How does the fund distribution process work? Are there any designated partner securities to purchase US stocks? Who is the fund holder?
All client funds will be sent to Alpaca, a US stockbroker partner of PG Berjangka. Funds will be sent to Alpaca via the Indonesian Derivatives Clearing House (KBI).
The following is the transaction flow of the process of channeling funds from the user to the broker:
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Users top up on the Pluang application. Users can do a direct USD top-up or can also convert Rupiah to USD through the Pluang application.
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Then, the user's funds will be received by PT. PG Berjangka.
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The funds are then forwarded to KBI (Indonesian Futures Clearing House).
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The funds will then be received and forwarded to Alpaca Securities LLC as a registered offshore broker.
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Transactions made by users will also be recorded on the JFX (Jakarta Future Exchange).