Organization

As is normal under Indonesian Law, the Exchange will be managed using a two-board system: a board of supervisory directors (Board of Commissioners) and a board of executive directors (Board of Directors).

In addition to this normal provision the Commodity Futures Trading Act 1997 provides that at least one of the Commissioners represents the public at large (not the shareholders) and all the executive directors be full time professionals. They must all pass the Fit and Proper Test conducted by The Commodity Futures Trading Supervisory Board (CFTSB) (Bappebti). Day to day management is carried out by the executive directors by each supervising two of the six Divisions.

Board of Commissioners (as of February 2009)

President : Arifin Lumbangaol
Member : Hassan Widjaja

Board of Directors (as of February 2009)

President : Hasan Zein Mahmud (Former President Director The Jakarta Stock Exchange)
Director : Edi Susmadi

Membership Structure Of Jakarta Futures Exchange

Members of the Jakarta Futures Exchange consist of 4 categories:

1. Trader Member, is a member registered by the Commodity Futures Trading Regulatory Agency (CoFTRA), which is divided into:

• Corporate Trader, which can only trade on its own and/or its related business group account.A Corporate Trader Member must own at least 1 (one) seat.
• Individual Trader, who can only trade on his/her own account.
  Individual Trader needs to own seat or lease minimum one seat.

2. Broker Member, is a corporate member issued a license by the Commodity Futures Trading Regulatory Agency (CoFTRA). A Broker Member can accept orders for execution from their clients. In addition they must own at least 1(one) seat.
3. A party in the application process of becoming a Broker or a Trader.
4. Founding Shareholders with no license or not registered as Broker or Trader, as defined under Article 12 (2) Act Number 32 Year 1997.

Members of the Exchange need not be shareholders of the Exchange. The General Meeting of Shareholders have the right to appoint the Board of Commissioners and the Board of Directors. The shareholders are automatically members of the Exchange.

Members do not automatically have access to the Exchange Trading System. To have access to the Exchange Trading Engine, members must buy Seats which Perpetual Bonds are issued by the Exchange with no nominal value nor coupons. Beneficial ownership (through purchase or lease) of a Seat entitles the member access to the Exchange Trading Engine.

Seats may be purchased from the Exchange or from Members wishing to sell in the secondary market, subject to the approval and in accordance with the Rules & Regulations of the Exchange. The transaction of Seats in the secondary market is through a system by matching the bid and offer prices of Seats. This matching system has to be conducted by the Exchange.

The sale and purchase or leasing of Seats is also subject to the approval of the Exchange and should be in accordance with its Rules and Regulations.