Phase-I Special Monitoring Board Will Be Launched By IDX On June 12, 2023

Indonesia Stock Exchange (Photo: Doc. Antara)

JAKARTA - PT Bursa Efek Indonesia (IDX) will launch the first phase of the Special Monitoring Board for the hybrid call authorization on June 12, 2023.

The IDX has issued Exchange Regulation Number I-X concerning Placement of Equity Efficacy Listing on Special Monitoring Boards valid on June 9, 2023, and Exchange Regulation Number II-X concerning Equity Stock Trading on Special Monitoring Boards which will take effect on June 12, 2023, as stated in an official statement in Jakarta, Thursday.

This special monitoring page is the development of the Special Monitoring Stock List. The implementation will be carried out in stages so that investors can understand and are familiar with special monitoring boards and so that listed Companies can recover their condition," said Director of Trade and Regulation of IDX Exchange Members Irvan Susandy quoting Antara.

He said, in the first or hybrid stage, the Special Monitoring Board trading mechanism using the periodic call authorization mechanism in one day will be valid for two sessions.

He explained, issuers who are included in the non-liquid criteria will be included in the call action trading, while, the auto rejection provisions are 10 percent and the minimum price is IDR 1.

"Meanwhile, issuers who are included in special monitoring boards due to other criteria remain in trading using a continuous authorization mechanism, with the condition that auto rejection is 10 percent and a minimum price of IDR 50," said Irvan.

Furthermore, Irvan explained that the application of this hybrid special monitoring board was carried out in the context of a transition to familiarizing market participants to be more familiar with the call authorization trading mechanism.

"In the call-auction trading mechanism, investors will make orders to buy/sell at certain bid/ask prices to be collected and encountered at the end of each session. The call-auction mechanism has also been used in pre-opening and pre-closure sessions," said Irvan.

He continued the trading mechanism on special monitoring boards with a hybrid call authorization will be carried out for six months, which then proceeds with a full call authorization, which is scheduled for December this year.

Bursa akan menyampaikan daftar saham yang akan ditempatkan pada papan pemantauan khusus. Pengumuman daftar saham papan monitoring khusus ini bisa dilihat pada website resmi Bursa. Diharapkan investor dapat lebih aware dan mendapatkan mekanisme transaksi yang lebih sesuai dengan kondisi saham tersebut, ujar Irvan.