PT Quantum Futures - Index Futures

Index Futures

TRADED PRODUCTS :

1. Nikkei 225 Futures (Tokyo Stock Exchange)
2. Hang Seng 33 Futures (Hongkong Stock Exchange)
3. KOSPI 200 Futures (South Korea Stock Exchange)

Nikkei, Hang Seng and KOSPI indexes are the most popular indexes amongst world investors. They equal the Dow Jones and Nasdaq indexes in Wall Street – New York, United States

STOCK INDEX UNDERSTANDING

Stock index is a market indicator that records the average change in parts or whole price of a common stock, which are being transacted in a stock exchange.

In Indonesia, what is known as Indeks Harga Saham Gabungan or IHSG (price index of combined stocks), is the index that records the average price change of the whole stocks that are being transacted in the Jakarta Stock Exchange.

In Japan, what is known as Nikkei Index 225 (N225), is the index that records the average price change of the 225 blue chips stocks in Tokyo Stock Exchange.

In Hong Kong we have Hang Seng Index 33 (HSI33), which is the selected index of 33 blue chips stocks that are being traded in Hong Kong Stock Exchange.

STOCK INDEX	STOCK EXCHANGE	COUNTRY
IHSG	Bursa Efek Jakarta	Indonesia
LQ45	Bursa Efek Surabaya	Indonesia
NIKKEI	Tokyo Stock Exchange	Jepang
HANG SENG	Hongkong Stock Exchange	Hongkong
KOSPI	Seoul Stock Exchange	Korea
KLSE	Bursa Malaysia	Malaysia
DOW JONES	New York Stock Exchange	Amerika Serikat
NASDAQ	New York Stock Exchange	Amerika Serikat
FTSE100	London Stock Exchange	Inggris
XETRADAX	Frankfurt Stock Exchange	Jerman

DIFFERENTIATION BETWEEN STOCK INDEX AND STOCK MARKET

DESCRIPTION	STOCK INDEX	STOCK MARKET
Capital needed	3% - 10%	100%
Leverage Level	High	Low
Transaction's place	Future=trading	Stock Exchange
Transaction's starting position	Sell and buy	Only buy
Transaction's flexibility	At any given moment	Not at any given moment
Liquidity of fund	At any given moment before the clearing bell rings	T +4 s/d T +6
End of contract	Yes	No

NIKKEI INDEX CONTRACT DETAILING

Contract Size                : Rp. 30.000 per points
Contract months            : March, June, September and December
Transaction Day             : Monday to Friday
Terakhir                         : The contract time ends one day before the last working day of the contract month
Transaction Hours (wib) : Sesi I : 06.45 - 09.15
                                      : Sesi II : 10.15 - 13.30
Prices Fluctuation        : 5 poin indeks
Margin                            : Day Trade Rp. 5.000.000/ Lot
                                      : Overnight Rp. 10.000.000/ Lot
Commision                    : Rp. 300.000/ Lot

HANGSENG INDEX CONTRACT DETAILING

Contract Size                : Rp. 50.000 per points
Contract months            : Ongoing months
Transaction Day             : Monday to Friday
Terakhir                         : The contract time ends one day before the last working day of the contract month
Transaction Hours (wib) : Sesi I : 08.45 - 11.30
                                      : Sesi II : 13.30 - 13.30
Prices Fluctuation        : 5 poin indeks
Margin                            : Day Trade Rp.6000.000/ Lot
                                      : Overnight Rp. 15.000.000/ Lot
Commision                    : Rp. 300.000/ Lot

NIKKEI INDEX ILLUSTRATION

On December 10, 2007 an investor did an open buy transaction position for Nikkei Index 225 Futures for the March contract month, by doing an open sell position 2 lot(s) contract at the 17.200 price point. At the very same day the Nikkei Index went down to the level of 17.000 price point, making the investor to then close the transaction position by doing the close buy position.
Gross loss/profit

= (selling price - buying price) x contract size x no. of lots

Nett profit
= gross profit – (commission x no. of lots)

Nett loss
= gross loss – (commission x no. of lots)

Profit/loss calculation:

Gross loss/profit
= (17.200 – 17.000) x IDR 30.000 x 2 lots
= IDR 12.000.000

Nett loss/profit
= (IDR 12.000.000) – (IDR 300.000 x 2 lots)
= (IDR 12.000.000) – IDR 600.000
IDR 11.400.000

Based on calculation above, with one transaction which made a 200 points profit, the investor has gained a nett profit of IDR 12.000.000,-

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Newsflash

NEW YORK, Dec 18 (Reuters) - Rates banks charge each other for U.S. dollar-denominated funds slid to fresh 4-1/2 year lows on Thursday in the wake of the U.S. Federal Reserve's move this week to keep interest rates at rockbottom levels for a sustained period.

The Fed's dramatic measure that sent its target rate to a record low range of zero to 0.25 percent has helped to unlock credits for cash-strapped borrowers, but it has not been the immediate jolt that some traders had hoped.