Compliance and Legal Standing
This market runs entirely inside the Warehouse Receipt System regime. The marketplace adds one function that does not yet exist — price discovery and buyer access — without replacing any function already in operation.
Legal basis
Law Number 9 of 2006 on the Warehouse Receipt System, as amended by Law Number 9 of 2011.
The implementing regulations beneath it concerning the Registration Center, Warehouse Operators, Conformity Assessment Bodies, and the Warehouse Receipt Guarantee Agency.
Bappebti Regulation Number 7 of 2018 on Approval of Commodity Auction Market Operators, and Bappebti Regulation Number 3 of 2021 on Technical Provisions for Commodity Auction Markets with Immediate Delivery.
What is traded on the marketplace is a Warehouse Receipt valid under the law — not a new instrument, not a derivative product, and not a digital asset. Transfer of title remains subject to recording at the Registration Center.
System boundaries
To avoid overlapping authority and to preserve data integrity, the following boundaries are fixed explicitly.
| Function | Sits with | Note |
|---|---|---|
| Source of truth for receipt data | Registration Center (KBI) | The marketplace only reads; it holds no copy that stands as proof |
| Receipt issuance | Licensed Warehouse Operator | Unchanged |
| Physical possession of the commodity | Warehouse Operator | The marketplace never takes custody |
| Settlement of funds | Clearing institution or holding bank | Funds never pass through a marketplace account |
| Recording the right per kilogram | Marketplace ledger | The Warehouse Receipt stays registered to PT Super System Technology at the Registration Center; transfers of the right per kilogram are recorded on the ledger, open to KBI and Bappebti |
| Price discovery and buyer access | Marketplace | The new function being added |
| User verification | Marketplace | Subject to agreement |
| Supervision | Bappebti | Including full access rights over marketplace transaction data |
Roles and responsibilities
How the roles are divided among the parties in the interconnection scheme.
| Party | Role | Principal responsibility |
|---|---|---|
| Bappebti | Supervisor and guide | Setting the compliance framework, approving the scheme, ongoing supervision, resolving cross-party issues |
| PT Kliring Berjangka Indonesia | Registration Center and settlement | Recording receipts and transfers of title, providing the data interface, settling transactions, data integrity |
| PT BGR Logistik Indonesia | Warehouse Operator | Receiving, storing, and safeguarding commodities; issuing receipts; serving redemptions |
| PT Super System Technology | Marketplace operator and receipt holder | Building and running the platform, verifying users, matching supply and demand, recording the right per kilogram, instructing the release of goods |
Current scope
The market runs on the commodities and warehouses connected so far, at controlled volume, under Bappebti's guidance and supervision, and widens in stages.
The licensing standing of the marketplace is one of the matters on which Bappebti's direction is sought.