

1. Perkembangan Transaksi

Kepala Bappebti, Deddy Saleh dan Dirut KBI, Surdiyanto Suryodarmodjo, mengamati transaksi perdagangan berjangka di salah satu perusahaan pialang. 19

ANNUAL REPORT 2008

di berbagai kota besar di tanah air. Selain itu, gencarnya PALN 49.846 lot kegiatan promosi oleh para KIE 49.373 lot Gold 527 lot perusahaan Pialang BerjangKGE 2.538 lot ka dalam memperkenalkan Perdagangan Berjangka Komoditi, tampaknya berhasil meningkatkan animo masyarakat untuk turut berinvestasi dalam industri perdagangan berjangka. Produk Kontrak Berjangka komoditi yang ditawarkan cukup bervariasi, mulai dari yang karakteristiknya berfluktuasi tinggi sampai yang rendah. Hal ini menjadikan investor memiliki banyak pilihan dalam melakukan investasi yang cocok untuk dirinya. Peningkatan volume transaksi juga terjadi karena lesunya kegiatan investasi keuangan di sektor lain, seperti sekuritas, reksadana atau obligasi. Menurut para pelaku usaha, fluktuasi harga dalam investasi di sektor tersebut dinilai lebih kecil atau lebih stabil dibandingkan dengan fluktuasi dalam produk-produk Kontrak Berjangka.

major cities throughout the country. In addition, an active promotion undertaken by the Futures Broker Olein 514 lot firms to introduce the commodity futures trading seem to successfully increased the publics interest to invest in the field of futures trading. A quite variety of a futures contracts being offered, ranging from those with high fluctuation characteristics to those that have low fluctuation characteristics, also provides investors with many options to select the type of investment that is more suitable for them. In addition, the lagging financial investment activities in other SPA 5.442.567 lot sectors, such as security, investment fund, or bonds, also contributed to the increase in transactions volume. The business players view that investment in this sector has lower fluctuation level or more stable compared to the fluctuation level of futures contracts. In 2008, Coftra only issued one Futures Broker firms license to PT. United Asia Futures. A license to operate as SPA Participant had also issued to 5 (five) Futures Broker firms. Besides that, Coftra had also affirmed the establishment of a total of 35 (thirty five) Branch Offices of Futures Broker firm throughout Indonesia.

Di tahun 2008, satu-satunya izin perusahaan Pialang Berjangka yang diterbitkan Bappebti diberikan kepada PT. United Asia Futures. Perizinan lain yang diterbitkan Bappebti selama tahun 2008 adalah persetujuan menjadi Peserta SPA kepada 5 (lima) perusahaan Pialang Berjangka dan penetapan sebanyak 35 (tiga puluh lima) Kantor Cabang perusahaan Pialang Berjangka yang tersebar di seluruh Indonesia.

2. Perizinan Pelaku Usaha

2. Business Player Licensing

Kepala Bappebti, Deddy Saleh, memberi pengarahan kepada pelaku perdagangan berjangka di Surabaya, Jatim, tentang ketentuan teknis prilaku pialang berjangka. 20

C. PEMBINAAN DAN PENGAWASANSelama tahun 2008 Bappebti menerima 1 (satu) usulan produk Kontrak Berjangka baru dari BBJ yaitu Kontrak Gulir Emas dalam mata uang Dollar Amerika Serikat (KGEUSD), yang diluncurkan secara resmi pada tanggal 10 Oktober 2008. KGE-USD merupakan Kontrak Berjangka ke-5 setelah Kontrak Berjangka Emas (KBE), Kontrak Gulir Emas dalam mata uang Rupiah, Kontrak Gulir Emas (KGE) dan Kontrak Indeks Emas (KIE).

C. FOSTERING AND SUPERVISION1. New Futures ContractIn 2008, Coftra received 1 (one) new Futures Contract proposal from the JFX, namely Gold Roll-over Contract in the United States Dollar currency (KGE-USD), which has officially been launched in October 10, 2008. The KGEUSD contract is the 5th futures contract offered by the JFX after the Gold Futures Contract (KBE), Gold Roll-over Contract in the Rupiah currency, Gold Roll-over Contract (KGE) and Gold Index Contract (KIE).Dirut BBJ, Hasan Zein Mahmud, Kepala Bappebti, Deddy Saleh dan Dirut KBI, Surdiyanto Suryodarmodjo, berpose saat peluncuran kontrak KGE USD.

1. Kontrak Berjangka Baru

Dalam rangka pengawasan atas transaksi Kontrak Berjangka di BBJ, Bappebti secara rutin melakukan pemantauan pergerakan harga yang terjadi di Bursa. Hal ini dilakukan untuk memastikan transparansi dan kewajaran harga yang terjadi, selain untuk mendeteksi adanya pelaku usaha yang tidak mematuhi aturan bertransaksi. Untuk mengetahui reliabilitas harga yang terjadi di Bursa, Bappebti mengambil harga komoditi yang sama atau relevan dari Bursa Berjangka luar negeri sebagai harga perbandingan. Kegiatan audit terhadap para pelaku usaha dimaksudkan untuk mengetahui sejauh mana kegiatan yang dilakukan oleh perusahaan Pialang Berjangka dan Pedagang Berjangka telah sesuai dengan peraturan perundang-undangan yang berlaku. Dari hasil audit tersebut, ditemukan beberapa permasalahan yang dihadapi oleh perusahaan Pialang Berjangka, antara lain masih terdapatnya perbedaan interpretasi atas peraturan yang berlaku, terutama mengenai Surat Keputusan Kepala Bappebti; masih banyaknya sumber daya manusia (SDM) yang dimiliki perusahaan Pialang Berjangka yang dinilai kurang atau tidak memahami peraturan yang berkaitan dengan kegiatan Perdagangan Berjangka Komoditi; tidak sesuainya Laporan Keuangan yang disampaikan beberapa perusahaan Pialang Berjangka dengan Pedoman Akuntansi Pialang Berjangka (PAPB) yang berlaku; dan masih banyaknya perusahaan Pialang Berjangka yang belum memiliki Standar Operasional Prosedur (SOP).

2. Pemantauan Harga

2. Price Monitoring

Within the framework of supervising futures contract transaction in the JFX, Coftra has routinely monitored the price movement in the exchange. This is done to ensure price transparency, its fairness, and also helps to detect business players who have violated the rules of transaction. To determine the reliability of the price discovered in the exchange, Coftra has adopted the same or relevant commodity prices from the overseas futures exchange as a comparison.

3. Audit Pelaku Usaha

3. Audits of the Business Player

The auditing of business players is intended to determine the extent of activities undertaken by Futures Broker firms and Futures Traders in accordance to the prevailing legislations. The above mentioned audit discovered a number of issues faced by Futures Broker firms. Among others were the difference in interpretation of the prevailing regulation, particularly a Chairman of Coftras Decree; many human resources of the Futures Broker firms have insufficient or no understanding of the relevant regulations on Commodity Futures Trading; the facts that the financial reports submitted by a number of Futures Broker firms were found to be not in compliance with the Futures Broker Accounting Guideline and that still many Futures Broker firms do not have Standard Operating Procedure (SOP).

21

ANNUAL REPORT 2008

Penyampaian Laporan Keuangan oleh perusahaan Pialang Berjangka selama tahun 2008 dapat dinilai baik. Hal ini tercermin dari jumlah perusahaan Pialang Berjangka yang menyampaikan laporannya secara tepat waktu, meskipun masih terdapat beberapa perusahaan yang tidak menyampaikan Laporan Keuangannya.

4. Penilaian Kepatuhan

4. Compliance Assessment Futures Broker firms are viewed to have properly submitted their financial statements throughout the year 2008. This is evident from the number of Futures Broker firms who have submitted their reports in a timely manner, despite there are still a small number of firms who have failed to submit their financial statements.

Tabel 1. Penyampaian Laporan Keuangan Pialang Berjangka Tahun 2008Penyampaian Laporan Periode Jan Feb Mar Apr Mei Jun Jul Agst Sept Okt Nov Des Tepat Waktu 63 60 55 56 63 55 56 60 60 57 56 59 % 89 85 78 79 89 78 79 85 85 81 79 83 Terlambat6 9 13 12 7 13 12 6 7 9 10 5 Tidak Menyampaikan

2 2 3 3 2 3 2 3 2 3 4 5

Selain penyampaian laporan keuangan, penilaian kepatuhan perusahaan Pialang Berjangka juga dapat dilihat dari pemenuhan atas nilai Modal Bersih Disesuaikan (MBD). Berdasarkan kriteria ini, secara umum perusahaan Pialang Berjangka juga dinilai telah cukup mampu memenuhi persyaratan yang ditetapkan, meskipun masih terdapat beberapa perusahaan yang nilai MBD-nya berada di bawah ketentuan.

Besides the submission of the financial statements, assessment of the Futures Broker firm compliance can also be seen from the level of fulfillment of the Adjusted Net Capital (ANC). Based on these criteria, the Futures Broker firms in general are viewed as quite capable of meeting the stipulated requirements, despite the fact that there are still a number of firms whose ANC rating falls below of the stipulated rate.

Tabel 2. Pemenuhan Nilai Modal Bersih Disesuaikan Pialang Berjangka tahun 2008Nilai Modal Bersih Disesuaikan

Periode

Sesuai Ketentuan

%

Peringatan Dini

Tidak Diketahui

Jan Feb Mar Apr Mei Jun Jul Agst Sept Okt Nov Des 22

44 44 38 48 50 52 58 52 59 54 53 53

61.97 61.97 53.52 67.60 70.42 73.23 81.69 73.23 83.09 76.05 74.64 74.64

5 5 6 9 8 6 2 3 3 3 4 2

2 2 3 1 2 3 2 3 2 3 4 5

D. PENEGAKAN DAN PELAYANAN HUKUMDalam meningkatkan perlindungan kepada masyarakat dari tindakan yang merugikan serta memberikan kepastian hukum bagi semua pihak, Bappebti telah melakukan revisi dan perubahan terhadap peraturan perundang-undangan yang ada. Untuk itu, selama tahun 2008 telah tersusun 1 (satu) Rancangan Undang-Undang (RUU) dan telah diterbitkan 2 (dua) Peraturan Kepala Bappebti yang merupakan penyempurnaan dari peraturan sebelumnya. Ketiga produk hukum tersebut adalah:

D. LEGAL ENFORCEMENT AND SERVICE1. Legislations In order to improve public protection from detrimental trade practices and provide legal certainty to everyone, Coftra had revised and amended the existing legislations. To that end, throughout the year 2008, 1 (one) Bill of Law (RUU) has been drafted and 2 (two) Chairman of Coftras Decrees have been issued, which improved the previous regulations. The three legal instruments are: a. Bill of Law amending the Law No. 32 of 1997 concerning Commodity Futures Trading. In this Bill of Law, a provisions proposed to be amended, among others are those pertaining to the objective of the establishment of futures exchange, namely changing the objective from non-profit oriented to profit oriented; refinement of the limitations for futures contract, as well as a provisions on examination and investigation. b. Chairman of Coftras Decree Number 62/COFTRA/ Per/3/2008 concerning Futures Trader Registration Certificate. This regulation stipulated, among others: A requirements to become a Futures Trader firm, that is individuals or business entities who have become members of the exchange; a requirement to apply a Futures Trader Registration Certificate; and the applicants obligation to complete the application form with the requisite documents. c. Chairman of Coftras Decree Number 63/COFTRA/ Per/3/2008 concerning Technical Provisions on the Behaviors of Futures Broker. This regulation was enacted on September 19, 2008 and was issued to complement the previous Chairman of Coftras Decree, namely Chairman of Coftras Decree Number 52 of 2004. Matters that were refined comprised of: Reaffirmation of the provisions under the Law No. 32/1997 concerning Commodity Futures Broker firms, which stipulated that only Futures Broker Representatives are authorized to conduct business directly with a potential customers or customers. AscopeofauthoritiesoftheFuturesBrokerRepresentative which comprise of mandatory provisions and restrictions for the Futures Broker Representative in conducting business with a potential customers or customers. AmandatoryprovisionsandrestrictionsfortheFutures Broker firms in conducting business with a potential customers or customers. In addition to the drafting of the Bill of Law and issuance of the amending regulations, a draft regulation has also been prepared which will be issued in 2009, namely the Draft Government Regulation on Civil Dispute Settlement in the field of Commodity Futures Trading.23

1. Peraturan Perundang-undangan

a. RUU Perubahan atas Undang-Undang Nomor 32 Tahun 1997 tentang Perdagangan Berjangka Komoditi.Di dalam RUU ini, ketentuan-ketentuan yang diusulkan untuk dirubah antara lain adalah yang menyangkut tujuan pembentukan Bursa Berjangka yaitu dari non-profit oriented menjadi profit oriented; penyempurnaan tentang pembatasan Kontrak Berjangka, serta ketentuan tentang Pemeriksaan dan Penyidikan.

b.Peraturan Kepala Bappebti Nomor 62/BAPPEBTI/ Per/3/2008 tentang Sertifikat Pendaftaran Pedagang Berjangka.

Di dalam peraturan ini diatur beberapa hal, antara lain: persyaratan untuk menjadi perusahaan Pedagang Berjangka, yaitu orang perseorangan atau badan usaha yang telah menjadi anggota Bursa Berjangka; persyaratan permohonan untuk memperoleh Sertifikat Pendaftaran Pedagang Berjangka; serta kewajiban pemohon untuk mengisi formulir permohonan yang dilengkapi dengan dokumen sebagaimana dipersyaratkan.

c.Peraturan Kepala Bappebti Nomor 63/BAPPEBTI/ Per/9/2008 tentang Ketentuan Teknis Perilaku Pialang Berjangka.Peraturan ini ditetapkan pada tanggal 19 September 2008 dan dikeluarkan sebagai penyempurnaan atas peraturan Kepala Bappebti sebelumnya yaitu No. 52 tahun 2004.

Hal-hal yang disempurnakan meliputi: PenegasankembaliketentuandalamUUNo.32/1997 tentang perusahaan Pialang Berjangka Komoditi yang menetapkan hanya Wakil Pialang Berjangka yang berwenang berhubungan langsung dengan calon Nasabah atau Nasabah; RuanglingkupkewenanganWakilPialangBerjangka, yang mencakup hal-hal yang wajib dan yang dilarang dilakukan oleh Wakil Pialang Berjangka dalam berhubungan dengan calon Nasabah atau Nasabah; Hal-halyangwajibdanhal-halyangdilarangdilakukan oleh perusahaan Pialang Berjangka dalam berhubungan dengan Nasabah. Selain penyusunan RUU dan menerbitkan perubahan peraturan tersebut, telah dihasilkan pula rancangan peraturan perundang-undangan yang akan segera dikeluarkan di tahun 2009, yaitu Rancangan Peraturan Pemerintah tentang Penyelesaian Perselisihan Perdata di bidang Perdagangan Berjangka Komoditi.

ANNUAL REPORT 2008

Untuk menumbuhkan sekaligus meningkatkan kepercayaan para pengguna Bursa, diperlukan upaya peningkatan kepastian hukum. Salah satu strategi yang dijalankan adalah melalui penegakan hukum. Kasus-kasus dugaan pelanggaran dalam kegiatan Perdagangan Berjangka yang selama ini ditangani Bappebti umumnya merupakan kasus-kasus yang berkaitan dengan pelanggaran yang dilakukan oleh perusahaan Pialang Berjangka. Kasus-kasus tersebut antara lain yang terkait dengan pelanggaran dalam pengelolaan Rekening Terpisah, tidak diterapkannya prinsip Know Your Customer saat berhubungan dengan calon Nasabah/Nasabah, serta pelaksanaan transaksi yang tidak sesuai dengan ketentuan. Dalam rangka penegakan hukum tersebut, Bappebti telah melakukan hal-hal sebagai berikut:

2. Penegakan Hukum

2. Law Enforcement

To improve as well as strengthen the exchange users trust, efforts to improve legal certainty need to be made and one of the actionable strategies is through law enforcement. In the meantime, alleged violation cases in the field of Futures Trading activities that to date have been handled by Coftra in general constitutes of cases relating to violations committed by Futures Broker firms. These cases, among others, are tied to a violations committed in managing Segregated Accounts, as well as failure to implement the Know Your Customer principle when conducting business with a potential customers, and execution of non conforming transactions. Within the framework of law enforcement, Coftra has taken the following actions: a. Examination and Investigation One of the authorities conferred to and held by Coftra is to conduct an examination and investigation on the parties suspected to have committed a violation against the provisions of Law No. 32/1997, and the implementing regulations thereof. Throughout 2008, Coftra has examined 12 (twelve) cases of alleged violations and conducted an investigation in collaboration with the Police Force of 32 (thirty two) cases of alleged violations in the field of Futures Trading. Based on the result of the examination, 5 (five) firms were subjected to administrative sanction in the form of written reprimand and its business players were also instructed to undertake remedial action. As an outcome of the collaboration with the Police Force, 33 (thirty three) cases were investigated and 3 (three) cases reached the court examination phase and verified to be criminal actions. b. Determination of Witnesses Coftra has continued to make consistent law enforcement efforts. In 2008 Coftra imposed the following administrative sanctions: b.1. Administrative sanction in the form of penalty Sanctions in the form of penalty are generally imposed to Futures Broker firms who have neglected to submit their financial statements (monthly, quarterly or annual) to Coftra in a timely manner. Throughout 2008, a number of Broker firms were subjected to administrative sanctions due to late submission of their financial statements. b.2. Other administrative sanction In addition to imposing administrative sanctions in the form of penalty, Coftra has also imposed administrative sanctions in the form of written reprimands, suspension of business activities, and revocation of business licenses to parties who have been proven to have committed violation against the prevailing legislations. 6 (six) Futures Broker firms were recorded to have been subjected to administrative sanction in the form of written reprimands, and 5 (five) Futures Broker firms were subjected to sanctions in the form of revocation of their business licenses, namely:

a. Pemeriksaan dan Penyidikan

Salah satu kewenangan yang melekat dan dimiliki Bappebti adalah melakukan pemeriksaan dan penyidikan terhadap para pihak yang diduga melakukan pelanggaran terhadap ketentuan Undang-Undang No. 32/1997 dan peraturan pelaksanaannya. Selama tahun 2008, Bappebti telah melakukan pemeriksaan atas 12 (dua belas) kasus dugaan pelanggaran dan melakukan penyidikan melalui mekanisme kerjasama dengan pihak Kepolisian terhadap 32 (tiga puluh dua) kasus dugaan tindak pidana di bidang perdagangan berjangka. Berdasarkan hasil pemeriksaan tersebut, terdapat 5 (lima) perusahaan yang telah dijatuhi sanksi administratif berupa sanksi tertulis dan kepada para pelaku usahanya telah diminta untuk melakukan tindakan perbaikan. Setelah bekerjasama dengan pihak Kepolisian, terdapat 33 ( tiga puluh tiga) kasus yang disidik, di mana 3 (tiga) kasus di antaranya telah mencapai tahap pemeriksaan di sidang pengadilan karena terbukti melakukan tindak pidana.

b. Penetapan Sanksi

Upaya penegakan hukum secara konsisten terus dilakukan Bappebti. Di tahun 2008, Bappebti telah mengenakan sanksi administratif sebagai berikut: b.1. Sanksi administratif berupa denda Sanksi berupa denda umumnya dikenakan akibat kelalaian perusahaan Pialang Berjangka dalam menyampaikan Laporan Keuangan (bulanan, triwulan, atau tahunan) kepada Bappebti secara tepat waktu. Sepanjang tahun 2008 terdapat sejumlah perusahaan Pialang yang dikenakan denda administratif karena terlambat menyampaikan Laporan Keuangan. b.2. Sanksi administratif lainnya Selain penetapan sanksi administratif berupa denda, Bappebti juga menetapkan sanksi administratif berupa peringatan tertulis, pembekuan kegiatan usaha, dan pencabutan izin usaha kepada pihak-pihak yang terbukti telah melakukan pelanggaran terhadap peraturan perundang-undangan yang berlaku. Tercatat sebanyak 6 (enam) perusahaan Pialang Berjangka yang mendapat sanksi administratif berupa peringatan tertulis dan 5 (lima) perusahaan Pialang Berjangka yang mendapat sanksi pencabutan kegiatan usaha, yaitu:

24

1. 2. 3. 4. 5.

PT. Artha Berjangka Nusantara PT. Graha Finesa Berjangka PT. Cayman Trust Futures PT. Piranti Jaya Artha Berjangka PT. Quantum Futures. Di samping itu terdapat sebanyak 39 (tigapuluh sembilan) orang Wakil Pialang Berjangka yang izinnya dicabut Bappebti.

1. 2. 3. 4. 5.

PT. Artha Berjangka Nusantara PT. Graha Finesa Berjangka PT. Cayman Trust Futures PT. Piranti Jaya Artha Berjangka PT. Quantum Futures. In addition, Coftra revoked the license of 39 (thirty nine) Futures Broker Representatives.

Sebagai lembaga yang melakukan pembinaan, pengaturan dan pengawasan di bidang Perdagangan Berjangka Komoditi, Bappebti juga melakukan berbagai upaya pelayanan hukum, antara lain berupa keterlibatan dalam penanganan perkara, pemberian keterangan sebagai saksi, dan koordinasi dengan aparat penegak hukum. Di sisi lain, sebagai lembaga administrasi negara, Bappebti juga tidak terlepas dari gugatan dari para pelaku pasar yang merasa tidak puas dengan keputusan atau ketetapan yang telah dibuat Bappebti. Ketidakpuasan terhadap Bappbeti itu disampaikan dalam gugatan perdata atau pun tata usaha negara. Adapun kegiatan yang terkait dengan pelayanan hukum dan litigasi adalah:

3. Pelayanan Hukum dan Litigasi

3. Legal and Litigation Service

As an agency who fosters, regulates and supervises the Commodity Futures Trading activities, Coftra has also taken various efforts to provide legal services, among others in the form of participation in handling cases, providing statements as a witness, and coordination with law enforcers. On the other hand, as a state administration agency, Coftra has also been a subject of claims filed by market players who were unsatisfied by Coftras decision or ruling. Such dissatisfaction against Coftra was addressed in a form of claims filed with the civil court or state administrative court. The following are activities undertaken within the framework of a provision of legal and litigation services: a. Cases handled Throughout the year 2008, Coftra has handled 3 (three) claims filed by customers against Futures Broker firms as well as against Coftra. b. Statements provided as a witness Coftra has recorded a total of 33 (thirty three) activities, which ranged from serving as an expert witnesses or expert in a civil as well as criminal case processed by the Police Office or in Court. A total of 30 (thirty) statements were provided in its capacity as an expert witness in the course of a Police examination and 3 (three) statements were provided in its capacity as an expert witness in Court. c. Coordination with Law Enforcer Officials Coftra has consistently held coordination meetings in order to harmonize its perception with law enforcer officials throughout Indonesia. A total of 3 (three) coordination meetings were held in the year 2008, respectively in Palembang - South Sumatra, Pontianak - West Kalimantan and Surabaya - East Java. The importance of having this coordination meeting program has increasingly grew along with the growth of fund raising practices from public resources using various modus operandi in many regions, particularly those that are linked to Commodity Futures Trading activities that were found to have detrimental impact on the public. This unscrupulous acts were committed by both firms who have obtained licenses from Coftra as well as illegally operating firms. Although Coftras Civil Servant Investigators are authorized to undertake investigation on Commodity Futures Trading cases, given its human resources and funding limitation, Coftra has established collaborations with law enforcers in the region to resolve these cases and protect the public from such unscrupulous acts at once.

a. Penanganan perkara

Selama tahun 2008, Bappebti telah menangani 3 (tiga) perkara gugatan Nasabah terhadap perusahaan Pialang Berjangka maupun terhadap Bappebti. Kegiatan pelayanan hukum menjadi saksi ahli atau ahli dari kasus perdata maupun pidana yang diproses baik di Kepolisian maupun di Pengadilan, tercatat sebanyak 33 (tiga puluh tiga) kali. Dari jumlah tersebut sebanyak 30 (tiga puluh) kali berupa pemberian keterangan sebagai saksi ahli yang dilakukan dalam pemeriksaan di Kepolisian dan 3 (tiga) kali pemberian keterangan sebagai saksi ahli di Pengadilan. Bappebti secara konsisten melakukan rapat koordinasi untuk menyamakan persepsi dengan aparat penegak hukum di seluruh Indonesia. Selama tahun 2008 telah dilakukan 3 (tiga) kali rapat koordinasi, masing-masing di Palembang - Sumatera Selatan, Pontianak - Kalimantan Barat, dan Surabaya Jawa Timur. Program rapat koordinasi ini menjadi sangat penting dengan semakin berkembangnya kegiatan pengumpulan dana masyarakat di berbagai daerah dengan berbagai modus, khususnya untuk kegiatan Perdagangan Berjangka Komoditi, yang ternyata merugikan masyarakat. Kegiatan yang merugikan itu dilakukan baik oleh perusahaan yang memiliki izin Bappebti, maupun oleh perusahaan illegal. Meskipun Penyidik Pegawai Negeri Sipil (PPNS) Bappebti berwenang untuk melakukan penyidikan kasus Perdagangan Berjangka Komoditi, namun mengingat keterbatasan sumber daya manusia dan dana, maka jalinan kerjasama antara Bappebti dengan aparat penegak hukum di daerah merupakan jalan keluar untuk menyelesaikan kasus-kasus yang terjadi, dan sekaligus untuk melindungi masyarakat dari praktek yang merugikan.

b. Pemberian keterangan sebagai saksi

c. Koordinasi dengan aparat penegak hukum

25

ANNUAL REPORT 2008

d.Satuan Tugas Penanganan Dugaan Tindakan Melawan Hukum

Berdasarkan Surat Keputusan Ketua BapepamLK No. Kep-208/BL/2007 tanggal 20 Juni 2007 yang diperpanjang dengan Surat Keputusan Ketua Bapepam-LK No. Kep-78/BL/2008 tanggal 27 Maret 2008, telah dibentuk Satuan Tugas Penanganan Dugaan Tindakan Melawan Hukum di Bidang Penghimpunan Dana Masyarakat dan Pengelolaan Investasi, yang selanjutnya disebut Satgas. Satgas beranggotakan perwakilan pejabat dari Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) - Departemen Keuangan, Bank Indonesia, Kepolisian Negara Republik Indonesia, Pusat Pelaporan Analisis Transaksi Keuangan (PPATK), Direktorat Jenderal Perdagangan Dalam Negeri - Departemen Perdagangan dan Badan Pengawas Perdagangan BerjangkaKomoditi (Bappebti) - Departemen Perdagangan. Program kerja Satgas terdiri dari program pencegahan dan program penanganan. Tujuan pokok program pencegahan adalah memberikan penjelasan kepada masyarakat sehingga masyarakat dapat mengidentifikasi bentuk-bentuk penghimpunan dana dan pengelolaan investasi, baik yang legal maupun yang illegal. Diharapkan akan timbul sikap kritis dan waspada di kalangan masyarakat tentang berbagai kegiatan investasi. Kegiatan program pencegahan dilakukan melalui sosialisasi berupa public expose, iklan, penyebaran brosur dan poster serta seminar - workshop mengenai tindakan melawan hukum di bidang penghimpunan dana masyarakat dan pengelolaan investasi. Selama tahun 2008, Satgas telah melaksanakan 2 (dua) kali sosialisasi berupa seminar Waspada Investasi di 2 (dua) kota besar yakni di Denpasar - Bali pada tanggal 27 Mei 2008 dan di Batam - Kepri tanggal 16 Juli 2008. Program penanganan dilakukan sebagai tindak lanjut diterimanya pengaduan laporan masyarakat terkait dengan kegiatan penghimpunan dana masyarakat dan pengelolaan investasi. Sepanjang tahun 2008, Satgas menerima pengaduan terhadap 37 (tiga puluh tujuh) pihak yang diduga melakukan tindakan melawan hukum di bidang penghimpunan dana masyarakat dan pengelolaan investasi.

d.Task Force for Charges of Illegal Practices By virtue of the Chairman of Indonesian Capital Market and Financial Institutions Supervisory Agencys Decree, Kep-208/BL/2007 dated June 20, 2007 which was renewed by the same Officials Decree, Kep-78/BL/2008 dated March 27, 2008, a Task Force was established to handle Charges of Illegal Fund Raising Practices from Public Resources and Investment Management, which shall hereinafter be referred to as the Task Force. The Task Forces members consist of representatives from the Capital Market and Financial Institutions Supervisory Agency - Ministry of Finance, Bank of Indonesia, Police Force of the Republic of Indonesia, Financial Transaction Reports and Analysis Center (PPATK), and Directorate General of Domestic Trade and the Commodity Futures Trading Regulatory Agency (Coftra) - Ministry of Trade. The Task Forces work program comprised of prevention program and case management program. The main purpose of the prevention program is to provide an explanation to public to help them identify both the legal and illegal forms of fund raising and investment management practices. The expected outcome of this program is to make public more critical and aware of various investment activities taking place within their community. Prevention program is rolled out through socialization activities in the form of public expose, advertisement, distribution of brochures and posters, as well as seminars and workshops on illegal practices in raising fund from public resources and investment management. Throughout the year 2008, the Task Force has delivered 2 (two) socialization activities by organizing Investment Awareness seminars in 2 (two) major cities, namely Denpasar, Bali on May 27, 2008 and in Batam, Kepri on July 16, 2008. Case management program is rolled out as a follow up to the reports received from public regarding fund raising practices from public resources and investment management. Throughout the year 2008, the Task Force has received reports against 37 (thirty seven) parties that were alleged to have committed illegal fund raising from public resources and investment management practices.Sosialisasi perdagangan berjangka untuk kalangan aprat penegak hukum

26

e. Pendirian BAKTIMengingat Perdagangan Berjangka Komoditi adalah kegiatan bisnis yang kompleks dan melibatkan banyak pihak di dalamnya, maka dalam kegiatan itu dibutuhkan dasar hukum yang kuat. Hal itu guna memberikan kepastian hukum serta melindungi masyarakat dari praktek-praktek perdagangan yang merugikan. Berkaitan dengan itu, diperlukan mekanisme penyelesaian perselisihan yang cepat dan terjangkau, yakni melalui mediasi dan arbitrase. Untuk tujuan tersebut, Bappebti bersama PT. Bursa Berjangka Jakarta, PT. Kliring Berjangka Indonesia (Persero), Asosiasi Pialang Berjangka Indonesia (APBI), dan Ikatan Perusahaan Pedagang Berjangka Indonesia (IP2BI) membentuk Badan Arbitrase Perdagangan Berjangka Komoditi (BAKTI) pada tanggal 7 Nopember 2008, yang disaksikan langsung oleh Menteri Perdagangan RI, Mari Elka Pangestu. BAKTI adalah suatu perhimpunan berbadan hukum yang memiliki fungsi sebagai sarana penyelesaian sengketa di luar pengadilan melalui mekanisme mediasi, pemberian pendapat yang mengikat, dan arbitrase. Institusi ini merupakan lembaga yang mandiri dan independen, yang dapat memfasilitasi penyelesaian sengketa perdata di bidang Perdagangan Berjangka Komoditi.

e. Establishment of the Commodity Futures Trading Arbitration Agency Bearing in mind that Commodity Futures Trading are a complex business activity involving multi parties, a strong legal foundation for such activity is required to provide legal certainty and protect the public from unscrupulous trade practices at once. In that respect, a quick and affordable dispute settlement mechanism, namely through mediation and arbitration, is required. To that end, Coftra jointly with the Jakarta Futures Exchange (JFX), PT. Kliring Berjangka Indonesia (Persero), the Indonesian Futures Broker Association, and the Indonesian Futures Traders Association, established the Commodity Futures Trading Arbitration Agency (CFTAA) in November 7, 2008. The establishment of CFTAA was officially attended by the Minister of Trade of the Republic of Indonesia. CFTAA is an agency in the form of legal entity that serves the function of facilitating out of court dispute settlements through the mechanisms of mediation, issuance of binding opinions, and arbitration. This institution is an independent agency that can facilitate the settlement of civil disputes relating to Commodity Futures Trading.

Menteri Perdagangan, Mari Elka Pangestu dan Kepala Bappebti, Deddy Saleh, menyaksikan penandatanganan akta pendirian BAKTI.

27

ANNUAL REPORT 2008

28

PASAR LELANG KOMODITI AGROKegiatan perdagangan komoditi agro yang dilakukan dengan sistem lelang telah dikembangkan Bappebti sejak tahun 2003. Dalam pelaksanaannya, pasar lelang terdiri dari 2 (dua) bentuk, yaitu pasar lelang forward dan pasar lelang spot. Pengertian pasar lelang forward adalah penyerahan dan pembayaran barang (komoditi)nya dilakukan beberapa waktu kemudian, dan disesuaikan dengan perjanjian antara pihak penjual dan pembeli. Umumnya penyerahan barang paling lama 6 (enam) bulan). Di pasar lelang spot, penyerahan dan pembayaran barangnya dilakukan pada saat transaksi terjadi. Tujuan penyelenggaraan Pasar Lelang Komoditi Agro (PLKA) antara lain menciptakan sistem perdagangan yang baik melalui mekanisme penentuan harga yang transparan, meningkatkan efisiensi dan efektivitas sistem perdagangan, mencukupi kebutuhan antar daerah, serta menciptakan insentif bagi peningkatan mutu produk. Sejak diluncurkannya progam PLKA oleh Bappebti pada tahun 2003, sejumlah pemerintah daerah dan kalangan legislatif memberi sambutan positif dan dukungan. Hal tersebut dapat dilihat dari bertambahnya pendirian PLKA, meningkatnya kualitas penyelenggaraan, jenis komoditi yang ditawarkan semakin beragam dan bertambahnya frekuensi pelaksanaan pasar lelang. Hingga akhir tahun 2008, telah terbentuk sebanyak 20 (duapuluh) penyelenggara PLKA di 19 (sembilan belas) provinsi, dimana 18 (delapanbelas) di antaranya merupakan pasar lelang forward. 2 (dua) pasar lainnya adalah pasar lelang spot untuk komoditi kakao yang terdapat di Provinsi Sumatera Utara dan pasar lelang spot untuk komoditi karet di Provinsi Jambi. Selama tahun 2008 telah dilaksanakan PLKA sebanyak 110 kali di 19 daerah, yang terdiri dari 12 (duabelas) kali pasar lelang spot dan 98 kali pasar lelang forward. Total nilai transaksi pasar lelang forward tercatat sebesar Rp 1.629.075.924.721,- (satu triliun enamratus duapuluhsembilan miliar tujuhpuluhlima juta sembilanratus duapuluh empatribu tujuhratus duapuluhsatu rupiah). Jumlah peserta yang hadir dalam pelaksanaan pasar lelang forward ini tercatat sebanyak 437 (empat ratus tiga puluh tujuh) orang penjual dan 308 (tigaratus delapan) orang pembeli. Komoditi agro yang ditransaksikan sebanyak 116 (seratus enambelas) jenis, terdiri dari berbagai macam produk hasil pertanian/perkebunan, komoditi hasil olahan dan hasil peternakan/perikanan, seperti beras, jagung, sapi, buah-buahan, sayuran, ikan, kopra, cabai, lada, rumput laut, kentang, cengkih, vanilli, dan lain-lain. Terdapat sebanyak 10 (sepuluh) komoditi yang mendominasi transaksi pasar lelang forward dengan nilai transaksi tertinggi, yaitu berturut-turut sapi (Rp 448 miliar), beras (Rp 250 miliar), rumput laut (Rp 207 miliar), kopra (Rp 86 miliar), buah-buahan (Rp 84 miliar), kopi (Rp 83 miliar), coklat (Rp 52 miliar), kentang (Rp 47 miliar), jagung (Rp 46 miliar), dan cabai (Rp 38 miliar). Transaksi pasar lelang forward selengkapnya adalah sebagai berikut: .

AGRO COMMODITY AUCTION MARKETA. DEVELOPMENT OF ACTIVITIESCoftra has been developing the agro commodity trading activities through the Auction system since the year 2003. In its implementation, there are 2 (two) forms of auction market, namely Forward Auction Market and Spot Auction Market. Forward market is defined as the delivery and payment of commodities or goods traded are done at a subsequent date, as mutually agreed between seller and its buyer. In general, a maximum of the delivery period is 6 (six) months. Spot market is defined as the delivery and payment of commodities or goods traded are done during the execution of the transaction. The objective of organizing the Agro Commodity Auction Market (in bahasa Indonesia: Pasar Lelang Komoditi Agro - PLKA) are among others, to establish a proper trade system through a transparent pricing mechanism, improving the efficiency and effectiveness of the trading system, meeting inter-regional needs, and creating incentives to improve the quality of products. Since Coftra launched the PLKA program in 2003, it has received positive responses and support from a number of local governments and members of the legislative community. This is evident from the increasing number of PLKA establishment, improved quality of organization, increase in the diversity of the types of commodities being offered and increase in the frequency of organization of auction markets. Up to the end 2008, a total of 20 (twenty) PLKAs organizers have been established in 19 (nineteen) provinces, comprising of 18 (eighteen) forward auction markets, and 2 (two) spot auction markets, namely in North Sumatra Province for cocoa and in Jambi Province for rubber.

A. PERKEMBANGAN KEGIATAN

B. PELAKSANAAN PASAR LELANG

Throughout the year 2008, a total of 110 PLKAs were organized in 19 regions, comprising of 12 (twelve) spot auction market activities and 98 (ninety eight) forward auction market activities. The year 2008 recorded a total transaction of Rp. 1,629,075,924,721,- (one trillion six hundred twenty nine billion seventy five million nine hundred twenty four thousand seven hundred twenty one Rupiah) in the forward auction market transactions. The total recorded number of participants attending the forward auction market activities was 437 (four hundred thirty seven) sellers and 308 (three hundreds eight) buyers. A total 116 (one hundred sixteen) types of agro commodities were traded, comprising of various farm/plantation products, processed commodities, animal husbandry/fishery products, such as rice, corn, cow, fruits, vegetables, fish, copra, chili pepper, pepper, seaweed, potato, cloves, vanilla, and others. In the meantime, a total of 10 (ten) commodities dominated the forward auction market transactions with the highest transaction value, respectively cow (448 billion rupiah), rice (250 billion rupiah), seaweed (270 billion rupih), copra (86 billion rupiah), fruits (84 billion rupiah), coffee (83 billion rupiah), chocolate (52 billion rupiah), potato (47 billion rupiah), corn (48 billion rupiah), and chili pepper 38 billion. The complete details of the forward auction market transaction are as follows;

B. OPERATION AND ORGANIZATION OF AUCTION MARKET

29

ANNUAL REPORT 2008

Tabel 3. TRANSAKSI PASAR LELANG 19 PENYELENGGARA BERDASARKAN NILAI TRANSAKSI TERTINGGI TAHUN 2007 dan 2008Tahun NO1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19^ (%) ^ (%)

DAERAHJAW TENGAH A JAW TIMUR A BALI JAW BARA A T SULAWESI SELA TAN LAMPUNG SULAWESI UTARA NUSA TENGGARA BARA T DKI JAKARTA BARLINGMASCAKEB RIAU JAMBI KAB.AGAM KALIMANTAN TIMUR KALIMANTAN BARA T SULAWESI TENGGARA SUMA TERA BARA T SUMA TERA UTARA BENGKULU

2006Rp745,713,922,710 Rp 248,209,895,000 Rp 63,380,330,000 Rp122,707,595,000 Rp119,395,400,000 Rp 6,857,625,000 Rp 54,255,717,000 Rp 15,685,775,000 Rp 238,474,775,000 Rp 56,026,350,000 Rp 28,607,300,000 Rp 4,131,561,000 Rp 5,748,097,500 Rp 23,594,000,000 Rp 34,942,200,000 Rp 9,646,605,000 Rp 4,364,990,000 Rp 10,275,428,885 Rp 6,424,720,000 Rp 1,798,442,287,075

2007Rp 429,206,238,271 Rp 269,054,125,000 Rp 291,723,682,500 Rp 107,157,225,000 Rp 102,837,560,000 Rp 6,164,780,000 Rp 142,329,365,000 Rp 75,278,225,000 Rp 181,327,900,000 Rp 62,048,950,000 Rp 14,671,790,000 Rp 9,595,989,000 Rp 7,449,625,250 Rp 433,840,000 Rp 3,228,900,000 Rp 9,200,755,000 Rp 2,402,768,000 Rp 4,045,092,650 Rp 1,641,500,000 Rp 1,719,798,310,671

2008Rp 447,792,750,000 Rp 436,224,275,000 Rp 258,770,250,000 Rp 102,709,095,000 Rp 78,960,900,000 Rp 75,617,679,000 Rp 59,381,125,000 Rp 57,462,490,000 Rp 43,817,500,000 Rp 24,391,290,000 Rp 10,305,400,000 Rp 6,531,050,000 Rp 6,200,252,000 Rp 5,513,040,000 Rp 5,196,000,000 Rp 3,806,500,000 Rp 3,410,208,000 Rp 2,397,119,721 Rp 589,000,000 Rp 1,629,075,924,721

2007 & 2006

2008 & 2007

-42.44% 8.40% 360.27% -12.67% -13.87% -10.10% 162.33% 379.91% -23.96% 10.75% -48.71% 132.26% 29.60%98.16% 90.76% -4.62% -44.95% -60.63% -74.45% -4.37%

4.33% 62.13% -11.30% -4.15% -23.22% 1126,61% -58.28% -23.67% -75.84% -60.69% -29.76% -31.94% -16.77% 1170.75% 60.92% -58.63% 41,93% -40.74% -64,12% -5.28%

Sumber : Diolah dari data transaksi 19 Penyelenggara Pasar Lelang tahun 2008 dan 2007.

Mengacu pada nilai transaksi di atas, secara keseluruhan penyelenggaraan PLKA pada tahun 2008 di 19 (sembilanbelas) daerah mengalami penurunan dibandingkan dengan tahun 2007, baik frekuensi pelaksanaan maupun nilai transaksinya. Pelaksanaan pasar lelang forward yang tercatat sebanyak 110 kali, mengalami penurunan 32 kali (-22,54%) dibandingkan dengan tahun 2007 yang mencapai sebanyak 142 kali. Dalam hal nilai transaksi, pelaksanaan pasar lelang forward selama tahun 2008 turun sekitar 5,28% dibandingkan dengan di tahun 2007. Penurunan nilai transaksi tersebut terjadi karena adanya penurunan permintaan terhadap beberapa komoditas yang diperdagangkan.

In reference to the foregoing transaction value, overall the number of PLKA organized in 19 (nineteen) regions in the year 2008 have declined compared to those organized in 2007, be it with respect to the frequency of implementation or transaction value. The recorded forward auction market organized stands at 110 times or 32 times lower (-22,54%) compared to 2007, which reached a total of 142 times. The total transaction value of the forward auction market in 2008 suffered a 5,28% decline compared to 2007. Such decline in transaction value is due to the declining demand towards a number of commodities being traded in the forward auction market.

30

Bappebti selaku institusi pembinaan pasar lelang, telah melaksanakan evaluasi terhadap penyelenggaraan pasar lelang forward di 19 (sembilan belas) daerah. Dari hasil evaluasi, penyelenggaraan pasar lelang forward secara umum dinilai telah cukup baik, dilihat dari sisi kuantitas maupun kualitas. Namun demikian masih terdapat beberapa kendala. Antara lain: penyelenggara pasar lelang tidak memiliki SDM yang menangani pasar lelang secara khusus dan belum sesuainya kelembagaan pasar lelang dengan apa yang ditetapkan melalui Surat Keputusan Menperindag No. 650/MPP/Kep/10/2004 tentang Ketentuan Penyelenggaraan Pasar Lelang Komoditi Agro dengan Penyerahan Kemudian (Forward). Selain itu masih ditemui adanya jadwal penyelenggaraan pasar lelang yang masih bersifat tentatif dan relatif tidak sesuai dengan jadwal panen komoditas. Dari berbagai kendala tersebut, Bappebti mengharapkan agar para penyelenggara pasar lelang dapat segera mengatasi dan mengantisipasinya di masa mendatang. Dengan demikian keberadaan pasar lelang forward semakin dapat dirasakan manfaatnya oleh para pelaku usaha, khususnya para petani produsen, dalam rangka meningkatkan kesejahteraan masyarakat.

C. EVALUASI PASAR LELANG

C. EVALUATION OF AUCTION MARKETS

Coftra as an institution in charge of fostering auction market has conducted an evaluation of the organization of forward auction markets in 19 (nineteen) regions. The said evaluation identified that in general the forward auction markets were appropriately organized, viewed from the quantity or quality perspective. However, some obstacles remain, namely that the auction market organizers still lack human resources with expertise especially in handling auction markets and the fact that the auction market institutions have not yet to conform with the stipulations set forth under the Minister of Trade and Industrys Decree No. 650/MPP/ Kep/10/2004 concerning Provisions on the Organization of Agro Commodity Auction Market with Subsequent Delivery (Forward). In addition, the operation of the Auction Market tended to be scheduled tentatively and in general did not match the commodities harvesting schedule. Based on the said identified obstacles, Coftra expected that the auction market organizers can take immediate actions to overcome and anticipate these obstacles in the future so that the business players can reap greater benefit from the existence of these forward auction markets, particularly the farmer producers, towards improving the communitys welfare.

Penyelenggaraan pasar lelang komoditi agro di Soropadan, Semarang, Jateng.

31

ANNUAL REPORT 2008

Kepala Bappebti,Deddy Saleh, memberi pengarahan pada penyelenggaraan pasar lelang komoditi agro.

Terkait dengan pembinaan pasar lelang di daerah, Bappebti telah mengadakan koordinasi dengan para penyelenggara. Dari hasil koordinasi tersebut, Bappebti meminta penyelenggara pasar lelang agar secara teratur dan tepat waktu menyampaikan laporan dan melakukan pemantauan realisasi transaksinya. Hal ini untuk mengetahui sejauh mana realisasi dari transaksi yang terjadi, jumlah gagal serah atau gagal bayar, serta apa penyebab terjadinya gagal serah dan gagal bayar tersebut agar dapat diantisipasi di masa mendatang. Selain itu juga dilakukan koordinasi dengan para petugas backoffice, guna memonitor laporan hasil pelaksanaan lelang di daerah dan melakukan pengolahan data sesuai yang dibutuhkan Bappebti.

D. PEMBINAAN PASAR LELANG

With respect to the fostering of auction markets in the regions, Coftra has established coordination with the organizers and requested them to submit the report of their operation regularly and in a timely manner. The Auction Market Organizers were subsequently also instructed to monitor the realization of the transactions to determine the extent of the fulfillment of the existing transactions, the total number of failed deliveries or failed payments, along with the causes of such failed deliveries or failed payments. It is important to identify the causes of these failed deliveries or failed payments so that these causes can be anticipated in the future. In addition, coordination with the back office staffs were also established to monitor the reports on the outputs of the Auction Market operation in the region and to process the data in accordance to the needs of Coftra.

D. FOSTERING OF AUCTION MARKETS

E. PENGEMBANGAN PASAR LELANGUntuk tercapainya sasaran dan tujuan penyelenggaraan PLKA, Bappebti telah melakukan kerjasama dengan tenaga ahli dari International Finance Corporation (IFC) World Bank. Dari kerjasama tersebut diharapkan di masa mendatang PLKA terselenggara secara mandiri, handal dan profesional. Berkaitan dengan itu, telah dipilih 5 (lima) daerah penyelenggara pasar lelang untuk dikembangkan menjadi pasar lelang yang dikelola oleh pihak swasta, BUMD dan koperasi, yang masing-masing berlokasi di Jawa Timur, Jawa Barat, Jawa Tengah, Bali, dan Sulawesi Selatan. Pengelolaan PLKA oleh pihak swasta tersebut diarahkan dengan penerapan 3 (tiga) pola lelang, yaitu cash, spot, dan forward. Perbedaan dari ketiga pola tersebut

E. DEVELOPMENT OF AUCTION MARKETS1.Independent Auction MarketTo achieve the goal and objective of the PLKA activities, Coftra has established cooperation with experts from the International Finance Corporation (IFC) World Bank. It was expected that the said cooperation will help the PLKA to be organized independently, reliably and professionally in the future. In that respect, 5 (five) auction market organizing regions have been selected to be developed as auction markets which will be managed by the private sector, Regionally Owned Enterprises (BUMD) and cooperatives. These regions are respectively East Java, West Java, Central Java, Bali and South Sulawesi. The management of PLKA by the private sector was directed to be implemented based on 3 (three) auction schemes, namely cash, spot and forward market. The difference of the three schemes lies in the period of

1. PLKA Mandiri

32

terletak pada jangka waktu penyerahan barang/komoditi dari penjual ke pembeli. Dengan pola cash, penyerahan barang/komoditi dilakukan saat terjadinya transaksi. Pada pola spot, penyerahan barang/komoditi terjadi paling lambat 1 (satu) sampai dengan 7 (tujuh) hari setelah transaksi, sedangkan pada pola forward, terjadi paling lambat 7 (tujuh) hari sampai dengan 3 (tiga) bulan setelah transaksi. Kriteria pemilihan 5 (lima) daerah di atas, didasarkan pada beberapa indikator, antara lain volume transaksi; fokus pada komoditas yang dapat di-Resi Gudang-kan; potensi untuk mengaplikasikan sistem perdagangan cash, spot, dan forward; realisasi transaksi; sistem komunikasi; ketersediaan pergudangan di sekitar lokasi pasar lelang; dukungan pemerintah daerah; penggunaan bank dalam penyelesaian transaksi; adanya Lembaga Penilaian Kesesuaian; serta tersedianya sarana atau infrastuktur lainnya yang dapat mendukung perkembangan pasar lelang. Selain itu, diharapkan juga dapat terciptanya sistem mekanisme pasar lelang yang profesional dan terintegrasi dalam Sistem Resi Gudang. Penyelenggaraaan PLKA di 19 (sembilanbelas) daerah dilakukan dengan pendanaan yang berasal dari Dana Dekonsentrasi Anggaran Pendapatan dan Belanja Negara (APBN) serta Anggaran Pendapatan dan Belanja Daerah (APBD). Pemberian Dana Dekonsentrasi Pasar Lelang dari Bappebti dimulai sejak tahun 2005 kepada 8 (delapan) daerah, yakni Propinsi Sulawesi Utara, Jawa Barat, Jawa Timur, Jawa Tengah, Riau, NTB, Bali dan DKI Jakarta. Nilai Dana Dekonsentrasi yang diberikan kepada penyelenggara PLKA meningkat hingga tahun 2006 karena adanya beberapa daerah yang membangun gedung lelang, namun sejak tahun 2007 hingga tahun 2008 nilai Dana Dekonsentrasi pasar lelang menurun di hampir semua penyelenggara pasar lelang. Dalam kaitan perencanaan dan evaluasi Dana Dekonsentrasi PLKA, telah dilaksanakan Forum Konsultasi Teknis Perencanaan dan Evaluasi Program Kerja Dana Dekonsentrasi Pasar Lelang. Forum konsultasi ini bertujuan untuk melakukan evaluasi terhadap penyelenggaraan pasar lelang selama tahun 2008, mencari solusi atas permasalahan yang dihadapi, serta untuk mengetahui gambaran APBD untuk kegiatan PLKA di tahun berikutnya (2009).

delivery of the commodities from the seller to its buyer. In the cash schemes, the delivery of the commodities is made at the time of the transaction. In the spot scheme, the delivery of the commodities is made within a period of 1 (one) up to 7 (seven) days after the transaction, whereas in the forward scheme, the delivery of the commodities is made within a period of 7 (seven) days up to 3 (three) months after the transaction. The criteria in selecting the 5 (five) abovementioned regions is based on a number of indicators, among others, transaction volume, focus on commodities that can be encompassed under the Warehouse Receipt System, the potential to apply the cash, spot and forward trade system, realization of the transaction, communication system, availability of warehouses in the proximity of the auction markets location, support from the local government, the use of banks in the settlement of the transaction, existence of a Conformity Assessment company, along with other facilities or infrastructures that may support the development of auction markets. In addition, it is also expected that a professional auction market system which is integrated in the Warehouse Receipt System can be established. 2. Consultation Forum The organization of PLKAs in 19 (nineteen) regions are done with the funding from the De-concentration Fund of the State Revenue and Expense Budget and the Regional Revenue and Expense Budget. The De-concentration Fund from Coftra to organize Auction Market in regions was started in 2005 and granted to 8 (eight) regions, namely the Province of North Sumatra, West Java, East Java, Central Java, Riau, NTB, Bali and DKI Jakarta. The value of the De-concentration Fund granted to the PLKA Organizers have increased until the year 2006 due to a number of regions constructing auction buildings. However, since 2007 until 2008, the value of the De-concentration Fund declined in almost all Auction Market Organizers. In relation to the planning and evaluation of the PLKA De-concentration Fund, a Technical Consultation Forum on the Planning and Evaluation of the Auction Market De-concentration Fund Program was organized. The consultation forum aims to evaluate the implementation of the auction market throughout the year 2008 and seek solutions for the existing issues and to develop an overview of the Regional Revenue and Expense Budget for the PLKA activities in the year 2009.Kepala Bappebti, Deddy Saleh, menyampaikan sambutan dan arahan pada forum konsultasi pasar lelang

2. Forum Konsultasi

33

ANNUAL REPORT 2008

34

SISTEM RESI GUDANG1. PERKEMBANGAN KESIAPAN

THE WAREHOUSE RECEIPT1. PROGRESS OF THE PREPARATION ACTIVITIES

Kegiatan Sistem Resi Gudang (SRG) sudah dimulai sejak disahkannya Undang-Undang Nomor 9 Tahun 2006 tentang Sistem Resi Gudang. Di tahun 2007, program SRG diisi dengan berbagai kegiatan implementasi, antara lain pembuatan peraturan pelaksanaan, sosialisasi di daerah-daerah sentra produksi, pertemuan-pertemuan dengan pihak-pih