IDX Optimizes Debt And Sukuk Stock Trading Services

JAKARTA - PT Bursa Efek Indonesia (IDX) with the support of the Financial Services Authority (OJK), PT Kliring Penjaminan Efek Indonesia (KPEI), and PT Kustodian Sentral Efek Indonesia (KSEI) continue to strive to improve services while adding various variety of products available in the Indonesian capital market.

Citing a written statement, Saturday, April 1, several developments, particularly regarding the Trade of Debt and Sukuk (EBUS) Securities, have been carried out at this time and among others are the development of an Alternative Market Organizing System (SPPA).

This is to increase the efficiency and effectiveness of all Debt Securities Market Players in Indonesia. Where, the IDX will integrate EBUS trading on the SPPA platform and terminate the fixed Income Trading System (FITS) trading system service.

This development will also be accompanied by the revocation of regulations related to FITS starting April 3, 2023.

EBUS trading in the global market, including in Indonesia, is mostly carried out outside the Exchange (Over the Counter). As an effort to optimize and integrate EBUS trading in the Indonesian capital market, the IDX provides FITS which is a means of trading for EBUS, including bonds and sukuk listed on the IDX.

In its development, the use of FITS by market participants is less than optimal, so the Stock Exchange will focus on organizing EBUS trading activities outside the Exchange through SPPA. Currently, SPPA has been able to accommodate EBUS buying and selling transactions (outright) and is accessed by all Debt Securities Market Actors (including Main Dealers, Banks, Stock Companies, and Money Market Auctions).

SPPA is also a platform that is integrated with the Stock Transaction Report System (PLTE), making it easier for market participants to transact EBUS.

SPPA will continue to be developed to accommodate the needs of market players and the development of debt securities business to increase the efficiency and effectiveness of the trading transaction process in the Debt Market. The exchange will also develop a Repurchase Agreement (Repo) transaction on EBUS on the SPPA platform in 2024. SPPA has wide development potential so that it is expected to become an integrated and beneficial platform for the Indonesian financial sector.

In the future, it is hoped that Stock products and services can be more varied at once according to market needs. This is to provide attractive options for investors in investing in the Indonesian capital market.