IDX apologizes for system fiasco

Indonesia Stock Exchange (IDX) president Ito Warsito apologized to investors for the trading system failure the previous day, which reduced trading volume by two-thirds.

"We would like to publicly apologize, not only to the investors, but also to the public for yesterday's problems," he said on Tuesday, after a meeting with Finance Minister Agus Martowardojo.

The exchange's trading system suffered technical difficulties on Monday, causing a suspension in trading.

It has been reported that several investors are planning to file a class action law suit against the exchange for the system difficulties, which caused a loss of trading time.

Ito concurred that the problem had caused "trading to drop lower than the daily average".

"The daily average for the month of August is approximately Rp 3 trillion, but yesterday, the trading volume was at around Rp 1 trillion," he said.