SSE to open more trading galleries

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)