IDX Implements A 'Full Call Auction' Scheme On A Special Monitoring Board Starting March 25, 2024

IDX Development Director, Jeffrey Hendrik. (Photo: Doc. Antara)

JAKARTA - PT Bursa Efek Indonesia (IDX) will implement a full call authorization scheme or a regular full auction system on the Special Monitoring Board starting March 25, 2024.

IDX Development Director Jeffrey Hendrik explained, in the second phase of implementation, all shares included in the Special Monitoring Board will be traded in Full Periodic Call Auction for five sessions in daily trading.

"The IDX plans to implement it on March 25, 2024, if there are no significant obstacles," Jeffrey said during the Capital Market Journalist Education session in Jakarta, quoted from Antara, Friday, March 15.

Meanwhile, the full call authorization scheme is a trading mechanism with bid and ask quotas that will match at certain hours, then the share price will be determined based on the largest volume, where so far, call authorization has also been used in pre-opening and pre-closure sessions.

Jeffrey said, the purpose of implementing this board is to increase protection for investors by placing shares with certain criteria on boards that have separate criteria.

Previously, the investor protection mechanism was only limited to the imposition of sunspension and sanctions, so this board allows shares to be transacted specifically with a lower limit of IDR 1 transaction.

In addition, it is also to minimize the formation of unreasonable prices and a more appropriate price disclosure process for stocks with low liquidity.

Previously, the IDX launched the first phase of the Special Monitoring Board for the hybrid call authorization on June 12, 2023.

Until now, stocks that are included in the Special Monitoring Board are traded with two mechanisms, namely continuous authorization and periodic call authorization.