JSX will move to new office next month

JSX will move to new office next month

JAKARTA (JP): The Jakarta Stock Exchange (JSX) will move to
its fully computerized office by the end of this month, the
executive of the exchange said.

Achmad Daniri, the JSX's director for transactions, said
Monday night that a series of mock trading activities will be
carried out within the next three weeks, at the new trading
floor, as part of preparations for the full computerization
program of the bourse.

He said the trading system, currently carried out manually,
will be fully automated in the new office, which will be located
at the JSX Building at the gateway of the Sudirman Business
District in South Jakarta.

"Scripless (paperless) trading will be introduced at the end
of the year," he told newsmen in a breaking of the fast dinner.

He said the new building will also have a traditional trading
floor despite the fully computerized market.

The traditional trading floor will be used as a back-up
facility to secure continuity of trading should there be any
interruption in the automated trading system, he explained.

The fully computerized trading system will have the capacity
to accommodate 50,000 transactions per day or 40,000 buy and sell
orders per hour.

In comparison, the present manual system is only capable of
handling 3,800 transactions per day.

Daniri said that the new trading system will be integrated
into the computer terminal of PT KDEI, a company which handles
the clearing, settlement and depository service of the stock
market.

The automation of the trading system will use Hewlett Packard
9000 computer hardware, while its software will be the Automated
Securities Trading System developed by the Financial Software
Development Company of Hong Kong. (hen)