No Additional Regulation Needed for State Bonds Transaction
Monday, 04 December, 2006 | 16:38 WIB

TEMPO Interactive, Jakarta: The Capital Market Supervisory Agency (Bapepam) said that guidelines of State Bonds transaction at market floor value is the same as Bonds of the Republic of Indonesia (ORI). In addition, said Head of Transaction, Bureau of Stock at Bapepam Arif Baharudin, the transaction of State Bonds (SUN) at market value requires no additional regulation.

“The set of regulations that Bapepam has been issued has already supported the implementation of any kind of bonds' transaction at the market,” said Arif last week in Jakarta.

Arif's explanation was related to the Head of the account of the Surabaya Stock Exchange, saying that transaction of SUN at the market will only require the approval of Bank Indonesia and Bapepam. Meanwhile, a permit from the Department of Finance has been obtained. Should all permits be obtained, the transaction of SUN at the market value can be done this December.

According to him, trade at the market was only an alternative instead of an obligation. However, trade at the market value will provide facilities such as transparency and accountability.

Meanwhile, it is possible that the transaction of SUN at the market value enables the over-the-counter facility. Over-the-counter transaction involves several institutions—mostly banks that join in the Association of State Bonds Trade.

YULIAWATI