The Development of Option Market and The Role of Indonesia Financial Service Au-thority (OJK) In Indonesia Capital Market Period 2004-2019

Authors

  • Tinjung Desy Nursanti Bina Nusantara University

DOI:

https://doi.org/10.35384/jime.v12i1.171

Keywords:

option market, Financial Service Authority, legal aspect, capital market

Abstract

The purpose of this paper is to describe several things related to the notion of options, stock options, transaction mechanisms, applicable legislation based on the study of literature, the previous research, and various information from financial sites related to the topic mentioned above. Therefore, the research questions that needs to be answered are as follows: 1. What are the developments in options markets in Indonesia? 2. What is the role of the Financial Services Authority (OJK) in developing options trading transactions related to the legal aspect in Indonesia Stock Exchange or capital market? Meanwhile, option is basically a contract between two parties that contains the right for the option buyer to buy or sell the underlying asset of the contract at the certain time and price agreed upon at the beginning of the contract. The discussion will be emphasized on the development of derivative transactions and the role of Financial Services Authority (OJK) in increasing the number of derivative transactions in Indonesia period 2004-2019 regarding the change of legal aspect.

Downloads

Download data is not yet available.

References

Ahn, H., J., Kang, J., & Ryu, D. 2008. Informed Trading in the Index Option Market: The Case of KOSPI 200 Options. The Journal of Futures Markets, Vol. 28, No. 12, 1118–1146. DOI: 10.1002/fut.20369

Asyik, N., F. 2007. Analisa Perilaku Manajemen terhadap Penerapan Kompensasi Program Opsi Saham Eksekutif. Ekuitas Jurnal Ekonomi dan Keuangan. Vol. 11, No. 1. DOI: http://dx.doi.org/10.24034/j25485024.y2007.v11.i1.237

Basri, M., H., Syam, R., & Zaki, A. 2019. Prediksi

Harga Kontrak Opsi Asia dalam Perdagangan Pasar Saham PT. Telkom Indo-nesia dengan Menggunakan Metode Monte Carlo. S1 thesis, Universitas Negeri Makas-sar.

Chang, C. C., Hsieh, P. F., and Wang, Y, H. 2010. Information content of options trading vol-ume for future volatility: Evidence from the Taiwan options market. Journal of Banking & Finance, Volume 34, Issue 1, Pages 174-183, https://doi.org/10.1016/j.jbankfin.2009.07.015.

Hendrawan, R. 2009. Aplikasi GARCH Untuk Penentuan Premi Harga Kontrak Opsi Saham di Bursa Efek Indonesia. Jurnal Keuangan dan Perbankan Perbanas Institute. Vol. 11, No. 2. ISSN 1410-8623.

Hull, J. C. 2018. Options, Futures and Other De-rivatives. Pearson.

Irawan, W., O. Penentuan Harga Opsi dengan Model Black-Scholes Menggunakan Metode Beda Hingga Center Time Center Space. 2017. Eksakta Berkala ilmiah Bidang MIPA UNP. Vol 18 No. 02. DOI: https://doi.org/10.24036/eksakta/vol18-iss02/77

Kolkova, A. & Lenertova, L. 2016. Binary Options as a Modern Fenomenon of Financial Busi-ness. International Journal of Entrepreneuri-al Knowledge, Issue 1, Volume 4.DOI: 10.1515/ijek-2016-0004

Meliyani, R., Nugrahani, E., H., & Lesmana, D., C. 2016. Penentuan Harga Opsi Call Win-dow Reset Menggunakan Metode Binomial Tree dan Trinomial Tree. Journal of Mathematics and Its Applications. Vol. 15, No. 2. DOI: http://dx.doi.org/10.29244/jmap.15.2.23-34 ISSN: 1412-677X

Menawati, M., N., W., & Astika, I., B., P. 2017. Pengaruh Rentabilitas dan Likuiditas pada Jumlah Opsi Saham dan Dampaknya pada Nilai Perusahaan. E-Jurnal Akuntansi, [S.l.], p. 1915-1942, ISSN 2302-8556.

Naiker, V., Navissi, F., & Truong, C. 2013. Op-tions Trading and the Cost of Equity Capital. The Accounting Review, American Account-ing Association, Vol. 88, No. 1 DOI: 10.2308/accr-50275, pp. 261–295

Ni, S. X., Pan, J., & Poteshman, A. M. 2008. Vola-tility Information Trading in the Option Mar-ket. The Journal of Finance, Vol. LXIII, N0. 3.

Roll, R., Schwartz, E., & Subrahmanyam, A. 2010. O/S: The relative trading activity in options and stock. Journal of Financial Economics, p. 1-17.

Skinner, D. J. 1989. Options Market and Stock Re-turns Volatility. Journal of Financial Eco-nomics 23; 61-78.

Soegoto, E. S., & Rushamidiwinata, M. 2018. The Role of Internet in Business Strategy Using Trading Method. IOP Conf. Ser.: Mater. Sci. Eng. 407 012179. Paper. doi:10.1088/1757-899X/407/1/012179

Tandelilin, E. 2010. Portofolio dan Investasi: Teori dan Aplikasi. Penerbit Kanisius Yogyakarta.

Tirtoprojo, S. 2008. Penilaian Opsi Put-Call dan Simulasi Strategi untuk Berdagang Kontrak Opsi Saham di Bursa Efek Indonesia. S2 the-sis.

Sembiring, F., M. 2011. Kajian tentang Produk In-vestasi Derivatif. Portfolio. Vol. 8, No. 1.

(https://repository.fe.unjani.ac.id/pdf/4_KAJIAN_TENTANG_PRODUK_INVESTASI_DERIVATIF.pdf).

Vulandari, R., T. 2010. Model Black-Scholes Har-ga Opsi Beli Tipe Eropa dengan Pembagian Dividien. Skripsi. FMIPA-UNS

https://www.finansialku.com/definisi-perdagangan-opsi-adalah/

https://www.idx.co.id/produk/derivatif/

https://market.bisnis.com/read/20180530/190/800921/produk-opsi-saham-langkah-awal-bursa-siapkan-5-saham

https://market.bisnis.com/read/20190409/7/909562/ojk-siapkan-regulasi-baru-untuk-kontrak-berjangka-dan-opsi-efek

http://www.universalbroker.co.id/v2/media/downloads/9_IDX_KOS.pdf

https://www.kpei.co.id/page/kontrak-opsi-saham-kliring?__r=8d6c3c401f3c457

https://pasarmodal.inilah.com/read/detail/2519625/ojk-tata-ulang-perdagangan-kontrak-dan-opsi-efek

https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Category/66

https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Article/116

https://www.ojk.go.id/id/kanal/pasar-modal/regulasi/klasifikasi-bapepam/peraturan-lainnya/Documents/3IIIE1_1389001956.pdf

http://bestbinarytradingbrokers.com/binary-options-indonesia/

https://www.daytrading.com/

https://www.bestfxbrokers.com/binary-trading/countries/indonesia/

http://www.sec.gov/investor/alerts/binaryoptionsandfraud.pdf

https://www.pipsafe.com/wp-content/uploads/2016/04/binary-options-ebook.pdf Binary Options trading Strategies: Strategies of Pros Explained for Dummies

Downloads

Published

2020-05-05
Abstract Views: 849 | File Downloads: 637