Haircut Committee
Based on Indonesia FSA Regulation No. 52/POJK.04/2020 regarding Net Adjusted Working Capital Maintenance and Reporting, IDClear is required to establish a haircut committee to determine the Haircut rate for any Equity Securities or Asset-Backed Securities with Varying Cash Flow listed on the Indonesia Stock Exchange and any Mutual Funds with Participation Units Traded on the Stock Exchange. The haircut will function as a reduction of the securities fair market value to be accounted for in the Net Adjusted Working Capital (NAWC) and Exchange Member’s collateral.
Haircut Committee membership consists of 11 (eleven) members, with one (1) person with specified requirements serves as both coordinator and member. Haircut committee members composition consist of 5 SRO representatives with Director position, 5 Clearing Member representatives with Director position, and 1 representative who is a professional/practitioner competent in performing the assessment.
Duties and Responsibilities of the Haircut Committee:
1. Establish criteria and model (formula) to determine Haircut of the Haircut of Equity Securities or Asset-Backed Securities with Varying Cash Flow listed and will be listed on the Indonesia Stock Exchange and the Mutual Funds whose Participation Units are traded on the Stock Exchange.
2. Determine the Haircut for Equity Securities or Asset-Backed Securities with Varying Cash Flow listed and will be listed on the Indonesia Stock Exchange and the Mutual Fund whose Participation Units are traded on the Stock Exchange;
3. Publish the securities haircut values referred in item 2) on IDClear website no later than 1 (one) trading days prior to effective implementation.
4. Announcement to the Haircut value for Equity Securities or Asset-Backed Securities with Varying Cash Flow and Mutual Funds whose Participation Units are traded on the Stock Exchange which will be listed on the Indonesia Stock Exchange on IDClear website, not later than 1 (one ) trading days prior to be listed on the Stock Exchange in Indonesia.
Members of IDClear Haircut Committee :
| No | Name | Company |
| 1 | Kristian S. Manullang | PT Bursa Efek Indonesia |
| 2 | Irvan Susandy | PT Bursa Efek Indonesia |
| 3 | Antonius Herman Azwar | PT Kliring Penjaminan Efek Indonesia |
| 4 | Umi Kulsum | PT Kliring Penjaminan Efek Indonesia |
| 5 | Eqy Essiqy | PT Kustodian Sentral Efek Indonesia |
| 6 | Betty Goenawan | PT OCBC Sekuritas Indonesia |
| 7 | Philmon Samuel Tanuri | PT Trimegah Sekuritas Indonesia Tbk. |
| 8 | Alex Widi Kristiono | PT Mandiri Sekuritas |
| 9 | Wientoro Prasetyo | PT Lotus Andalan Sekuritas |
| 10 | Changkun Shin | PT Kiwoom Sekuritas Indonesia |
| 11 | Marsangap P. Tamba | Profesional/Praktisi |