Indonesia Stock Exchange (IDX)
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The Indonesia Stock Exchange (IDX)
The Jakarta Stock Exchange (JSX) began as an Association of Stockholders in 1912. After being dormant for many years, it reopened in its present form in 1977. There is also a stock exchange in Surabaya, East Java, which is much less liquid than Jakarta and most companies prefer to list on the JSX. In March 1992, JSX was privatised and PT Bursa Efek Jakarta (BEJ) took over the day-to-day operations from Bapepam-LK. BEJ/JSX is a privately-owned limited company, whose shareholders are local stockbroking firms. It holds the central record of share transactions, which are registered upon completion on the floor of the JSX.
Jakarta Futures Exchange (JFX)
Indonesia’s first futures exchange, The Jakarta Futures Exchange (JFX), started trading in December 2000. JFX trades various commodities, indexes and foreign exchange futures products. Transactions are mainly dominated by Futures Contracts on commodities, such as Gold, Olein, etc. JFX has significantly increased its net income and daily trading during 2004. JFX introduced a remote trading system called JAFeTS (Jakarta Futures Electronic Trading System) in January 2006.
Surabaya Stock Exchange (SSX)
Most of the Indonesian corporate bonds are listed in the SSX. SSX provides Over-The-Counter facility and enables market participants to report their transactions. It provides market information and easy reference for market participants to conduct both corporate and government bond negotiation and transaction. An On-The-Counter Fixed Income Trading System (FITS) for corporate bonds trading has been utilized since mid of 2005. SSX also trades equities, but with less market activity than JSX.
Trading System
JSX trading system is called the Jakarta Stock Exchange Automated Trading System (JATS) which facilitates order input, opening price formation, order matching and trade confirmation. Orders are matched first by price priority and then by time priority. Upon trade execution, JATS generates trade confirmations online.
Trading Hours
Monday to Thursday:
Morning Session: 09:30 – 12:00
Afternoon Session: 13:30 – 16:00
Friday:
Morning Session: 09:30 – 12:00
Afternoon Session: 14:00 – 16:00
Note: Trading hours may be changed during the holy month of Ramadan.
Security Identifiers
ISIN: Yes
Other: None
Instruments
Equities: Ordinary shares, preferred shares, rights and warrants
Debt: Corporate bonds, government bonds
Money Market: Sertifikat Bank Indonesia (SBIs), commercial paper, certificates of deposit
Other: Commodity futures, future contracts, currency and interest rate derivatives
Board Lots
Equities: 500 shares or any multiple thereof
Odd lot: Less than 500 shares
Block: Greater than 200,000 shares
Debt: No set board lots
