JSX delays trading move

JSX delays trading move

JAKARTA (JP): The relocation of Jakarta Stock Exchange (JSX)
trading activities to a new building, originally scheduled for
Monday, has been delayed until next month.

The JSX authority gave no official statement about the delay.
A source has said, however, that the delay is related to the
fully automated trading system, which is still not working
properly. "The new system is being tested as there are still a
number of technical errors," he said.

The JSX authority planned to move its trading section to the
new building on Jl. Sudirman on Monday, with the other sections
to follow in August.

The Capital Market Supervisory Agency (Bapepam) has already
moved into the new building, which is part of the Sudirman
Central Business District.

The JSX's new trading system has a capacity of handling 50,000
transactions per day and for carrying out 40,000 buy and sell
orders per hour, while the present manual system is only capable
of handling 3,800 transactions per day, said Achmad Daniri, the
director for transactions.

Daniri said that the exchange will maintain its trading floor,
despite the problematic automated trading system, to secure the
continuity of trading. The trading system, which uses Hewlett
Packard (HP) 9000 computer hardware and Automated Securities
Trading System (ASTS) software, will eventually be linked to the
computer system of PT KDEI, a company which handles the clearing,
settlement and depository service of the stock market. (hen)