OJK And IDX Agree To Postpone Short Selling Implementation

Photo: Aris Nurjani/VOI

JAKARTA - The Financial Services Authority (OJK) together with PT Bursa Efek Indonesia (IDX) agreed to postpone the implementation of short selling, and there is a possibility that issuers can buy back without the approval of the GMS.

This was conveyed by the Chief Executive of the Capital Market Supervisory, Derivative Finance, and OJK Carbon Exchange Inarno Djajadi in a press conference with capital market players.

"OJK will take the initial policy for the first time to postpone the implementation of short selling activities. In addition, there are other policy options that, if needed, are to review share buybacks without rups while still paying attention and considering the situation and conditions that will occur later," he said, Monday, March 3.

Inarno said that in making the policy, his party also focused on three things, namely market stability, increasing liquidity, and protecting investors.

"We also want to convey a message that we are here to observe and also play an active role in keeping the Indonesian capital market stable, transparent, and with integrity, especially for local, retail, and institutional investors," he explained.

Inarno also advised to jointly build a more solid, more resilient, and more competitive capital market for more advanced Indonesia.

On the other hand, Inarno said that he had listened to many constructive inputs from market players as well as all capital market stakeholders and of course they would immediately be followed up in accordance with their respective capacities and roles.

"In terms of regulators, we have caught the concerns of capital market stakeholders regarding the pressure that has occurred on the composite stock price index recently," he explained.