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Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia

Teguh Firmansyah(1email), Sang Ayu Putu Rahayu(2)


(1) Faculty of Law, Universitas Negeri Semarang, Semarang, Indonesia
(2) Faculty of Law, Universitas Negeri Semarang, Semarang, Indonesia orcid
email Corresponding Author
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Abstract


Introduction: Interest in investment in Indonesia has experienced a significant increase in recent years. This trend is driven by technological advancements that facilitate access to various investment platforms, such as digital-based applications and investment e-commerce. However, not all individuals possess adequate understanding of investment risks and potential, which may lead to suboptimal decision-making.

Purposes of the Research: The study aims to analyze the multilayered regulatory structure established to ensure market stability, investor protection, and alignment with national economic objectives, as well as to identify the role of key regulatory institutions within the derivative market ecosystem, particularly in relation to Contract for Difference (CFD).

Methods of the Research: The study utilizes a normative legal analysis methodology, examining primary legal sources, including laws, government regulations, and directives from regulatory institutions.

Results Main Findings of the Research: Indonesia's derivatives trading is governed by a multi-layered regulatory framework to ensure market transparency, security, and stability. The primary legal basis is Law No. 32 of 1997 on Commodity Futures Trading, amended by Law Number 10 of 2011, which establishes BAPPEBTI as the main regulator. Government Regulation Number 9 of 1999 sets operational guidelines, while BAPPEBTI Regulation No. 109/Bappebti/PER/01/2014 and No. 5 of 2017 regulate alternative trading systems, including CFD.


Keywords


Contract For Difference; Derivative Transactions; Investmenst.


DOI


10.47268/pamali.v5i2.3108

Published


2025-07-31

How To Cite


APA: Firmansyah, T., & Rahayu, S.A. (2025). Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia. PAMALI: Pattimura Magister Law Review, 5(2), 274-286. DOI: https://doi.org/10.47268/pamali.v5i2.3108.
IEEE: T. Firmansyah, and S.A. Rahayu, "Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia", Pamali Pattimura Magister Law Rev., vol. 5, no. 2, pp. 274-286, Jul. 2025. Accessed on: Aug. 10, 2025. [Online]. Available DOI: https://doi.org/10.47268/pamali.v5i2.3108
Harvard: Firmansyah, T., and Rahayu, S.A., (2025). "Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia". PAMALI: Pattimura Magister Law Review, Volume 5(2), pp. 274-286. [Online]. Available DOI: https://doi.org/10.47268/pamali.v5i2.3108 (Accessed on: 10 August 2025)
Chicago: Firmansyah, Teguh, and Sang Ayu Putu Rahayu. "Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia." PAMALI: Pattimura Magister Law Review 5, no. 2 (July 31, 2025): 274-286. Accessed August 10, 2025. doi:10.47268/pamali.v5i2.3108
Vancouver: Firmansyah T, Rahayu SA. Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia. Pamali Pattimura Magister Law Rev. [Internet]. 2025 Jul 31 [cited 2025 Aug 10];5(2):274-286. Available from: https://doi.org/10.47268/pamali.v5i2.3108
MLA 8th: Firmansyah, Teguh, and Sang Ayu Putu Rahayu. "Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia." PAMALI: Pattimura Magister Law Review, vol. 5, no. 2, 31 Jul. 2025, pp. 274-286, doi:10.47268/pamali.v5i2.3108. Accessed 10 Aug. 2025.
BibTeX: 
@article{pamali3108,
		author = {Teguh Firmansyah and Sang Rahayu},
		title = {Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia},
		journal = {PAMALI: Pattimura Magister Law Review},
		volume = {5},
		number = {2},
		year = {2025},
		keywords = {Contract For Difference; Derivative Transactions; Investmenst.},
		abstract = {Introduction: Interest in investment in Indonesia has experienced a significant increase in recent years. This trend is driven by technological advancements that facilitate access to various investment platforms, such as digital-based applications and investment e-commerce. However, not all individuals possess adequate understanding of investment risks and potential, which may lead to suboptimal decision-making.Purposes of the Research: The study aims to analyze the multilayered regulatory structure established to ensure market stability, investor protection, and alignment with national economic objectives, as well as to identify the role of key regulatory institutions within the derivative market ecosystem, particularly in relation to Contract for Difference (CFD).Methods of the Research: The study utilizes a normative legal analysis methodology, examining primary legal sources, including laws, government regulations, and directives from regulatory institutions.Results Main Findings of the Research: Indonesia's derivatives trading is governed by a multi-layered regulatory framework to ensure market transparency, security, and stability. The primary legal basis is Law No. 32 of 1997 on Commodity Futures Trading, amended by Law Number 10 of 2011, which establishes BAPPEBTI as the main regulator. Government Regulation Number 9 of 1999 sets operational guidelines, while BAPPEBTI Regulation No. 109/Bappebti/PER/01/2014 and No. 5 of 2017 regulate alternative trading systems, including CFD.},
				issn = {2775-5649},		pages = {274--286}			doi = {10.47268/pamali.v5i2.3108},
				url = {https://fhukum.unpatti.ac.id/jurnal/pamali/article/view/3108}
		}
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Dublin Core PKP Metadata Items Metadata for this Document
 
1. Title Title of document Legal Certainty of Contract for Difference Derivative Transactions in the Alternative Trading System in Indonesia
 
2. Creator Author's name, affiliation, country Teguh Firmansyah; Faculty of Law, Universitas Negeri Semarang, Semarang; Indonesia
 
2. Creator Author's name, affiliation, country Sang Ayu Putu Rahayu; Faculty of Law, Universitas Negeri Semarang, Semarang; Indonesia orcid
 
3. Subject Discipline(s)
 
3. Subject Keyword(s) Contract For Difference; Derivative Transactions; Investmenst.
 
4. Description Abstract Introduction: Interest in investment in Indonesia has experienced a significant increase in recent years. This trend is driven by technological advancements that facilitate access to various investment platforms, such as digital-based applications and investment e-commerce. However, not all individuals possess adequate understanding of investment risks and potential, which may lead to suboptimal decision-making.Purposes of the Research: The study aims to analyze the multilayered regulatory structure established to ensure market stability, investor protection, and alignment with national economic objectives, as well as to identify the role of key regulatory institutions within the derivative market ecosystem, particularly in relation to Contract for Difference (CFD).Methods of the Research: The study utilizes a normative legal analysis methodology, examining primary legal sources, including laws, government regulations, and directives from regulatory institutions.Results Main Findings of the Research: Indonesia's derivatives trading is governed by a multi-layered regulatory framework to ensure market transparency, security, and stability. The primary legal basis is Law No. 32 of 1997 on Commodity Futures Trading, amended by Law Number 10 of 2011, which establishes BAPPEBTI as the main regulator. Government Regulation Number 9 of 1999 sets operational guidelines, while BAPPEBTI Regulation No. 109/Bappebti/PER/01/2014 and No. 5 of 2017 regulate alternative trading systems, including CFD.
 
5. Publisher Organizing agency, location Postgraduate Program in Law, Pattimura University
 
6. Contributor Sponsor(s)
 
7. Date (YYYY-MM-DD) 2025-07-31
 
8. Type Status & genre Peer-reviewed Article
 
8. Type Type
 
9. Format File format PDF
 
10. Identifier Uniform Resource Identifier https://fhukum.unpatti.ac.id/jurnal/pamali/article/view/3108
 
10. Identifier Digital Object Identifier 10.47268/pamali.v5i2.3108
 
11. Source Title; vol., no. (year) PAMALI: Pattimura Magister Law Review; Vol 5, No 2 (2025): JULY
 
12. Language English=en en
 
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