TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Former officials share experience on 25th IDX anniversary
Change Size
Former Jakarta Stock Exchange (JSX) president director (1999-2002) Mas Achmad Daniri speaks during the 25th anniversary of the Indonesia Stock Exchange (IDX) in Jakarta on July 13. (JP/Anton Hermansyah)
F
ormer directors and commissioners of the Indonesia Stock Exchange (IDX) were invited to the commemoration of the IDX’s 25th anniversary on Thursday to share their experience at the bourse in the early years.
After the stock exchange was privatized during the leadership of former president commissioner Marzuki Usman, the capital market started to boom, said Mas Ahmad Daniri, JSX president director from 1999 to 2002.
Marzuki pushed for deregulation and persuaded owners of private companies to go public. By the time Marzuki relinquished the helm in 1995, the number of listed companies had jumped to 140. "During the Marzuki Usman period, there was no day without an initial public offering," Daniri said.
In the days when the bourse was managed by the government, only 24 companies were listed.
Daniri said operations became more efficient after the introduction of an automated trading system in 1995. "I remember we used to deal with truckloads of documents every day, but now it can be done electronically," he said.
The IDX was formed in October 2007, when the Jakarta Stock Exchange (JSX) merged with the Surabaya Stock Exchange (SSX) during the leadership of president director Erry Firmansyah.
"The establishment of the IDX made the capital market more efficient. We used to compete with our ‘brother’ Surabaya Stock Exchange," said Erry, who expressed hope that the bourse would continue to improve its performance.
A presidential decree was issued on July 13, 1992 to privatize the JSX. (bbn)
