Scripless trading to boost markets<\/p>\n
JAKARTA (JP): The transaction volume of trading in the Jakarta
\nand Surabaya stock markets is expected to triple when scripless
\ntrading is introduced next June.<\/p>\n
Scripless Trading Committee Chairman Surdiyanto Suryodarmodjo
\nsaid here yesterday that scripless trading would allow investors
\nand brokerage firms to transfer shares and funds through an
\nelectronic system.<\/p>\n
\"When scripless trading is introduced, transaction volume is
\nexpected to increase.<\/p>\n
\"Scripless trading will enable people to use the electronic
\ntransaction system without having to deal with the stocks
\nphysically,\" he said.<\/p>\n
When Malaysia introduced its scripless trading system several
\nyears ago, the transaction volume and value increased by almost
\n500 percent, he said.<\/p>\n
The system will enable people to transfer shares and funds
\nmore smoothly and quickly through an assigned custodian bank.<\/p>\n
He said that currently a brokerage firm, for example, had to
\ndeliver stocks physically to the seller, and the seller had to
\ndeliver the funds to the buying brokerage firm.<\/p>\n
\"There will a big difference when the scripless trading
\nintroduced.\"<\/p>\n
He said the scripless trading committee was finalizing
\npreparations for the trading.<\/p>\n
\"Hopefully, everything will be completed by early December.\"<\/p>\n
The committee is also preparing to set up a new company to
\ntake charge of transaction settlements in the stock market.<\/p>\n
Surdiyanto said the company would take over the tasks of PT
\nKliring Deposit Efek Indonesia which was liquidated early this
\nmonth.<\/p>\n
\"But we do not have details of the new company yet,\" he said.
\n(aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/scripless-trading-to-boost-markets-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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