JAKARTA (TheInsiderStories) - Self Regulatory Organization (SRO) targeting to established a securities financing, PT Pendanaan Efek Indonesia (PEI) in the first quarter of 2017, said Indonesia Stock Exchange’s (IDX) president director. IDX own 34 percent of PEI’s shares, Indonesia Clearing Guarantor Effect and and Indonesia Central Securities Depository 33 percent each.
President Director of Tito Sulistio said PEI will have a paid-up capital of Rp 1 trillion. In the early stages, SRO will deposited Rp 250 billion. Later, He added, the new institution will disburse loans for margin requirements to securities transactions that have the margin trading facility.
According to him, PEI will provide a loan of Rp 100 billion for each of the securities exchange members. In addition, the securities are required to have a net working capital adjustment of at least Rp 250 billion.
Tito says, there are 30 securities house which have Adjusted Net Working Capital above Rp 250 billion and 40 securities companies can obtain financing margin. So far, only 60 stocks, including shares LQ45 index, which may be traded using margin trading and with the presence of PEI, is expecting the number of shares will be increased to 200 shares.
President Director of Indonesian Clearing and Guarantee Corporation (KPEI) Fawzi Hasan adding, there is currently a lot of margin securities transactions. Understandably, the capital of a number of securities companies is still limited, making it difficult to give loans for margin transactions.
Hasan said, this may be due to the limited ability of the company’s capital stock and the margin stock list. The relaxation margin transactions by the IDX and the presence of PEI is expected to make a number of customers rose margin.
The average margin for this transaction Rp 6 trillion per day. With the additional funds of Rp 1.5 trillion, then the transaction will occur later on margin Rp 7.5 trillion per day in the next year, said Hasan.
Tito hoped that the presence of PEI also make stock trading liquidity of the overall rise. “In PEI, the daily transaction is targeted to grow 25% compared to the average daily transaction at this time,” he said.