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IDX kicks off T+2 settlement
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Financial Service Authority (OJK) chairman Wimboh Santoso, OJK deputy chairman Nurhaida, Indonesia Stock Exchange (IDX) president director Inarno Sjajadi, Bank Indonesia deputy chairman Mirza Adityaswara, Deputy Finance Minister Mardiasmo and other relevant officials launch the T+2 transaction system for the IDX at Gelora Bung Karno sport complex in Jakarta on Nov. 25. (kompas.com/Mutia Fauzia)
T
he Indonesia Stock Exchange (IDX) shortened on Monday its transaction settlement to two days (T+2) from three days (T+3) previously.
The new system was launched by Financial Service Authority (OJK) chairman Wimboh Santoso at the Gelora Bung Karno sports complex in Jakarta on Sunday.
“We have changed from T+3 to T+2, making it more efficient for customers, as sellers will have their money within just two days from three days previously,” said Wimboh during the launch ceremony.
Meanwhile, investors would also get their shares faster, he said, adding that with the new policy, the IDX was expected to become more liquid so that it could help maintain the stability of the Indonesian financial system.
With the new policy, Indonesia became the second country in Southeast Asia to implement T+2 settlement after Thailand, Wimboh said.
“In ASEAN, only Thailand had T+2 settlement. But now, Indonesia will also implement T+2 settlement,” he said as quoted by komaps.com, adding that Singapore and Malaysia also planned to implement T+2 settlement.
Wimboh said that Indonesia could now adjust its system to countries that already implemented T+2 settlement, so that more foreign investors could invest in the Indonesian stock market. (bbn)
