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)