If There Is A Lockdown, The Indonesia Stock Exchange Will Prepare This

Indonesia Stock Exchange Building. (Angga Nugraha/VOI)

JAKARTA - The recent craze for COVID-19 cases in Indonesia has invited pressure from a number of parties for the government in the country to implement. So, if Indonesia is completely locked down, will trading on the Indonesia Stock Exchange (IDX) still be carried out?

Director of Trading and Member Arrangement of the Indonesia Stock Exchange (IDX) Laksono Widodo responded to this in a virtual press conference on Tuesday, June 29 yesterday. According to him, throughout the pandemic that has occurred since 2020, the IDX has continued to operate although with a number of adjustments.

During the COVID-19 pandemic, the IDX implemented a number of new rules related to pandemic conditions, including trading operations, such as adjusting stock exchange hours, prohibiting short selling transactions, and limiting asymmetric auto rejects.

"Whether this rule will be added or subtracted, we are waiting for developments, especially regarding if this republic imposes a lockdown, as has been widely reported on social media for the past few days", said Laksono

The IDX, he continued, would continue to coordinate with the Financial Services Authority and other self-regulated organizations (SROs) to determine the necessary steps if there is indeed a lockdown. This is done so that the market can still operate in an emergency.

He said that the last time the IDX was closed and did not trade was during the 2008 economic crisis. Indeed, at that time, the financial crisis was very extreme and occurred all over the world.

IDX Director Inarno Djajadi said, a number of adjustments related to the capital market that were implemented since the beginning of the 2020 pandemic are still in effect, both operational adjustments and relaxations for issuers such as relaxation of the financial report reporting deadline and share listing fees.

"We review regularly and currently it is still valid. Are there additional relaxations? It's possible, from time to time we review whether it is necessary to add or reduce the relaxation", he said.