The prospects of online trading at the Indonesia Stock Exchange (BEI) are now brighter as more and more securities companies are providing online-based trading services, BEI president director Ito Warsito said here on Monday.
He said 64 out of the stock exchange’s 119 l members were already using online trading transaction services. In 2010 the number was 50.
In line with the development of online trading BEI has also prepared transaction supervision system. He stated the implementation of the system was part of the implementation of the change in rule A-III on exchange membership.
Under the rules exchange members are required to have adequate front and back office system that could support business continuity plan through remote trading system being developed by the exchange.
The regulation also states exchange members that provide online facility for customers to submit direct orders must have supervisory system and staff in charge of monitoring abnormal customers’ pattern of transactions.
"We are optimistic share transactions in the stock exchange will continue to grow. That is why we keep improving the information technology system at the exchange authorities to support the implementation of straight through processing," he said.
He said online trading was also proven to be able to increase the value of share transactions of exchange members. Until March 2011 the average rate of daily transactions at the BEI has increased up to 105,000 transactions per day.
Overall the hike in transactions rate has also increased the average value of daily transactions. In 2009 the value of transactions reached Rp4.5 trilion and in 2010 Rp4.8 trillion.
Earlier the director of trade and exchange membership regulation Wan Wei Yiong said BEI had asked exchange members to prepare an online trading supervisory system to prevent manipulations.
"Several members have developed transactions supervisory system for active online trading. A member that has prepared the system is Indopremier Securities and E-trading," he said.
Investment banking director of OSK Nusadana Securities, Mardy Sutanto, said the online trading facility could increase competition among members as more securities companies are ready to provide the facility for their customers. He added the facility could also increase service to customers and he hoped it could also increase the number of his customers.
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