Jakarta plans scripless trading by end of 1995<\/p>\n
JAKARTA (JP): The Jakarta Stock Exchange (JSX) will occupy its
\nnew building on Jl. Sudirman, South Jakarta, early next year and
\nlater introduce scripless (paperless) trading at the end of the
\nyear, says a senior official of the exchange.<\/p>\n
Achmad Daniri, director of trading, said here yesterday that a
\nseries of training programs have been arranged for the exchange
\nmembers to prepare for the automation of the trading system.<\/p>\n
\"We hope the computerization can be fully implemented by the
\ntime we move to the new building,\" he told securities brokers and
\ndealers in a meeting.<\/p>\n
During yesterday's meeting, JSX officials explained the
\ntechnical aspects to the securities brokers and dealers of the
\nnew trading system, which has a capacity for handling 50,000
\ntransactions per day and for carrying out 40,000 buy and sell
\norders per hour.<\/p>\n
The present manual system is only capable of handling 3,800
\ntransactions per day.<\/p>\n
He described the operation of the automated trading system as
\na spectacular change in the technology of stock trading
\nactivities in Indonesia.<\/p>\n
Daniri said that the exchange will maintain its trading floor
\ndespite the fully automated market to secure the continuity of
\nthe trading.<\/p>\n
\"The trading floor will be used if there is an interruption in
\nthe automated trading system,\" said Daniri of his reason for
\npreserving the traditional trading system.<\/p>\n
Daniri said that a trial operation of the fully automated
\ntrading system will be carried out as soon as January of next
\nyear.<\/p>\n
The new JSX office will be located at the Jakarta Stock
\nExchange Building at the gateway of the Sudirman Business
\nDistrict, which is now under development at the Semanggi
\ninterchange in the heart of the city. The construction of the
\nhigh rise building will be completed next month.<\/p>\n
Daniri said that the new trading system will be integrated
\ninto the computer terminal of PT KDEI, a company which handles
\nthe clearing, settlement and depository service of the stock
\nmarket.<\/p>\n
The automation of the trading system will use Hewlett Packard
\n(HP) 9000 computer hardware, while its software will be the
\nAutomated Securities Trading System (ASTS) developed by the
\nFinancial Software Development Company of Hong Kong. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jakarta-plans-scripless-trading-by-end-of-1995-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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