VIVAnews - The Indonesian Stock Exchange will still apply new regulation on margin share and short selling by early May 2009. The IDX cannot wait until all members of the stock exchange are ready to apply the new system.
Stock authority cannot revise the schedule if it does not acquire new order or regulation from the Capital Market and Financial Institution Supervisory Agency.
IDX Director of Stock Trading, Research and Business Development, MS Sembiring, said the stock authority did not intend to delay its plan of applying the new regulation on margin and short selling.
"We are awaiting Bapepam to issue new regulation," said Sembiring at the IDX office on Tuesday, April 7.
He revealed that his party had received a proposal concerning transaction delay on margin share and short selling from the Association of Indonesian Securities Companies (APEI). In the proposal, APEI requested IDX to review the new regulation due to tight margin list.
Sembiring said the stock authority cannot wait any longer until every member of stock market is ready. In addition, not every stock members joining margin transaction or short selling.
"Let us see what we can accommodate," he said.
In fact, he said, APEI did not pin on a certain limit about margin transaction and short selling application.
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Translated by: Bonardo Maulana Wahono
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