Do we want to develop is in a narrow alley street peddlers or a supermarket? The “bombastic” question can be made into an early analogy when we looked at the future of futures trading industry in Indonesia, while formulating the plan of industrial strategy.
Chicken porridge seller at the mouth of one of the alleys in Jalan Sabang, where I often enjoy breakfast in the morning, countless highly liquid market in its class. Only among those who came of course only those who stop by his workplace in the vicinity, the people who love chicken porridge and are not disturbed sense of “dignity” when caught breakfast on the sidewalk.
A supermarket is prepared to cross-segment visitors. In layman’s eyes only we could imagine that the products sold must be diverse, extensive shopping area, the access should be easy, smooth service, adequate parking space, the technology must be advanced, and other requirements. The fulfillment of the requirements, it can not be partial. Space is vast and sophisticated technology is not much useful if a limited variety of products sold. Customer service will be stuck if the technology does not support. One marketing technique is mostly done by a supermarket is a loss leader, which is selling the goods at ridiculously low prices, if necessary, to lose the hope that crowded visitors will buy other products.
A futures exchange, in my opinion, will gave the optimum benefits when it is designed to become a financial supermarket. There are many arguments that support the opinion above. First, each business unit to face a complex maze of price risk. A manufacturing company, for example, to confront the risk of (rising) price of raw materials and auxiliary materials, the risk (falling) price of finished goods, the risk of exchange rate fluctuations and risks (rising) interest rates. Certainly it would be more comfortable doing than hedging in a stock exchange must be done simultaneously in the various exchanges. More comfortable shopping in a supermarket needs rather than shopping at the grocery store ten different.
Second, liquidity is a function of the trading population. Access into a market depends entirely on the sophistication of the technology. No matter how delicious the chicken porridge that peddled by wagon in a narrow alley, it would not be able to attract a massive visitors. There will be a trade off between the pleasures of food and inconvenience of access and facilities.
Third, from glasses investor, a financial supermarket providing an easy means of portfolio diversification. Many empirical studies to prove the existence of a negative correlation between yields on investment yields on stocks and commodity investment returns, a negative correlation between price movements of gold and U.S. dollar prices and such. Changes in the composition of the portfolio in order to manage risk exposure, it is only optimal when available a rich variety of instruments and illiquid. Allocation of funds of a country fund on a stock exchange is largely determined by the size of the capitalization market. The attractiveness of a futures exchange is largely determined by the level of liquidity. Completeness of the product in a supermarket is to determine the level of sales turnover.
Futures trading industry like what we want to build in Indonesia? Hawkers in a narrow alley or a supermarket? The answer can not be done only by a single institution, but must be a consensus of all stakeholders. Quoting Fred Poltak, a Dutch psychologist: “The main factor affecting the success of a world civilization, is a collective vision that is owned by individuals about the future they”.
There a mixture of professions that can be selected within healthcare industry if you are known as a person who owns huge awareness to look after people’s health, and it goes without saying if many people who consider the promising career that can be counted on for their life can be found over the multiply careers in medical industry. A special profession like Radiology Technician will be frequently met in a variety of medical centres whether health clinics, hospital, laboratories, dental offices, convalescent, doctor’s offices and many else. Radiology technician may also be known as x-ray technician.
