JAKARTA (TheInsiderStories) – The Indonesia Stock Exchange (IDX) released an Electronic Trading Platform (ETP) for bond and SUKUK (EBUS) in the secondary market called the Alternative Market Management System. The new trading system is a further form of the existing ETP in 2016.
“The (new platform) has been designed in such a way as to accommodate the needs of EBUS market players in Indonesia, with the hope of increasing liquidity and efficiency in the market,” said the development director at IDX, Hasan Fawzi, in a virtual seminar on Monday (11/09).
To date, 20 companies have become the users, 17 of whom are part of the main dealers for the government bond. According to IDX’ director, Laksono Widodo, the formation of ETP is in line with the Financial Services Authority regulation Number 8 of 2019 concerning Alternative Market Operators.
In 2021, the IDX targets EBUS transactions in the secondary market through SPPA to reach Rp1.2 trillion (US$85.71 million). The target amount for daily transactions is around 3 percent of the total transactions of EBUS, which are estimated to reach Rp36 trillion.
Referring to the official data, this year’ EBUS transaction target is targeted at Rp33.10 trillion, consisting of IDR 31.32 trillion for daily transactions of SBN (government securities, including sharia) and IDR 1.77 trillion for daily transactions of corporate bonds (including corporate sukuk. ).
Along with the soft-launching of the new platform, on the first trading on Monday, there have been 22 transactions with a value of up to Rp300 billion involving at least 20 participants. Some of those conducting EBUS transactions today include PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Central Asia Tbk (IDX: BBCA), ANZ, JP Morgan, DBS, PT Bank Permata Tbk (IDX: BNLI), PT Maybank Indonesia Tbk (IDX: BNII), PT Bank Panin Tbk (IDX: PNBN) to IDX’ member securities companies to Korea Investment & Indonesian Securities.
In addition to the EBUS rule, the regulator also issued four new regulations like the determination of tradable Securities, trading regulation, user regulation, and trading surveillance regulation. With such a reliable system and new regulations, the alternative market players is expected to be able to conduct bond and SUKUK trading in the secondary market in an orderly, fair and efficient manner also can support the creation of a more efficient and liquid both market.
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