Market players discuss to form a repo group
Tuesday, 23/02/2010 19:10:00 WIB
By: Irvin Avriano A.
JAKARTA (Bisnis.com): Several organizations of capital market participants form groups to discuss the master repurchase agreement (MRA) today in front of the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK).
Some of the organization are the Association of Indonesia Custodian Bank (ABKI), Association of Indonesian Securities Companies (APEI), Inter Dealer Market Association (Himdasun), and the Association of Mutual Fund Manager Indonesia (APRDI).
The meeting was also attended by several directors of self-regulatory organization (SRO) which is PT Kustodian Sentral Efek Indonesia (KSEI) and PT Kliring Penjaminan Efek Indonesia (KPEI). Based on observations by Bisnis.com this afternoon, the meeting that was held for the second time in the Bapepam-LK office was just ended.
When confirmed, Chairman of ABKI Susiana Suhendra, who encountered after the meeting, confirmed that the formation has been done in the meeting. However, he said, there are no significant proposals are discussed, because the capital market players still trying to form group to discuss that MRA.
"We hope the discussion [of MRA] could be completed this year," she said to Bisnis this afternoon.
However, several other player who had encountered not willing to comment because the process is still in its early stages.
MRA had a discussion on the agenda last year due to determine the legality of the shares repurchase agreement (repo) and re-repo which had accused of being one of the causes of the stock market crash in 2008.
A several players are PT HD Capital President Director Anthony Kristanto, Origination & Trust Account Mgt. Dept. Head Citibank NA Indonesia Branch Margaret M. Tang, PT Trimegah Securities Tbk Director Karman Pamurahardjo, and PT Panin Sekuritas Tbk President Director Hendrata Sadeli.
The others are KPEI President Director Hoesen dan KSEI Director Trisnadi Yulrisman.