Anjar S. CIptorukmi N


This research is entitled a Juridical Study of the procedure for
a margin trading in the Jakarta Stock Exchange conducted to obtain a framework of legal understanding of margin trading practices in the Indonesia Capital Market. Margin trading were first introduced through decision of the Chairmanof the Capital Market Supervisory Agency No. Kep 09/PM/1997 on the financing of stock transaction arrangement by corporation for customers, and was put into effect as of 1 August 1997. Before this regulation, margintrading could be conducted by any broker
and for any stock. The research question raised are what is the legal mechanismfor a margintrading in the Jakarta Stock Exchange and what is an obstacle on margintrading. This research is a libraryresearchthat adopts a normativelegal approach. Primary and secondary data were obtained from library sources and interviewswhich were then analyzed usingan interactive technique. The conclusion are a margin trading is a stock transaction whose funds partly come from financial resources provided by a corporation for its customers under a margin trading agreement. The margin trading are made through the following mechanism : Consensus a margin trading
contract and opening a margin stock account, order to sell or buy and financing from a corporation. Stocks which is bought through margin facilities are guarantee for the financing and must be registered as stock on the street. The obstacles on margin trading are about stock requirements, customer requirements, time period margin trading contract and double account.

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