IDX Wants To Trade Shares More Actively In Line With The Implementation Of Full Call Auction
JAKARTA - Director of Trading and Regulation of Share Members of PT Bursa Efek Indonesia (IDX) Irvan Susandy wants stock trading to be more active as the Full Periodic Call Auction Special Monitoring Board (PPK) has implemented.
"Through this mechanism, we hope that these shares can be more actively traded according to their fair price, whose information can be seen through IEP & IEV," said Irvan to the media crew in Jakarta, quoted from Antara, Wednesday, March 27.
Irvan explained that the Full Periodic Call Auction Special Monitoring Board (PPK) is a further development of the Hybrid Call Auction aimed at providing protection for investors in the Indonesian capital market.
"Shares that are included in the Special Monitoring Board are shares that are subject to fundamental or liquidity criteria, as stipulated in Regulation Number I-X concerning Placement of Equity Equity Securities Listing on Special Monitoring Boards," said Irvan.
Through this trading method, his party hopes that price formation will be fairer, because it takes into account all orders contained in the orderbook, so that it can provide protection to investors for potential aggressive orders that enter the market.
"Although the minimum price limit applied to this Special Monitoring Board share is IDR 1, the daily Auto Rejection that we apply to stocks on this board is smaller than the others, which is 10 percent," said Irvan.
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The IDX has implemented a Special Monitoring Board for Full Periodic Call Auction on Monday, March 25, 2024, which aims to provide special segmentation in accordance with investors' investment strategies, as well as increase stock liquidity under certain conditions, as an effort to increase investor protection in the Indonesian capital market.
"In the implementation of the Full Periodic Call Auction, all shares included in the Special Monitoring Board will be traded in a periodic Call Auction, consisting of five periodic Call Auction sessions in one day," said Irvan.