OJK And IDX Have Different Opinions Regarding The Evaluation Of Halt Trading

Chief Executive of Capital, Finance, Derivative and Carbon Exchange Supervisory OJK Inarno Djajadi, and IDX President Director, Iman Rachman. (Karisa Aurelia/VOI

JAKARTA - Chief Executive of the OJK Capital, Finance, Derivative and Carbon Exchange Supervisory Agency, Inarno Djajadi, opened his voice regarding the statement by the Coordinating Minister for Economic Affairs Airlangga Hartarto who asked to conduct an evaluation regarding the rules for temporarily stopping trading or trading. bust.

Inarno conveyed that the regulation for the termination of temporary trade or trading halt, which is currently a Standard Operating Procedure (SOP).

"No, no, it is already our SOP," he explained to the media crew, March 19.

Meanwhile, Director of Trade and Member Regulation of the Indonesia Stock Exchange, Irvan Susandy, said that receiving input from various parties and the trading halt mechanism is a common practice that is also carried out by exchanges in other countries when the index is corrected.

"But what we usually review is the numbers. In what numbers first, as far as I remember, we have also used 7 percent, 12.5 percent, 20 percent of that. We review depending on the market behavior and later developments from investors and other exchanges as well," he told the media crew, Wednesday, March 19.

Irvan said that his party could evaluate the provisions for trading for the halt if requested and changes related to the mechanism were last carried out during the Covid-19 pandemic.

However, Irvan explained that regarding the change back regarding the limit on the trading of the bus stop, his party would conduct a study first.

"We usually do reviews related to this, yes. Lastly, as far as I remember, it was changed to Covid. 5, 10, 15 at the time of COVID-19 we changed the numbers. So will this be possible to be changed? Yes, maybe. But we'll try to study it first," he added.

Previously, the Coordinating Minister for Economic Affairs, Airlangga Hartarto, proposed that the Indonesia Stock Exchange (IDX) conduct a review regarding the rules for temporarily stopping trading or trading.

"Because the 5 percent bus stop regulation was implemented during Covid, of course there needs to be a review of the regulation," said Airlangga at the Merdeka Palace on Tuesday, March 18.

It is known, PT Bursa Efek Indonesia (IDX) decided to temporarily freeze trading on the trading system at 11:31 p.m. Jakarta Automated Trading System (JATS) time.

"We inform you that today, Tuesday, March 18, 2025, there has been a temporary suspension of trading (trading stop) trading system on PT Bursa Efek Indonesia (IDX) at 11:19:31 p.m. Jakarta Automated Trading System (JATS) time," he wrote in an official statement from the Indonesia Stock Exchange, Tuesday, March 18.

Meanwhile, the statement explained that this freeze was triggered by a decrease in the Composite Stock Price Index (JCI) which reached 5 percent.

In addition, this step was taken in accordance with the IDX's Board of Directors Decree Number: Kep-00024/IDX/03-2020 dated March 10, 2020 regarding Changes in the Guidelines for Trading Sustainability on the Indonesia Stock Exchange in Emergency Conditions.

Meanwhile, trading will continue at 11:49:31 WIB without any changes in the trading schedule.