13 December, 2018
The Financial Services Authority (OJK) has issued OJK Rule No. 21/POJK.04/2018 on Settlement Period of Stock Exchange Transactions (Rule) which aims to, among other things, accelerate capital reinvestment, improve operational efficiency, and reduce liquidity risks in the capital market sector.
Under the Rule, which came into effect on 21 November but was implemented by the Indonesia Stock Exchange (IDX) starting from 26 November, settlement of IDX transactions in regular market must be done at the latest on the second exchange day or T+2 after the transaction occurs.
For further information, please contact:
Iqbal Darmawan, Partner, Baker & McKenzie
iqbal.darmawan@bakermckenzie.com
