Indonesia Aims to Issue Rules on Commodity Exchange by End-November

REGULATION - JAKARTA. Indonesia's Financial Services Authority plans to issue two new regulations by the end of November for a new commodity exchange set to be launched in January next year, a senior official said on Tuesday.

Indonesia's new commodity bourse aims to improve transparency and allow greater control over exports of commodities such as coal, nickel and palm oil, of which it is the world's largest exporter.

 

Trading is expected to start January 4.

 

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Four rules are being drafted, to regulate organisational matters of the bourse, its management and products to be traded, among others, said Henry Rialdi, deputy commissioner of the Financial Services Authority.

 

Two of the regulations are expected to be issued before the end of November, he told Reuters during an industry conference, adding that he was optimistic the timeline on the new bourse would be met.

 

Discussions were underway with the government and sovereign wealth fund Danantara on who will operate the exchange, Henry added.