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Table of Contents
Indonesia Stock Exchange (IDX)
The Indonesia Stock Exchange, the result of the merger between Surabaya Stock Exchange and Jakarta Stock Exchange, is the primary equity market in Indonesia.
Homepage
Currency: Indonesian Rupiah (IDR)
Trading Hours & Calendar
Trading Summary
All equities trading is processed through a facility called JATS which is accessible only Exchange members. More information on the Equity trading mechanism for IDX can be found here.
Lit Order-types
- Limit Buy/Sell/Short-Sell (Day)
Basic Market Rules
- Lot Size is 500 shares
- Tick Size varies by price as follows:
| Price Range | Tick Size |
|---|---|
| < Rp 200 | Rp 1 |
| Rp 200 - 500 | Rp 5 |
| Rp 500 - 2,000 | Rp 10 |
| Rp 2,000 - 5,000 | Rp 25 |
| > Rp 5,000 | Rp 50 |
- Short Sale Rules - Naked short selling is prohibited. A short locate must be obtained and all short sell orders must be properly marked.
- Circuit Breakers
| Stage | Trigger | Action |
|---|---|---|
| First | If the IDX composite index falls by 10% from the previous day's close | All trading in listed securities will be halted for 30 minutes |
| Second | If the IDX composite index falls by 15% from the previous day's close (i.e. another 5%) | Trading in all listed securities will be suspended until the closing time of that session, or more (given the approval by Bapepam). |
Auction Mechanisms
Both the opening and closing auction mechanisms in Indonesia operate by matching all open orders on a price-time priority basis.
Open
Pre-opening session, during which orders can be entered, is from 08:45:00 - 08:55:00, with order matching occurring from 08:55:01 - 08:59:59 ahead of the market open at 09:00:00
Close
Continuous auction matching selling offer against buying demand entered in pre-closing session from 15:50:00 to 16:00:00 using price/time priority.
The closing price is based on best price and largest volume of shares matched.
Auction Periods
Pre-closing Session (15:50:00 to 16:00:00) - Securities Exchange Member to input selling offers or buying demand
Closing Auction (16:00:01 to 16:04:59) - JATS performs the incurred formation process of Closing Price and performs matching auction continuously selling offer against buying demand on Closing Price based on price and time priority
Order Types
Limit Order with TIF set to DAY
MOC Order with TIF set to DAY
For more information on the auction mechanisms on the Indonesia Stock Exchange, downloadable here