September 1, 2026 | 04:54 pm
TEMPO.CO, Jakarta - The President Director of the Indonesia Stock Exchange (IDX), Jeffrey Hendrik, is optimistic that global index providers (MSCI and FTSE) will respond positively to the adjustment of the minimum price limit for shares traded on the regular and cash markets from the current Rp50 per share to Rp1 per share.
He said this confidence was reflected in the positive response from market players during the socialization and trial of the adjustments, which were conducted on August 22 and 29, 2026.
"Starting with our focus group discussions (FGDs), we then conducted outreach to stakeholders, and the feedback we received was very positive. This means that if the feedback from stakeholders is very positive, we certainly hope that MSCI, FTSE, and other global index providers will also respond positively," Jeffrey said in an interview with reporters at the IDX Building in Jakarta on Tuesday, as quoted by ANTARA.
However, he revealed that the regulatory adjustments regarding the minimum share price limit were not communicated to global index providers.
In response to the concerns of global index providers, the IDX previously submitted proposals regarding eight Action Plans for the Acceleration of Indonesian Capital Market Reform.
"But now, of course, we're already implementing market reforms, not just to address MSCI's concerns, but also to do what's best for our market. We're not just providing transparency and good governance, but also liquidity and, of course, good price discovery," Jeffrey said.
He said that the trial period for adjusting the minimum share price limit from Rp50 to Rp1 per share in the regular and cash markets was generally quite successful. Eighty-three Exchange Members (ABs) expressed readiness, while eight ABs did not participate.
"So, we are currently in intensive communication with Exchange Members who are not yet ready, and we will provide them with assistance. We are aiming for 'going live' in the third or fourth week of September (2026). We will be waiting for all Exchange Members to be ready," said Jeffrey.
The IDX conducted a trial with Exchange Members on August 22 and 29, 2026, to adjust the minimum share price limits in the regular and cash markets, as well as a new "auto-rejection" classification. The change in the minimum price limit allows shares currently at the Rp50 level to be traded within a wider price range.
The IDX also estimates that the frequency and value of transactions could increase by around 2-3 times if shares on the Special Monitoring Board and currently traded through "call auctions" could enter the regular market through a "continuous auction" mechanism.
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