Indonesia Stock Exchange (IDX)
The Indonesia Stock Exchange, the result of a merger between Surabaya Stock Exchange and Jakarta Stock Exchange, is the primary equity market in Indonesia.
Currency: Indonesian Rupiah (IDR)
Limit Buy/Sell→ShortSell (Day)
Basic Market Rules
Lot Size: 500 shares.
Tick Size: varies by price, as follows:
Price RangeTick Size
Rp 500Rp 1
Rp 500 - 5,000Rp 5
> Rp 5,000Rp 25
Short Sale Rules: naked short selling is prohibited. A short locate must be obtained and all short sell orders must be properly marked.
Circuit Breakers: as follows:
FirstIf the IDX composite index falls by 10% from the previous day's closeAll trading in listed securities will be halted for 30 minutes
SecondIf the IDX composite index falls by 15% from the previous day's close (i.e., by another 5%)Trading in all listed securities will be suspended until the closing time of that session, or more (given approval by Indonesia's Financial Services Authority)
Both the opening and closing auction mechanisms in Indonesia operate by matching all open orders on a price-time priority basis.
Pre-Opening Session: orders can be entered from 08:45:00 - 08:55:00, with order matching occurring from 08:55:01 - 08:59:59 ahead of the market open at 09:00:00.
Continuous Auction: matching selling offer against buying demand entered in pre-closing session from 15:50:00 to 16:00:00 using price-time priority.
The closing price is based on the best price and largest volume of shares matched.
Pre-Closing Session: 15:50:00 - 16:00:00 - securities exchange member to input selling offers or buying demand
Closing Auction: 16:00:01 - 16:04:59 - JATS performs the incurred formation process of Closing Price and performs matching auction continuously selling offer against buying demand on Closing Price based on price-time priority
Order Types: Limit Order with TIF set to DAY.