Jakarta, CNBC Indonesia – The Indonesia Stock Exchange (IDX) has confirmed that it will start implementing new features of the trading system on the stock exchange on December 6, 2021.
Later, IDX will launch a new trading system feature in the Jakarta Automated Trading System (JATS) and coincide with the closing of stock broker codes and investor types.
Later, investors will no longer be able to see members of the stock exchange (AB) who trade certain shares and the type of investor at the time of trading. New investors will find out after the trading session is over.
The Director of Trading and Exchange Members, Laksono Widodo, confirmed that the implementation of the regulation will take effect on December 6 and will coordinate with the Financial Services Authority (OJK).
“That’s the plan. We will coordinate beforehand with OJK regarding this,” said Laksono, to CNBC Indonesia, Thursday (11/18/2021).
As is known, the implementation of this regulation was previously postponed from what was supposed to be on July 26, 2021.
This delay is due to waiting for the readiness of the system from exchange members as well as waiting for technical readiness from the trading side of the exchange with new features.
Meanwhile, the consideration of this policy is primarily to reduce the herding behavior of the market to certain stocks.
Another is to improve market governance.
“Improving market governance by reducing herding behavior,” said Laksono, previously.
Another consideration is from a technical point of view. Laksono said the closing of the broker code would reduce data bandwidth requirements. This is because the high demand for bandwidth causes delays in trading activities considering the high frequency of trading lately.
Laksono emphasized that closing the broker code is a best practice which is also carried out in other stock exchanges. This is also considered not to make the exchange closed, because this data can still be accessed at the end of the trading day.
“This does not make the market more closed because that is the practice in other exchanges in the world,” he said.
(sys / hps)
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