JAKARTA - PT Bursa Efek Indonesia (BEI) officially started the implementation of stock liquidity provider quotes as part of efforts to strengthen liquidity and trading efficiency in the Indonesian capital market.
This implementation is marked by the implementation of the initial quota by Phintraco Sekuritas today, Monday, April 20.
In the initial stage, Phintraco Securities provides quotes in the form of providing buy and sell orders for 5 (five) stocks, namely PT Gudang Garam Tbk (GGRM), PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM), PT Trans Power Marine Tbk (TPMA), PT Asuransi Tugu Pratama Indonesia Tbk (TUGU), and PT Wintermar Offshore Marine Tbk (WINS).
Director of Trade and Regulation of Bursa Members of the IDX, Irvan Susandy, conveyed that the presence of stock Liquidity Providers plays an important role in improving the quality of trading through narrowing the bid-ask spread, increasing market depth, and supporting ease of transactions for investors.
Irvan said that the active participation of Exchange Members as stock Liquidity Providers is an important element in improving liquidity and the quality of price discovery.
"BEI appreciates Phintraco Sekuritas' commitment in supporting the stock Liquidity Provider program. We hope that this step can encourage increased liquidity, especially in stocks that have the potential to grow more optimally," he said.
He added that the IDX assessed that the involvement of Exchange Members would be a key factor in the success of the implementation of this program.
Therefore, Irvan said the IDX continues to encourage wider participation from market participants so that this initiative can run optimally.
According to him, the success of the implementation of this initial quota is expected to be a catalyst for other Bursa Members to participate, so that the trading ecosystem becomes increasingly liquid, credible, and competitive.
He added that this is also proof of the commitment of the IDX in continuing to increase market deepening.
Irvan said the IDX would conduct continuous evaluations, provide incentives and continue to encourage the active participation of all Exchange Members in the stock Liquidity Provider program.
According to him, this step is an effort to strengthen the market structure and increase the attractiveness of the Indonesian capital market at the regional and global levels.
Information regarding the list of shares quoted by the stock liquidity provider is available on the BEI website on the page www.idx.co.id > Market Data > Stock Data > List of Stock Liquidity Provider Shares or via the link www.idx.co.id/id/data-pasar/data-saham/daftar-efek-liquidity-provider-saham/.
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