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Saturday, January 16, 2010

LQ-45 index decided not include in margin rules

the latest photo of Nurhaida, Securities Transaction and Institution Bureau Chief of Bapepam-LK

BI / bursa
By Irvin Avriano A.
Bisnis Indonesia

LQ-45 index decided not include in margin rules

JAKARTA: Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) decided not to include the proposed Association of Indonesian Securities Companies (Asosiasi Perusahaan Efek Indonesia/APEI) of LQ-45 index in margin transactions rules.

The previous regulations that are intended to revised are market rules Number II-H about the Terms of Trade and Securities in Margin Transactions and Transactions Short Selling and the Number I-III rules about Membership and Short Selling Margin.

Securities Transaction and Institution Bureau Chief of Bapepam-LK Nurhaida said the not accepted LQ-45 is associated with capital market conditions and the economy that causes more and more liquid stocks. In addition, he said, the fundamental stock issuers also become strong.

APEI proposed that LQ-45 becomes the reference for the turn of the old stock listings, for six months, and it is more than a stock that can enter into the margin requirements.

According Nurhaida, conditions are not worried as last year and in 2008 it made the illiquid stocks and make stronger financial fundamentals. Liquidity and fundamental improvement can make the stock into the qualifications for entry into the list and increased the collection of margin stock.

"Now it's getting better, we are optimistic for more stock into the lists and can be enjoyed by investors for margin trading," he told the press yesterday.

In addition, he said, others APEI proposals about margin-stock baskets was also considered not be include into the rules. He explain the exclusion of some of the proposals made the capital market players and investors continue to use regulations that have ratified by the stock market authorities in the capital last year.

Coordinator of the APEI Chairman Committee Lily Widjaja when asked for comments can't say much because it is still reviewing the results of studies that the capital market authority has done.

"We're going to discuss it with the association and the members first."

Nurhaida also explained Bapepam-LK also make regulations about the membership of the stock into one of the authority's priorities and is still in discussion stage.

"We are hoping to get it over with, maybe in the quarter I [be published]."

With these possibilities, the auction of letters of approval exchange member (surat persetujuan anggota bursa/SPAB) potential to be held back after a quarter of I. Nurhaida added, securities companies from abroad who want to become members of the stock market must first enroll in Bapepam-LK, or become one of the major investors of the stock of the old members.



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