The training programme and licensing examination were developed by the SIDC at the request of the Commodity and Futures Trading Supervisory Board of Indonesia (Bappebti). Bappebti is a regulatory body established in August 1999 under Indonesia's Ministry of Industry and Trade.
Under the Commodity Futures Trading Law of Indonesia, an individual needs to obtain permission/licence from Bappebti before he/she is able to trade with a third party, whether as an Agent, Trading Adviser or Commodity Pool Operator.
The training programme, which was aimed at providing basic knowledge of futures trading, began with an introductory note on the development of futures market, advantages and requisites of futures market, futures and options contract, comparison of futures, equities and forwards and was followed by the definition of types and importance of basis in trading decision. Trading procedures and institutional aspects of CPO futures trading was outlined and was concluded with a brief review of futures forecasting. At the end of the programme, participants were required to sit through an examination, specially prepared by SIDC for Bappebti, in order to obtain the licence.
Both the training programme and licensing examination were conducted by the SIDC as part of a three-day intensive course that was organised with the cooperation of academics from Universiti Putra Malaysia (UPM) and the Malaysian Futures Brokers Association (MFBA). The programme was conducted from 29 to 31 May 2000 at the Indonesian Export Training Centre (IETC) in Jakarta and was attended by 50 participants.
The programme was well received by both its participants and officers of Bappebti.