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Jakarta Stock Exchange

Updated on October 2, 2022 , 331 views

Jakarta Stock Exchange (JSX) or Busra Efek Jakarta (BEJ) is the leading stock exchange in Jakarta, Indonesia. Later on, it merged into the Surabaya Stock Exchange. It led to the formation of Indonesia Stock Exchange.

History of Jakarta Stock Exchange

Originally launched in the year 1912, Jakarta Stock Exchange was formed under the colonial government of the Dutch. It reopened in the year 1977 after multiple closures during both the world wars. After its reopening in the year 1977, the given exchange came under the management of the Capital Market Supervisory Agency. The given agency was responsible for answering to the Ministry of Finance.

Jakarta Stock Exchange

Market capitalization and trading activity started growing alongside the development of the private sector and financial markets of Indonesia. The same was highlighted by the major bull run that occurred in the year 1990. In the year 1992, the exchange received privatization while being run by Jakarta Exchange Inc. Because of this, Bapepam’s functions had changed to form the Capital Market Supervisory Agency. On 22nd March 1995, JSX went forward with launching JATS or Jakarta Automated Trading System. In the year 2007, Surabaya Stock Exchange and Jakarta Stock Exchange went on to merge while forming the Indonesian Stock Exchange under the Ministry of Finance in Indonesia.

Stock Indices

Two major stock market indices are utilized for measuring as well as reporting value changes in stock groupings. These are the JII or Jakarta Islamic Index and the JSX Composite. The JII was set up in the year 2002 and aimed at serving as the benchmark in activities related to the market. It was based on the Sharia or Islamic Law. On the JII, currently, there are as many as 30 corporate stocks that are listed. The indices have been designed by making use of the international standards and are based on the ICB (Industry Classification Benchmark).

Merger

Both SSX (Surabaya Stock Exchange) and JSX (Jakarta Stock Exchange) are in combination to form the Indonesia Stock Exchange.

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The IDX or Indonesia Stock Exchange aims at becoming an acknowledged and credible world-class stock exchange. In the 2019 Annual Report, the strategic plans of the IDX were aimed at achieving the following:

  • Becoming the center of securities for support & trading for the Capital Markets in Indonesia
  • Increasing the number of exchange members along with the participation of the respective investors
  • Increasing the overall quantity as well as the quality of the listed companies
  • Continuing developmental improvements in the overall infrastructure of the given exchange

In the year 2019, IDX was successful in increasing the overall number as well as participation from the investors. This helped in setting an all-new record of over 27 years in the stock exchange market. The IDX observed an increase in both the quality as well as quantity of the listed companies.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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