IDX Will Enter 'Creating Rights' To Special Monitoring Papas

Illustration of IDX (Photo: Doc. Antara)

JAKARTA - PT Bursa Efek Indonesia (IDX) will enter into special monitoring boards of stocks whose movements are unusual or often called 'Fried stocks'.

Director of Transaction and Compliance Supervision of the Indonesia Stock Exchange (IDX) Kristian Sihar Manulang said that his party would take quick action (isticate action) against customers through Exchange Members (AB), as a preventive effort to remind them of their transactional behavior.

"Bursa also provides a special notation and then includes it in special monitoring of certain stocks that have special notes related to price fundamentals and volatility," Kristian said, quoting Antara, Tuesday, February 7.

Furthermore, the IDX also imposes Upper Auto Reject (ARA) and Lower Auto Rejection (ARB) on the stock order that reaches a certain price level.

"Everything is aimed at protecting investors," said Kristian.

He conveyed that his party was monitoring all transactions, supervisory measures, inspections and coordinating transaction supervision with the Self-Regulatory Organization (SRO) and the Financial Services Authority (OJK).

Furthermore, the IDX will conduct education and outreach through various media to investors, so that investors understand various things that must be considered in transactions as an effort to protect investors.

"To enliven the market, exchanges add listed companies, develop investment products and continue to monitor the market so that it runs regularly, normally and efficiently," Kristian said.

Previously, President Joko Widodo hoped that the action of frying Gautam Adani's shares in India would not be repeated in the Indonesian capital market, where the micro-case had a major impact on the country's economy.

One Adani company lost 120 billion US dollars, lost.rupiahed Rp1,800 trillion. Be careful about this, supervision, supervision, supervision. Don't let anyone escape like that because they fried Rp1,800 trillion," said President Jokowi.

As a result of this incident, Adani's wealth shrank 64.7 billion US dollars in 10 days, and the Indian stock exchange immediately volatile.

The loss of Rp1,800 trillion from Adani Group's assets made a quarter of India's Gross Domestic Product (GDP) disappear, causing the rupee currency to fall.

"So it's right to see which ones like to fry. If you fry (share) when you get it, yes, it's good, but if you fall into it like earlier I told Adani in India," said Jokowi.