Multilateral Commodities

There is still tremendous development potential for the commodity futures market in Indonesia — a country blessed with abundant natural resources. There has been an increasing flow of funds targeting commodities in Asia, particular Indonesia, which has made the country an important trade hub for many years.Nonetheless, there are great potentials to develop futures commodity market and increase physical transaction volume further. 

The JFX (Jakarta Futures Exchange) and ICDX (Indonesia Commodity & Derivatives Exchange) are facilitating further market development by providing a more dynamic, transparent and liquid commodities market and a multilateral trading mechanism.

Multilateral trading allows multiple market participants to buy and sell financial instruments remotely through electronic means.

Monex provides a wide range of multilateral commodities.

Through JFX:

  • Gold — Physical Holding GOL & GOL250
  • Rolling Gold Index (KIE)
  • Rolling Gold (KGE)
  • USD Based Rolling Gold (KGEUSD)
  • Olein (OLE & OLE10)

Through ICDX:

  • Gold — Physical Holding (GOLDGR)
  • Gold — Loco (GOLDUD GOLDID)
  • Palm Oil (CPOTR)
  • Olein (OLEINTR)

JFX - GOL

 

Specification

GOL

Contract Size

1 kg (1,000 grams) Gold with 99.9 finest LBMA quality

Contract Month

Current and the next 2 consecutive months with even months, such that there are always three months available.

Price

Price Quotations

Indonesian Rupiah/gms

Minimum Price Fluctuations<

Rp 50,-/gram (Tick Value : Rp 50,000,-/lot)

Daily Price Limits

Rp.5,000,-/gms above or below the previous settlement price

1. Price limits will apply to all quoted months except for the current month

2. Change of price limits can be made by the exchange without prior notice

Margin

Initial Margin

 Rp 6,000,000

Spot Margin

 Rp 9,000,000

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below 20% of Initial Margin or Spot Margin

Extra and Additional Margin

In case of additional volatility and or moving contracts from futures to spot, a special margin of such other percentage, as deemed fit by the exchange, will be imposed immediately in respect of all outstanding positions

Transaction & Delivery

Trading Hours

Western Indonesian Time, on each business day 09:30 to 17.30

Transactions Settlement

· Transaction settlement commences every day at 17:45 to 18:00

· Quotations will be made according to the settlement of that day

Exchange Futures for Physical (EFP)

Transaction in which one party buys cash market products and sells futures contracts while the opposite party sells the cash market products and buys futures contracts.

Last Trading Day

A contract month expires at 18:00 on the third business day prior to last business day of the month or, if the third business day prior to last business day of the month is a non-business day, then the preceding business day prior to the non-business day.

Notice Date

Any business day starting with the first business day to the third business day prior to last business day of the current month or, if the third business day prior to last business day of the month is a non-business day, the next business day.

Notice of Allocation

Before the 1st trading session of the first business day following the Notice Date

Last Delivery Date

Two (2) business days after the Notice Date

Contract Grade

Gold bar, as saying not less than 99.99% fineness, and bearing a serial number and identifying of a refiner approved and listed by the London Bullion Market Association (LBMA)

Delivery Points

In the registered warehouse at Jakarta, Surabaya, Bandung, Semarang, Solo, Yogyakarta, Medan, Makassar, Manado, Banjarmasin, Lampung and Denpasar, the location of submission will be held at the seller location

Deliverable Unit

1 kg

Reportable Positions

150 lots 

Position Limit

500 lots

JFX - GOL 250

JFX

Gold Futures Contract Specifications 

Specification

GOL250

Contract Size

250 gram gold with finest LBMA quality

Delivery Months

3 (three) months in a row, there are three month contracts in every trading day

Price

Price Quotations

Rupiah per gram (PPN Included)

Minimum Price Fluctuations<

Rp 50,-/gram (PPN Included) or Rp 12.500,-/lot (PPN Included)

Daily Price Limits

Rp. 5000,- per gram above or below the previous settlement price. This price limit changes will be invalid for the running contract month and the nearest contract month if the running contract month are no longer traded.

Margin

Initial Margin

 Rp                                                                                                                      2,000,000

Spot Margin

 Rp                                                                                                                      2,500,000

Call Margin

Account Equity equal 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra and Additional Margin

In case of additional volatility and or moving contracts from futures to spot, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Transaction & Delivery

Trading Hours

09.30 – 17.30

Transactions at Settle

Closing session on daily trading day will be held at 17.45 until 18.00

Sell & Buy Instruction which are inserted in JAFeTs are the settlement price of the day.

Exchange Futures for Physical (EFP)

Those who are doing transaction (buyer/seller) of gold outside stock exchange can register to the stock exchange to be traded for futures transaction for both sides

Last Trading Day

Trading day for each month contract will be expired at the closing session in three trading days before the end of the current trading contract month, if the last trading day is not at the trading days, then the previous trading day will be the last trading day. 

Notice Date

Those who have selling position at the running contract month can submit the submission notification in 3 (three) days before the end of the running trading month.

Notice of Allocation

As soon as after the closing session and the submission notification letter are delivered  

Last Delivery Date

At most of 2 (two) days after the submission notification

Contract Grade

Gold with the minimum purity quality of 99,99 % and completed by the serial number and stamp from the known gold refinery which admitted by the LBMA (can be from domestic or overseas)

Delivery Points

In the registered warehouse at Jakarta and Surabaya, the location of submission will be held at the seller location

Deliverable Unit

Gold Submission can be executed if and only if the buyer and seller have a minimum quota of 4 lots or multiples. Gold submission have to be done in separated lot, which have net weight of 1 (one) kilogram, and those weight have to be noted at the storage evidence letter.

Reportable Positions

600 lot

Position Limit

2000 lot

JFX - GU1H10

JFX

Rolling Gold (Fixed Rate) Contract Specifications

Specification

GU1H10

Distinct Characteristic

At the end of the day, all contracts still open will automatically be traded the following day 

Contract Code

GU1H10

Contract Base

Gold physical market Loco London

Contract Size

100 troy ounce (3110,35 gram)

Price Quotations

USD/Troy ounce (USD 5 per Contract)

Minimum Price Fluctuations

USD 0,05/troy ounce (USD 5 per contract)

Margin

Initial Margin

 Rp        15,000,000

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Trading

Trading Hours

Western Indonesian Time, on each business day:

- 07.00 – 04.00 (summer)

- 07.00 – 05.00 (winter)

Transaction Settlement

Transaction settlement commences everyday at 17:45 to 18:00

Quotations will be made according to the settlement of that day

Interest Rate Calculation

1. Each month the Exchange will collect the Gold Forward Rate and the USD Deposit interest rate from 7 appointed Banks.

2. From 7 figures, the extreme high and low will be extracted, while the other 5 will be calculated and weighted. The basis point (weighted average minus GOFO rates) will be used to calculate the interest rate.

3. The Clearing House will debit or credit the open position based on the interest rate.

4. The Broker is not allowed to debit or credit more than the interest rate announced by the Exchange.

Settlement Price

The Settlement Price is based on the gold physical market Loco London collected from Reuters on the end of the trading day. The transaction results will be converted into IDR using fixed rate Rp.10.000.

Price and the foreign exchange rates used will be weighted from best bid and best offer.

Last Settlement

On the closing of the day, all contracts still open at maturity are cash settled at the cash settlement rate. 

Reportable Positions

500 lot

Speculative Position Limit

1000 lot

JFX - GU1TF

1.4        GU1TF

JFX

Rolling Gold Mini Contract Specifications

Specification

GU1TF

Distinct Characteristic

At the end of the day, all contracts still open will automatically be traded the following day 

Contract Code

GU1TF

Contract Base

Gold physical market Loco London

Contract Size

10 troy ounce (311,035 gram)

Price Quotations

USD/Troy ounce (USD 5 per Contract)

Minimum Price Fluctuations

USD 0,05/troy ounce (USD 5 per contract)

MARGINS

 

Initial Margin

 US $150

Call Margin

Account Equity equal 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Trading

 

Trading Hours

Western Indonesian Time, on each business day :

- 07.00 – 04.00 (summer)

- 07.00 – 05.00 (winter)

Transactions at Settle

Transactions at settle commence everyday at 17:45 to 18:00

Quotations will be made according to the settlement of that day

Interest Rate Calculation

1. Each month the Exchange will collect the Gold Forward Rate and the IDR Deposit interest rate from 7 appointed Banks.

2. From 7 figures, the extreme high and low will be extracted, while the other 5 will be calculated and weighted. The basis point (weighted average minus GOFO rates) will be used to calculate the interest rate.

3. The Clearing House will debit or credit the open position based on the interest rate.

4. The Broker is not allowed to debit or credit more than the interest rate announced by the Exchange.

Settlement Price

The Settlement Price is based on the gold physical market Loco London collected from Reuters on the end of the trading day.

Price and the foreign exchange rates used will be weighted from best bid and best offer.

Last Settlement

On the closing of the day, all contracts still open at maturity are cash settled at the cash settlement rate. 

Reportable Positions

500 lot

Speculative Position Limit

1000 lot

JFX - KGE

1.5        KGE

JFX

Rolling Gold Contract Specifications

Specification

KGE

Distinct Characteristic

At the end of the day, all contracts still open will automatically be traded the following day 

Contract Code

KGE

Contract Base

Gold physical market Loco London

Contract Size

1 Kg ( 1,000 grams)

Price Quotations

Indonesian Rupiah/gms

Minimum Price Fluctuations

Rp 1,-/gms (Rp 1.000 per contract)

MARGINS

 

Initial Margin

 Rp 4.500.000

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Trading

 

Trading Hours

Western Indonesian Time, on each business day at 08:30 to 17:30

Transactions Settlement

Transactions settlement commences everyday at 17:45 to 18:00

Quotations will be made according to the settlement of that day

Interest Rate Calculation

1. Each month the Exchange will collect the Gold Forward Rate and the IDR Deposit interest rate from 7 appointed Banks.

2. From 7 figures, the extreme high and low will be extracted, while the other 5 will be calculated and weighted. The basis point (weighted average minus GOFO rates) will be used to calculate the interest rate.

3. The Clearing House will debit or credit the open position based on the interest rate.

4. The Broker have a free option to debit or credit their customer’s account not more than 50 basis point per annum based from the Exchange interest rate announcement.

Settlement Price

The Settlement Price is based on the gold physical market Loco London collected from Reuters on the end of the trading day. The price will be converted into IDR using foreign exchange rates from Reuters.

Price and the foreign exchange rates used will be weighted from best bid and best offer.

Last Settlement

On the closing of the day, all contracts still open at maturity are cash settled at the cash settlement rate. 

Reportable Positions

500 lot

Speculative Position Limit

1000 lot

JFX - KGEUSD

1.6        KGEUSD

JFX

Rolling Gold Contract Specifications

Specification

KGEUSD

Distinct Characteristic

At the end of the day, all contracts still open will automatically be traded the following day 

Contract Code

KGEUSD

Contract Base

Gold physical market Loco London

Contract Size

100 troy ounce (3110,35 gram)

Price Quotations

USD/Troy ounce (USD 5 per Contract)

Minimum Price Fluctuations

USD 0,05/troy ounce (USD 5 per contract)

MARGINS

 

Initial Margin

 US $1500

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Trading

 

Trading Hours

Western Indonesian Time, on each business day :

- 07.00 – 04.00 (summer)

- 07.00 – 05.00 (winter)

Transactions Settlement

Transaction settlement commences everyday at 17:45 to 18:00

Quotations will be made according to the settlement of that day

Interest Rate Calculation

1. Each month the Exchange will collect the Gold Forward Rate and the USD Deposit interest rate from 7 appointed Banks.

2. From 7 figures, the extreme high and low will be extracted, while the other 5 will be calculated and weighted. The basis point (weighted average minus GOFO rates) will be used to calculate the interest rate.

3. The Clearing House will debit or credit the open position based on the interest rate.

4. The Broker is not allowed to debit or credit more than the interest rate announced by the Exchange.

Settlement Price

The Settlement Price is based on the gold physical market Loco London collected from Reuters on the end of the trading day.

Price and the foreign exchange rates used will be weighted from best bid and best offer.

Last Settlement

On the closing of the day, all contracts still open at maturity are cash settled at the cash settlement rate. 

Reportable Positions

500 lot

Speculative Position Limit

1000 lot

JFX - KIE

KIE

BBJ

Rolling Gold Index Contract Specifications

Specification

KIE

Distinct Characteristic

At the end of the day, all contracts still open will automatically be traded the following day 

Contract Base

Index point calculated by the Settlement Price of the Gold Rolling Contract with the gold price from the physical market Loco London.

Contract Multiplier

Rp 10.000,- per index point

Price Quotations

Indonesian Rupiah/gms

Minimum Price Fluctuation

1 (one) index point (Rp 10.000 per contract)

MARGINS

 

Initial Margin

 Rp 5.000.000

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Trading

 

Trading Hours

Western Indonesian Time, on each business day at 08:30 to 17:30

Transaction Settlement

Transaction settlement commences everyday at 17:45 to 18:00

Quotations will be made according to the settlement of that day

Interest Rate

1. Each month the Exchange will announce the calculation 1month interest rate differential of the USD Deposit and IDR Deposit from 7 appointed Banks. The Exchange can change the calculation period without prior notice.

2. From 7 figures, the extreme high and low will be extracted, while the other 5 will be calculated and weighted.

3. The Clearing House will debit or credit the open position based on the interest rate. Total interest day is calculated based on value date.

4. The Broker have a free option to debit or credit their customer’s account not more than 50 basis point per annum based from the Exchange interest rate announcement.

Cash Settlement 

Cash Settlement is based on the Gold Rolling contract Settlement Price from the best bid and best offer of the Loco London retrieved from Reuters on the end of day.

Last Settlement

On the closing of the day, all contracts still open at maturity are settled at cash settlement rate.

Reportable Positions

500 lot

Speculative Position Limit

1000 lot

JFX - OLE

OLE

JFX

Olein Futures Contract Specification

Specification

OLE

Contract size

20 metric tons

Delivery Months

Current and the next 5 consecutive months, such that there are always six months available.

Price quotation

Indonesian Rupiah/kg (including VAT)

Minimum Price Fluctuation

Rp 5/kg (including VAT)

Daily Price Limits

Rp 150/kg above or below the previous settlement price.

Price limits will apply to all quoted months except for the current month

Trading Hours

Western Indonesian Time, on each business day 09:30 – 17.30

Transaction Settlement

· Transaction settlement commences everyday at 17:45 to 18:00

· Quotations will be made according to the settlement of that day

Exchange Futures for Physical (EFP)

· Transaction in which one party buys cash market products and sells futures contracts while the opposite party sells the cash market products and buys futures contracts.

· EFP permits transfer of different grades such as: Crude Palm Oil (CPO), Refined Bleached and Deodorized Palm Oil (RBDPO) and Refined Bleached and Deodorized Stearin (RBD Stearin)

· The quantity of the commodity do not have to be the same with futures contract but similar to the value of the futures contract (with a premium, discounted or multiplied by ratios)

Last Trading Day

A Contract month expires at 18:00 on the 15th of the month or if the 15th is a non-business day, the next business day

Margin

 

Initial Margin

 Rp 3.000.000

Spot Margin

 Rp 7.500.000

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra and Additional Margin

In case of additional volatility and or moving contracts from futures to spot, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Notice Date

5 (five) business days prior to the 15th of the current month or if the 15th is a non-business day, the next business day

Notice of Allocation

Before the 1st trading session of the first business day following the Notice Date

Last Delivery Date

Two (2) business days after the Notice Date

Contract Grade

Grade MARKET

Free Fatty Acids < 0,15% AOCS Method Ca 5a-40

Moisture & Impurities < 0,1% AOCS Method Ca 2b-38

AOCS Method Ca 3a-46

Iodine Value (WIJS) > 56 AOCS Method Cd 1d-92

Color Red (Lovibond 5,25Inch) < 4 Red AOCS Method Cc 13b-45

Slip Melting Point < 24 oC AOCS Method Cc 1-25

Cloud Point 10,75 oC

Delivery Points

Tank Installations approved by the Exchange at the option of the seller located in Jakarta and Surabaya and other cities appointed by the Exchange

Deliverable Unit

20 metric tons net, plus or minus not more than 2%

Reportable Positions

150 lots or more net long or net short, in all contract months combined

Speculative Position Limit

500 lots net long or net short in any one contract month or in all contract months combined

JFX - OLE10

OLE10

JFX

Olein Futures Contract Specification

Specification

OLE10

Contract Base

Olein with market standard quality

Contract Unit

10 ton (10.000 Kg)

Contract Month

6 (six) month in a row, there are six month of contract in each trading days

Trading Day & Hours

Daily Trading Hours

09.30 - 17.30

Closing Session

Closing session on daily trading day will be held at 17.45 until 18.00

Sell & Buy Instruction which are inserted in JAFeTs are the settlement price of the day.

Physical Trades with Futures

Those who are doing the transaction (buyer/seller) of Olein and other CPO derivatives outside the stock exchange can register to the stock exchange to be traded for futures transaction for both sides

Last Day Trading

Last trading day date for each month trading contract will be expired at 15th for each month of current month transaction, or if not at 15th then the last trading day date will be ended at the day after.

Price

Rupiah per kilogram (VATIncluded)

Minimum Price Changes

Rp 5,- /kg  (VAT Included)

Rp. 50.000,- per lot (VAT Included)

Limit Price Changes

Rp.200,- per kilogram above or below previous settlement price. Price Limit will not be valid of the running contract month has already expired.

Final Settlement

DO submission are registered with the standard market quality

MARGINS

 

Initial Margin

 Rp 2.750.000

Spot Margin

 Rp 4.000.000

Call Margin

Account Equity equal to 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra and Additional Margin

In case of additional volatility and or moving contracts from futures to spot, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Time Delivery Notification

5 (five) days before last trading day until 18.00. if that day date is not at 15th then the last trading day date will be the day after the last trading day of final submission.

Allocation Time Notification

As soon as after the closing session and hand over notification letter are delivered

Hand Over Time

The latest 2 (two) days at most in daily trading days after the submission notification

Quality

Standard  Market

Free Fatty Acids (FFAD  < 0,15%  AOCS Method Ca 5a-40   

Moisture & Impurities  < 0,1%    AOCS Method Ca 2b-38   

AOCS Method Ca 3a-46

Iodine Value (WIJS)   > 56   AOCS Method Cd 1d-92       

Red Colored (Lovibond 5,25 inci)  < 4 Red   AOCS Method Cc 13b-45

Slip Melt Point  < 24o C   AOCS Method Cc 1-25

Cloud Point 10,75o

Hand Over Place

DO option is at the seller with the maximum limit of 5 (five) lot per published registered DO tanks at the hand over days

Hand Over Unit

Olein Submission can be executed only if the buyer and the seller have a minimum quota of 50 lots and multiples.

Olein Submission have to be executed in separated lot, which consist of 10 ton each, and those weight have to be noted in DO.

Obligatory Position Report

300 lot

Position Limit

1.000 lot

ICDX - GOLDGR

GOLDGR

 

Gold Futures Contract Specifications

Product

GOLDGR

Description

GOLDGR MMYY

Quality Specifications

9999 Purity

Gold delivered must bear a serial number and identifying stamp of a refiner approved and listed by the Exchange. Delivery must be made from a depository licensed by the Exchange.

Specification

 

Contract Size

100 gr (1 Lot)

Tick Size

Rp. 100 per gram (Rp. 10,000 per Lot)

Trading Months

Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sept, Oct, Nov, Dec

Trading Period

Monday - Friday

Trading Hours

07:30 WIB - 04:30 WIB  (03.30 WIB - DST)

Last Trading Day

04.30 WIB (03.30 WIB - DST) on the Last Business Day of the Spot Month

Exchange Delivery Settlement Price

Settlement Price on the Last Trading Day.

Daily Price Limit

3%

Position Limit

2,000 Lots for all Contract Months Combined

1,500 Lots for any individual Contract Month

500 Lots net long or net short for the Spot Month

Margin

 

Initial Margin

 Rp 3.000.000

Spot Margin

 Rp 20.000.000

Call Margin

Account Equity equal 100% of Initial Margin or Spot Margin

Additional Margin

When moving from futures to spot month, additional margin should be added latest by 5.00 PM , 1 working day before first day of spot month

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility and or moving contracts from futures to spot, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

Delivery related information

 

Minimum Deliverable Size

1 lot (100 gr)

If the seller offer delivery of 995 Purity

The price of gold is on the basis of 9999 purity. The sale proceeds will be calculated by way of (delivery settlement price *9950/9999)

Point of Delivery

PT. Antam Tbk, UBPP Logam Mulia

Hand over cost

Rp.50.000,-

ICDX - GOLDUD

GOLDUD

 

GOLDUD Contract Specifications

Product

GOLDUD

DESCRIPTION

GOLDUD

Quality Specifications

0.9999 purity

TRADING

Contract Size

10 Troy Oz.

Tick Size

US$ 0.10 per Troy Oz (US $1.00 per Lot)

Trading Month

Current Month

Trading Days

Monday - Friday

Trading Hours

07:00 AM - 04:30AM (03:30 AM during daylight saving time)

Daily Settlement

Based on Loco London Spot Market price at the closing time

Financing Debits and Credits

Open positions are subject to Financing Debits and Credits at the end of each day:

Long Position (Debit): Contract Value x FR x 1/360 x Day Count

Short Position (Credit): Contract Value x (FR - 50bp) x 1/360 x Day Count

Note:

1. Contract Value is based on the daily settlement price

2. Financing Rate (FR) equals to London Interbank Offered Rate 1 Month less LBMA's Gold Forward Offered Rate 1 Month

Positions to be reported

1,500 lots

Position Limit

3,000 lots

MARGINS

Initial Margin

 US$ 150

Call Margin

Account Equity equal 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

SETTLEMENT RELATED INFORMATION

Quality Specifications

.9999 Purity

Settlement Method

Deferred Physical, Cash Settled

ICDX - CPOTR

CPOTR

 

Crude Palm Oil Futures Contract Specifications

Product

CPOTR

DESCRIPTION

CPOTR MMMYY

Specification

 

Price Quote

Free-on-board (FOB) prices of Crude Palm Oil (CPO) at Dumai and Belawan quoted in Indonesia Rupiah, exclusive Value Added Tax.

Contract Size

10 Metric Tons equal to 10,000 Kg (1 Lot)

Tick Size

Rp. 5 per Kilogram (Rp. 50,000 per Lot)

Trading Months

First 12 consecutive months

Trading Period

Monday - Friday

Trading Hours

09:30AM - 05:00PM Jakarta Time

Last Trading Day

5:00pm on the fifteenth (15th) calendar day of the spot contract month or if the fifteenth (15th) calendar day is not a Trading Day, then the Trading Day immediately preceding the fifteenth (15th) calendar day. All open positions shall be settled by way of Settlement-to-Market.

Settlement - to -Market

Buyers and Sellers intending delivery shall elect:  (1) Exchange-for-Physical (EFP); or (2) Alternative Delivery Procedure (ADP).Failing which, all open positions shall be cash settled against the Final Settlement Price.

Daily Settlement Price

The Daily Settlement Price for each open contract will be determined by the simple average of FOB prices (omitting the highest and lowest prices) of each respective contract month, and market fundamentals.

Final Settlement Price

The Final Settlement Price shall be based on the Last Trading Day as Daily Settlement Price.

Daily Price Limit

+/-10% from previous Daily Settlement Price with 15 minutes Cooling Off Period to be followed with an expanded maximum limit of 15% above or below the settlement prices of the previous Daily Settlement Price of the relevant contract month.

Position Limit

8,000 lots for all Contract Months Combined.

5,000 lots for any individual Contract Month.

500 lots net long or net short for the spot month

MARGINS

 

Initial Margin

 Rp 10.000.000

Spot Margin ***

 Rp 35.000.000

Call Margin

Client is obliged to maintain margin levels of  > 100%

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin

Automatic  closure of positions is done in the event that margin does not suffice

Auto Cut of positions is done directly by associated broker and at the price that is currently being traded at the exchange

Client is fully responsible for the outcome of any position that is automatically closed

Extra Margin

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all open positions.

Minimum Deliverable Unit

1 lots (10 Metric Tons)

Point of Delivery

1.       Franco Dumai (including Pelintung & Lubuh Gaung), Indonesia

2.       Franco Belawan , Indonesia

Hand over cost

Rp.50.000,-

ICDX - GOLDID

GOLDID

 

GOLDID Contract Specifications

SYMBOL

GOLDID

DESCRIPTION

GOLDID

Quality Specifications

0.9999 purity

TRADING

 

Contract Size

10 Troy Oz.

Tick Size*

US$ 0.10 per Troy Oz (US $1.00 per Lot)

Trading Month

Current Month

Trading Days

Monday - Friday

Trading Hours

07:00 AM - 04:30AM (03:30 AM during daylight saving time)

Daily Settlement

Based on Loco London Spot Market price at the closing time

Financing Debits and Credits*

Open positions are subject to Financing Debits and Credits at the end of each day:

Long Position (Debit): Contract Value x FR x 1/360 x Day Count

Short Position (Credit): Contract Value x (FR - 50bp) x 1/360 x Day Count

Note:

1. Contract Value is based on the daily settlement price

2. Financing Rate (FR) equals to London Interbank Offered Rate 1 Month less LBMA's Gold Forward Offered Rate 1 Month

Positions to be reported

1,500 lots

Position Limit

3,000 lots

Margin

Initial Margin*

 Rp 1.500.000

Call Margin

Account Equity equal 100% of Initial Margin or Spot Margin

Auto Cut Position

Account Equity equal or below than 20% of Initial Margin or Spot Margin

Extra Margin*

In case of additional volatility, a special margin of such other percentage, as deemed fit by the Exchange, will be imposed immediately in respect of all outstanding positions

SETTLEMENT RELATED INFORMATION

Quality Specifications

.9999 Purity

Settlement Method*

Deferred Physical, Cash Settled

Conversion rate

                       US $1 = Rp. 10,000

Fixed Indonesian Rupiah (IDR) Rate Conversion