VIVAnews - The Indonesian Stock Exchange (IDX) will start to apply a new auto rejection system by the end of this week.
"The [auto rejection] applied for normal condition is still referring to capital market situation prior to the financial crisis," said IDX President Director Erry Firmansyah on Monday, Jan 12.
Auto rejection is automatic bounce over share increase/decrease exceeding the set maximum/minimum limit.
According to Firmansyah, the auto rejection system, which will apply new parameters, is expected to take place by the end of this week. "Hopefully, the value will be set up [by 16 January 2009]. Hopefully, it can be implemented this week," said Firmansyah.
For the time being, the IDX auhorities still apply a ceiling auto rejection limit of 20 percent and floor limit of 10 percent. IDX took the decision because the capital market is likely to be affected by the crisis.
Translated by: Bonardo Maulana Wahono
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