BEI Implements New Trading Rules for Indonesia Stock Market

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- The Indonesia Stock Exchange (BEI) has officially announced new trading regulations for the country's stock market. These changes will not only normalize trading hours, but also auto rejection rules.

According to a recent announcement made by the exchange authority on Friday (31/3/2023), symmetrical auto rejection will be reinstated. This policy is similar to the pre-pandemic rules for Covid-19.

"Adjustments to the percentage limit of the Bottom Auto Rejection will be gradually made with implementation that considers future market conditions," BEI wrote in its announcement.

Changes will also occur in short selling transactions, where BEI will re-issue the list of securities that can be traded through short selling via the Exchange Announcement, which will be effective on Monday, April 3, 2023.

Regarding short selling transactions, BEI will further process requests from Exchange Members (EM) who apply to the Exchange as Stock Exchange Members who are allowed to conduct short selling transactions.

Furthermore, the rules on price benchmarks and bargaining prices in the Regular Market and Cash Market will remain the same as the current regulations. While the rules on Securities Trading Hours through Alternative Market System (SPPA), and Securities Transaction Report Submission Time through the Securities Transaction Report Receiver System (PLTE System) remain unchanged. All of them refer to the operational time for settlement of government securities at Bank Indonesia (BI).

Therefore, BEI stated that it "revokes the Relaxation Policy of Financial Report and Annual Report Submission Deadlines for Listed Companies and Issuers, which began to apply to Financial Reports for the 2022 period, and is effective as of March 31, 2023."

The revocation also applies to the regulation of Relaxation of Daily and Monthly Report Submission Deadlines for Stock Exchange Members. This will be effective as of April 3, 2023.

Phase I, effective from June 5, 2023

Phase II, effective from September 4, 2023 with symmetric auto rejection rules:

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