SSX launches remote trading system<\/p>\n
SURABAYA, East Java (JP): The Surabaya Stock Exchange (SSX)
\nlaunched the operation of an automated remote trading system
\nyesterday in an attempt to boost its liquidity.<\/p>\n
\"The new system provides real time access for brokerage houses
\nand therefore will increase the number of stock transactions on
\nthe SSX,\" SSX President Isaka Yoga told journalists yesterday.<\/p>\n
The system, according to Isaka, is also connected to the
\nJakarta Stock Exchange's (JSX) trading system, known as the
\nJakarta Automated Trading System (JATS), the Parallel Information
\nBonds System and the clearing and settlement house PT KPEI in
\nJakarta.<\/p>\n
The SSX, set up in 1989 as the first private stock exchange in
\nthe country, is almost inactive because most investors prefer to
\ntrade on the JSX due to the former's poor liquidity.<\/p>\n
The SSX currently has 203 listed companies with total market
\ncapitalization of approximately Rp 194 trillion (US$82 billion)
\nas a result of cross-listing arrangements with the JSX.<\/p>\n
Of the 203 companies, only 11 are listed at the SSX on a
\nsingle-listing arrangement.<\/p>\n
Isaka said that about 50 brokerage houses are ready to use the
\nsystem and 60 other firms have expressed their willingness to do
\nso in the future.<\/p>\n
He said that by installing the new system, the SSX wants to
\ntell the investing public that they can make transactions through
\nthe exchange at competitive prices.<\/p>\n
Isaka also said that in line with the SSX program to bring in
\nexploration and mining companies, the management is currently
\nlooking for cooperation with stock exchanges in Australia and
\nCanada, where many resources companies are listed.<\/p>\n
It should be easy for exploration companies to go public
\nthrough the SSX but none of them have done so.<\/p>\n
Analysts have blamed the SSX's poor performance as the main
\nreason why they have not listed on the exchange.<\/p>\n
Instead, exploration companies are now looking for special
\ntreatment from the JSX. (15\/alo)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ssx-launches-remote-trading-system-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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