TINJAUAN YURIDIS PERAN PT KLIRING PENJAMINAN EFEK INDONESIA SEBAGAI CENTRAL COUNTER PARTY UNTUK TRANSAKSI DERIVATIF SUKU BUNGA DAN NILAI TUKAR OVER THE COUNTER
| Main Author: | Wijaya, Yofi Satriya |
|---|---|
| Format: | Book application/pdf Journal |
| Terbitan: |
UI Scholars Hub
, 2021
|
| Subjects: | |
| Online Access: |
https://scholarhub.ui.ac.id/dharmasisya/vol1/iss3/37 https://scholarhub.ui.ac.id/cgi/viewcontent.cgi?article=1119&context=dharmasisya |
Daftar Isi:
- The role of the Central Counter Party (CCP) in financial transactions, especially in the derivatives market, is the concern and commitment of G20 member countries including Indonesia to be implemented due to the global crisis in 2008-2010. Derivatives have an important role as an alternative investment and funding as well as hedging for investors against the risk of changes in the price of financial assets that can’t be predicted so that puts investors in a loss position. However, derivatives can also have a negative impact if the implementation is done improperly so that it has an impact on financial stability and investor losses. The establishment of a derivative CCP was implemented by Bank Indonesia by issuing a regulation in 2019 governing the CCP for Interest and Exchange Rate Derivative Transactions (CCP SBNT). The establishment of the SBNT CCP within the scope of the financial market has its own challenges, both in terms of funding and the provision of adequate human resources, so that one of the options that might be explored in establishing the SBNT CCP is to use financial market infrastructure that is currently available, such as PT Kliring Penjaminan Efek Indoensia (PT KPEI) where the duties and functions of PT KPEI based on capital market law are as CCP in the capital market. The author analyzes with the normative juridical method related to problems in the underlying legal aspects and the accompanying impacts if PT KPEI as the CCP SBNT by using a cross-sectoral legal perspective, namely the capital market and money market. This research is expected to find a legal basis that forms the legal umbrella for PT KPEI as the CCN SBNT and an ideal formulation to be carried out harmoniously with the main role of PT KPEI as CCP in the capital market. Keywords: Derivatives, G20 Member Commitments, Central Counter Party, Capital Market, Money Market.