-min.jpg)
Trade in ACM
ACM stands as a distinctive platform linking domestic and international participants in the Indonesian commodity market, aiming to enhance trading opportunities globally and locally through innovative products and distribution strategies. Committed to transparency and integrity, we empower participants to trade confidently and efficiently within our ecosystem. In our trading system, two key players, Traders, and Brokers, engage in independent buying or selling and operate under Third Party mandates in the ACM Auction Market, respectively. The Electronic Trading System (ETS) serves as the central component, facilitating direct transactions, with strict adherence to terms ensuring its smooth functioning. From setting prices to settling obligations, our procedures emphasize transparency and efficiency in ACM's trading landscape.
Type of Memberships
Trader: A Trader within ACM may represent various entities, including individuals, corporations, or legal entities such as farmers/producers, agriculture groups/businesses, cooperatives, manufacturers, industries, supermarkets, exporters, and other business types. The Trader assumes the role of a seller or buyer, conducting transactions within the ACM platform on behalf of itself.
Broker: For membership as a Broker, the entity must be a Limited Liability Company meeting specific conditions. Acting under the mandate of a Third Party, the Broker facilitates transactions in the ACM Auction Market. The Third Party, exclusively acting as a buyer, provides a mandate to the Broker. The Broker is obligated to comprehensively assess the Third Party's background, financial situation, and knowledge of commodity trading. Furthermore, the Broker must adhere to approved formats and content for trading rules and mandate agreements, as specified by ACM and acknowledged by BAPPEBTI. The guidelines for these agreements are outlined in a Circular Letter, regulating the format and content of the trading rules and mandate agreement with the Third Party.
Trade System in ACM
ACM employs an Electronic Trading System (ETS), an internet-based electronic device designed for commodity trading with an auction mechanism. This system is integral to conducting commodity trading within the ACM Auction Market. Members, both Traders and Brokers, are granted access to the ETS through a provided username and password, enabling them to engage in direct transactions. In the event of ETS failure, ACM ensures the availability of an alternative system for trading purposes. The access and utilization of ETS are contingent upon adherence to terms and conditions stipulated by ACM.
The terms and conditions for the usage of ETS encompass several key points. Firstly, each Member is required to fulfill their administrative and financial obligations. Additionally, Members must not be under any sanctions imposed by ACM. Ensuring the security of the system provided by ACM is another essential obligation for each Member. Furthermore, Members are expected to possess an understanding of and adhere to ETS regulations, encompassing technical, operational, information technology, security, risk management, and other relevant aspects outlined by ACM. These conditions collectively contribute to the smooth and secure functioning of the Electronic Trading System within the ACM Auction Market.
Auction Day
Auction day is held from Monday through Friday, unless otherwise specified by ACM in the calendar of trading Auction Days and national holidays.
Trading Hours
Trading Hours of Auction Day are divided into: Session I, which begins at 10.30 am - 11.00 am; and Session II, which begins at 14.30 pm - 15.00 pm, based on Western Indonesian Time (GMT + 7). Trading Hours can be adjusted according to the needs of the participants' market and reported by ACM to BAPPEBTI for approval.
Trade Procedures
Traders and Brokers, acting as members, receive a Member Account along with a username and password from ACM, enabling them to conduct transactions through the Electronic Trading System (ETS). With these credentials, they can proceed with transactions, and the corresponding Transaction Guarantee is placed in the Asia Commodity Clearing House (ACCH). The ETS employs an algorithm to automatically match winners and determine Auction Prices. The Basic Price of the Contract Specification Auction is initially established through self-calculation prices provided by sellers. Auction prices are further determined by assessing cumulative bids and offers, with matching occurring between equivalent lots. Unmatched lots play a crucial role in final price determination.
The ETS then allocates transactions among winners in a round-robin fashion, and winners are required to settle financial obligations or provide necessary documents for transaction completion. The sale and purchase agreement must align with auction results regarding volume, quality, and price. The winners of buy auctions settle financial obligations, while the winners of sell auctions must submit necessary documents, including a power of attorney for the transfer of rights, Certificate of Origin (COO), Certificate of Analysis (COA), Invoice, Packing List, and Document of Shipment, to ACCH. Both winners of buy and sell auctions sign a sale and purchase agreement, ensuring that the agreement's contents match the auction results in terms of volume, quality, and price. This comprehensive process outlines the steps involved in conducting transactions through ACM's ETS, ensuring transparency and adherence to predetermined auction outcomes.
