Remote trading on JSX reaches Rp 4.9t
Remote trading on JSX reaches Rp 4.9t
The Jakarta Post, Jakarta
One year after its commencement, the value of share transactions
through remote trading on the Jakarta Stock Exchange (JSX) has
reached Rp 4.9 trillion (about US$563 million).
A press release issued by the JSX on Wednesday said there were
some 525,241 orders and a transaction volume of 7.9 billion
shares.
The release also said that share trading through the remote
system in the third week of this month reached Rp 231 billion
with a transaction volume of 457 billion shares.
During the week, PT Trimegah Securities was announced as the
most active brokerage making transaction with 2,724 transactions,
while the highest transaction value was recorded by PT Ciptadana
Sekuritas at Rp 67 billion.
Remote trading is a long distance trading system that can be
accessed by JSX members, under which any transaction order can
automatically be entered into JSX's automated trading system, or
JATS, without having to enter orders through the trading floor.
Remote trading, which was first launched on March 28, 2002, is
facilitated by the JSX using the host-to-host order system where
the JSX facilitates the interface application for its members.
The launching of remote trading was aimed at preventing
bottlenecks arising on the manually-operated trading floor which
could slow down the transaction process as the floor has
limitations in receiving large volume orders.
The entry of an order from sales to the floor trader using the
manual system took about 15 seconds, but with the remote trading
facility the process can be shortened to less than 8 seconds.
Remote trading was also designed to limit human error during
order entry on the trading floor as the executing message from
investor to the floor was still received through a phone call
which was often unclear.
The difference between remote trading and online trading is in
the process of inputting the order. In remote trading, the input
process can only be done through a computer located in the
member's office.
While in online trading, members input an order through
various technological gadgets such as the Internet, mobile phones
and automatic teller machines. However, in an online trading, the
member must develop its own system and interface to enable
increased service for its clients.