SSE to open more trading galleries

JAKARTA (JP): The Surabaya Stock Exchange (SSE) plans to open stock trading galleries in all Indonesia's provinces to rack up more retail investors.

Yesterday, H.T. Helmy Azwari, an SSE director, said in Surabaya, East Java, that the SSE is currently sounding out possibilities of opening trading galleries in Semarang and Surakarta, both in Central Java, Bali's capital city Denpasar, and Ujungpandang in South Sulawesi.

Helmy explained that the SSE needs at least Rp 94 million (US$41,400) to open one trading gallery, which includes the installation of telecommunications facilities.

He was quoted by Antara as saying that trading galleries provide not only information on listed stocks and bonds but also trading facilities. Shares traded at galleries are in lots of 500 stocks and less.

Currently, the SSE has two trading galleries, one at the office of Bank Danamon Securities and the other at Roxy Mas, both in Jakarta. The two trading outlets were previously operated by the defunct over-the-counter stock market, the Indonesian Parallel Bourse, which was acquired by the SSE few a months ago.

Following the acquisition of the parallel bourse by SSE, Marzuki Usman, chief commissioner of the Jakarta Stock Exchange (JSX), said that the JSX planned to acquire SSE early next year to create a single, effective and efficient Indonesian stock exchange. (rid)