Bayu is paying a working visit in the US-Commodity Futures Trading Commission (US-CFTC) and Chicago Mercantile Exchange (CME) in Chicago, the US.Jakarta (ANTARA News) - Indonesia is seeking to cooperate with the US Commodity Futures Trading Commission (US-CFTC) in developing commodity futures trading in Indonesia, Deputy Trade Minister Bayu Krisnamurthi said.
"The commodity futures trading in Indonesia is growing at a fast pace. Therefore, Bappebti (futures exchange supervisory board) as a regulator must be able to develop mutually beneficial cooperation between the government and the private sector in the way that the US-CFTC has done with CME," he said in a press statement released on Wednesday.
Bayu is paying a working visit in the US-Commodity Futures Trading Commission (US-CFTC) and Chicago Mercantile Exchange (CME) in Chicago, the US.
The visit to the US-CFTC is aimed at looking at the role played by the US commodity futures trading regulator, he said.
He said the visit is part of the efforts to develop commodity futures trading in Indonesia through the Jakarta Futures Exchange (BBJ) and the Indonesian Commodity and Derivative Exchange (BKDI).
"Given the cooperation, both BBJ and BKDI will hopefully be able to increase commodity futures trading transactions particularly related to the country`s key commodities such as coffee, crude palm oil and cacao," he said.
During the visit, both sides also discussed the need to keep futures exchange`s integrity and conduct comprehensive supervision of commodity futures trading.
"Indonesia needs to develop a comprehensive and integrated supervision system so that the Commodity Futures Trading Supervisory Board can supervise the Futures Exchange and Futures Clearing Institute efficiently," he said.(*)
Editor: Heru Purwanto
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