Scripless trading on JSX to start in January<\/p>\n
JAKARTA (JP): All share transactions on the Jakarta Stock
\nExchange (JSX) will be settled by PT Kliring Deposit Efek
\nIndonesia through the netting system beginning on Monday.<\/p>\n
\"The full application of the netting system to settle all
\nshare transactions is the final step before the introduction of a
\nscripless trading on the JSX in early January,\" Bacelius Ruru,
\nChairman of the Capital Market Supervisory Agency said yesterday.<\/p>\n
Ruru told a news conference that a transition of at least four
\nmonths is needed to shift from the netting system to fully
\nautomated trading system.<\/p>\n
KDEI's director Sumantri Slamet who also attended the press
\nmeeting said that the netting system had been used since early
\nthis year initially for settling the transactions of four share
\nissues. It was later extended to sixty issues.<\/p>\n
KDEI, the agency responsible for clearing and settling share
\ntransactions on the JSX and the Surabaya Stock Exchange (SSE),
\nis owned jointly by seven state banks, JSX and SSE.<\/p>\n
The main task of KDEI is to improve the efficiency of the
\nclearing and settlement process in domestic capital markets to
\nmeet the needs of capital market participants as well as the
\ninternational standards.<\/p>\n
Under the automated trading system, securities certificates
\nwill be immobilized or stored in a central depository to
\nfacilitate the legal transfer of title and eliminate securities
\nmovements in the settlement process.<\/p>\n
Ruru hoped that the netting system would soon be introduced on
\nthe SSE and the over the counter market (parallel market).<\/p>\n
KDEI invested more than $150,000 in the development of its
\nsoft-ware system and hired about 130 employees, 70 percent of
\nwhich are clearing specialists. (icn)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/scripless-trading-on-jsx-to-start-in-january-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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