Indra Kenz Case; Bappebti to Draft Policy on Trading Robot
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24 March 2022 22:07 WIB
TEMPO.CO, Jakarta - The Commodity Futures Trading Regulatory Agency (Bappebti) is reviewing policies to regulate trading robot operations. The agency head Indrasari Wisnu Wardhana said such an investment instrument has so far had no legal basis so the game went wild in Indonesia.
“It’s indeed true that regulations are always slower [to exist] than technological developments,” said Wisnu in a hearing with the House of Representatives (DPR), Thursday, March 24, at the Senayan Parliament Complex.
A trading robot is a term for a system that automates trading decisions. It works by using a certain algorithm to determine transactions whether to buy or sell.
Wisnu said a trading robot that operates properly will not be tied to a sole broker. “If it is tied to one broker, it is definitely not a good one,” said Wisnu, adding that such a system does not have the term of a rental robot.
He thus mentioned investment platforms dubbed Fahrenheit, Quotex, Viral Blast, and DNA Pro which had been declared as illegal investment platforms. Although using the term trading robot, they did not apply a trading scheme that is in accordance with legal market mechanisms.
The police have named Indra Kesuma alias Indra Kenz and Doni Salmanan, big affiliates for Binomo and Quotex suspects in alleged investment fraud cases. Recently, the police arrested Hendry Susanto, owner of Fahrenheit trading app, over a similar case.
Read: Police Launch Hotline for Trading Robot, Binary Options Case
FRANCISCA CHRISTY ROSANA
