JSX to open 200 remote trading terminals

JAKARTA (JP): The Jakarta Stock Exchange (JSX) plans to install 200 computer terminals at the offices of securities firms in Greater Jakarta and Bandung, West Java, for remote trading activities.

JSX's trading director Mas Achmad Daniri said here over the weekend that JSX is offering to open trading galleries at securities offices where JSX can install computer terminals.

He promised that JSX will give incentives to securities firms which open branches either outside the city or in the city.

"We will waive all fees during the first year of operation for those who open trading galleries in Greater Jakarta and during the first two years for those who open galleries outside the city," Daniri was quoted by Bisnis Indonesia as saying on Saturday.

Currently, JSX has installed 416 computer terminals on its trading floor in the Sudirman Central Business District.

JSX president Hasan Zein Machmud said recently that the remote trading facilities are meant to net as many domestic investors as possible so that JSX will have a stronger base of local investors.

Currently domestic investors have been the main concern in developing local stock markets because their transactions represent only 30 percent of total trading activities.

Felia Salim, another director at JSX, explained last week that to net more domestic investors, JSX must first educate the public about investing money on stock exchanges.

She explained that before conducting remote trading, JSX plans to open stock market information centers in cities outside Jakarta and more especially outside Java. Currently JSX has such a center in Medan, North Sumatra.

"By establishing such stock market information centers, we hope that the people around the centers will be well-informed about stock markets and then become potential investors," Felia said. "Only then, should we install remote trading facilities."

JSX plans to launch its remote trading in March next year. Remote trading is made possible by the automation of the trading system at JSX. The new system commenced use last May and was dedicated by President Soeharto early this month. (rid)