JSX to start remote trading by June<\/p>\n
BOGOR (JP): The Jakarta Stock Exchange will introduce a remote
\ntrading system beginning June next year in a bid to boost the
\nparticipation of local investors.<\/p>\n
JSX president Mas Achmad Daniri said that the adoption of
\nremote trading system was also part of preparations for online
\ntrading via the Internet.<\/p>\n
\"Remote trading and access to brokers in cities outside
\nJakarta will help build a strong base for local investors,\" he
\nsaid following the opening of a securities company branch office
\nhere.<\/p>\n
Daniri declined to divulge how much the JSX would set aside to
\ndevelop the remote trading system, saying that details had to
\nwait for the company's general shareholders' meeting.<\/p>\n
Daniri said previously that developing the remote trading
\nsystem might cost the exchange operator some Rp 20 billion
\n(around US$2.2 million).<\/p>\n
He further said that before remote trading could become
\nwidespread, traders must also upgrade their trading system.<\/p>\n
According to him, in applying the right system, JSX would seek
\ntechnologies that would suit investors' needs and were also up to
\ndate.<\/p>\n
Using a remote trading system, traders from outside Jakarta
\ncould access the stock market and execute on-line trades.<\/p>\n
\"If the system is fully adapted by traders, their presence on
\nthe trading floor would become unnecessary,\" Daniri said, adding
\nthat remote trading was an alternative to expanding the market
\npenetration.<\/p>\n
He said that there were several ways to expand the market,
\nincluding opening of securities companies branches in the other
\nmajor cities.<\/p>\n
On Friday securities company PT Perdana Futura Centra
\nInvestama (PDFCI), a former subsidiary of the now defunct Bank
\nPDFCI, opened its fifth branch in Bogor.<\/p>\n
PDFCI president Nenny Sutanto said the company expanded its
\noperation to Bogor because the city had many middle-class
\ncitizens who were potential investors.<\/p>\n
She said the company had invested some Rp 250 million in the
\nbranch and was operating other branches in Medan, North Sumatra,
\nPalembang, South Sumatra, Batam and in Bali.<\/p>\n
PDFCI also plans to open branches in Sulawesi and Kalimantan.<\/p>\n
Asked why PDFCI was expanding, she said the company was upbeat
\nthat the now sluggish stock market would improve in the future.<\/p>\n
\"We prepare umbrellas before it rains so that once the market
\nis growing we'll benefit from our investments,\" she explained.<\/p>\n
The company's finance director Antony further said that PDFCI
\nplanned to go public next year. (bkm)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-to-start-remote-trading-by-june-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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