I D X
F A C T
B O O K
2 0 0 8
Abbreviation
BAPEPAM-LK: Badan Pengawas Pasar Modal – Lembaga Keuangan
(Securities The Capital Market and Financial Institution Supervisory Agency)
IDX : Indonesia Stock Exchange
KPEI : Kliring Penjamin Efek Indonesia
(The Indonesian Clearing and Guarantee Corporation)
KSEI : Kustodian Sentral Efek Indonesia
(The Indonesian Central Securities Depository)
© 2008 Indonesia Stock Exchange. All rights reserved
-500
1,000
1,500
2,000
2,500
3,000
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
-500
1,000
1,500
2,000
2,500
3,000
Jakarta Composite Index and Capital Market Milestones
1984 - June 2008
16-Jun-1989 Establishment of SSX 293.548
13-Jul-1992 Privatization of JSX 321.544
1-May-1995 JATS 415.322 24-Jul-1995 Merging process of SSX into Bursa Paralel Indonesia 509.532
8-Aug-1996 Founding of KSEI 548.181
23-Jul-1997 Financial Crisis 718.189
23-Dec-1997 Founding of KPEI 397.031
21-Jul-2000 Scripless Trading 512.617
28-Mar-2002 Implementation of
Remote Trading 481.775
6-Oct-2004 Lauching of Stock Option
856.060
30-Nov-2007 Consolidation of the SSX into JSX to become the IDX 2,688.332
9-Sep-2002 T+4 to T+3 Settlement 430.271
3,000
2,500
2,000
1,500
1,000
500
3,000
2,500
2,000
1,500
1,000
500
Jakarta Composite Index and Capital Market Milestones
1984 – June 2008
TABLE OF CONTENTS
Page
IDX COMPOSITE STOCK PRICE INDEX 1984 – MAY 2008
IDX STATISTICAL HIGHLIGHTS
...1
50 LEADING COMPANIES IN MARKET CAPITALIZATION
...3
50 MOST ACTIVE STOCKS BY TRADING VOLUME
...4
50 MOST ACTIVE STOCKS BY TRADING VALUE
...5
50 MOST ACTIVE STOCKS BY TRADING FREQUENCY
...6
50 MOST ACTIVE IDX MEMBERS IN TOTAL VOLUME
...7
50 MOST ACTIVE IDX MEMBERS IN TOTAL VALUE
...8
50 MOST ACTIVE IDX MEMBERS IN TOTAL FREQUENCY
...9
OVERVIEW OF INDONESIA STOCK EXCHANGE IN 2007
...
10
MERGER
...10
The Background of the Merger between the JSX - SSX
...10
The Merger Process
...10
Technical
Issues
...11
IDX PERFORMANCE IN 2007
...11
Trading
Performance
...11
Stock
Market
...11
Corporate
Bonds
...11
State
Debentures
...11
Derivatives
Market
...12
IDX
ACHIEVEMENTS
...12
Completion of the Regulations and Trading System
...12
The Developments of the Exchange Members
...12
E-Reporting
...12
New
Products
...12
Corporate Social Responsibility
...12
TRADING SYSTEM
...
13
EQUITY
TRADING
...13
Order-Driven Market and Open-Auctin System
...13
Jakarta Automated Trading System (JATS)
...13
Trading
Process
...13
Market
Segmentation
...14
Trading
Schedule
...15
Auto
Rejection
...15
Regular Market and Cash Market
...16
Pre-Opening
System
...16
Negotiation
Market
...17
Margin
Trading
...18
BOND
TRADING
FACILITIES
...19
CTP (Centralized Trading Platform)
...19
FITS (Fixed Income Trading System)
...19
Exchange Traded Process
...20
Term and Conditions for Regular & Negotiation Transactions
...20
Exchange Trade Settlement
...20
FATS (Future Automated Trading System)
...21
ETF (EXCHANGE TRADED FUND)
...21
SETTLEMENT
...21
TRANSACTION
FEES
...21
Transaction Fees for Equity Trading
...21
Transaction Fees for Bond Trading
...22
FOREIGN INVESTOR INVOLVEMENT
...22
NUMBER OF LISTED SHARES, MARKET CAPITALIZATION AND TRADING
... ...23
GOING PUBLIC AND LISTING ON THE IDX
...
31
PREPARATION FOR GOING PUBLIC
...31
REGISTRATION AT BAPEPAM-LK
...31
LISTING IN THE INDONESIA STOCK EXCHANGE
(IDX)
...32
General Terms of Listing
...32
Listing Requirements for Stocks & Bonds
...33
Procedures for Stock Listing at the Main and Development Board
...35
Requirements of the Listing of Additional Shares
...35
Transfer of Board
...36
Listing Requirements for ETF
...36
LISTING
FEES
...36
Listing Fee for Shares
...36
Listing Fee for Bonds
...37
Listing Fee for ETF
...38
STOCK EXCHANGE REPORTING REQUIREMENTS
...38
Reporting Requirements for Share & Bond Listing Company
...38
Reporting Requirements for ETF
...39
IDX e-Reporting & Monitoring System
...40
Suspend
...40
Sanctions
...40
Sanctions for Share & Bond Issuing Company
...40
Sanctions
for
ETF
...41
DELISTING
...41
Delisting of Shares & Bonds
...41
Delisting of ETF
...42
Voluntary
Delisting
...42
Delisting
by
IDX
...42
RELISTING
...42
INITIAL PUBLIC OFFERINGS, 2007 – May 2008
...43
DELISTED
COMPANIES
...45
RIGHTS OFFERINGS, 2007 – May 2008
...45
FINANCIAL DATA & RATIOS 2007
...46
NAME CHANGES OF LISTED COMPANIES
...54
JAKARTA STOCK INDUSTRIAL CLASSIFICATION (JASICA)
...55
GOALS
...55
STRUCTURES OF JASICA
...55
THE SYSTEMATICS OF JASICA
...57
STOCK PRICE INDEX
...
58
COMPOSITE STOCK PRICE INDEX (CSPI)
...58
Index Calculation Method
...59
SECTOR
INDICES
...59
LQ45
INDEX
...60
JAKARTA ISLAMIC INDEX (JII)
...60
KOMPAS100
INDEX
...61
MAIN BOARD INDEX (MBX) AND DEVELOPMENT BOARD INDEX (DBX)
...61
Listing Board Classification
...61
INDIVIDUAL
INDEX
...62
INDONESIAN
GOVERNMENT BOND INDEX (IGBX)...
62
INDONESIAN GOVERNMENT SECURITIES YIELD CURVE (IGSYC)...
62
DERIVATIES
...64
STOCK
OPTION
...64
Criterias of an Underlying Stock
...64
General Information Related to Option Trading
...64
Type in Stock Option Contract
...64
Issuance of a Stock Option Series
...64
Coding in Stock Option Series
...65
The Schedule of Option Trading
...66
Weighted Moving Average Price (WMA)
...66
Sell and Purchase Orders
...66
Trading Unit & Premium Fraction
...66
Termination of a Single Stock Option Series
...66
Interval (Strike Price Range)
...67
Bid-Offer and the Exchange Transaction
...67
Exercise, Automatic Exercise & Liquidation
...67
Suspension of the Stock Option Trading
...67
Transaction
Fees
...67
STOCK OPTION TRADING ACTIVITIES
...69
IDX MEMBERS FOR STOCK OPTION
...69
LQ45
FUTURES
...70
EXCHANGE MEMBERSHIP & PARTICIPANTS
...
71
SECURITIES COMPANY AND EXCHANGE MEMBERS REQUIREMENT
...71
MINIMUM NET ADJUSTED WORKING CAPITAL (NAWC) REQUIREMENT
...71
OTHER REPORTING OBLIGATIONS FOR EXCHANGE MEMBERS
...72
PARTICIPANTS
REQUIREMENT
...72
PARTICIPANT’S
TRANSACTION REPORTING OBLIGATIONS
...72
CHANGES IN MEMBERS COMPANIES NAMES
...73
LIST OF PARTICIPANTS
...73
APPENDIX
...
74
LISTED
COMPANIES
...75
LISTED
CORPORATE
BONDS (as of May 2008)
...108
LISTED GOVERNMENT BONDS (as of May 2008)
...121
THE INDONESIA STOCK EXCHANGE MEMBERS
...123
SECURITIES ADMINISTRATION BUREAU
...134
PUBLIC ACCOUNTANT REGISTERED WITH BAPEPAM-LK
...135
LEGAL ADVISOR REGISTERED WITH BAPEPAM-LK
...143
CIVIL LAW NOTARIES REGISTERED WITH BAPEPAM-LK
...155
APPRAISAL COMPANY REGISTERED WITH BAPEPAM-LK
...178
CUSTODIAN BANK REGISTERED WITH BAPEPAM-LK
...181
TRUST
AGENCY
...182
RATING
AGENCY
...183
ORGANIZATION
CHART
...184
CAPITAL MARKET INFORMATION CENTRE
...185
F
ACT
BOOK 2008
1
TRADINGTrading Days
Total Trading Volume of Shares (Million Shares)
Total Daily Average
Total Trading Value of Shares (Rp Billion)
Total Daily Average
Total Trading Frequency of Shares
Total (thousand) Daily Average
Foreign Transaction of Shares
BUY
Volume (Million Shares) Value (Rp Billion) Frequency (Thousand) SELL
Volume (Million Shares) Value (Rp Billion) Frequency (Thousand)
NET PURCHASE BY FOREIGNERS
Volume (Million Shares) Value (Rp Billion) Frequency (Thousand)
Local Transaction of Shares
BUY
Volume (Million Shares) Value (Rp Billion) Frequency (Thousand) SELL
Volume (Million Shares) Value (Rp Billion) Frequency (Thousand)
Total Trading Value of (Rp Billion)
Warrant Right Certificates ETF
Option (KOS)
Government Bond (Rp) Corporate Bond (Rp) Corporate Bond (USD) Total Value of Transactions
JAKARTA COMPOSITE INDEX
High Low Close
Active Stocks
0 6 2 4
2,123 6,516 1,526 1 226 30 66 237 403 5
2007 Q1-2008
IDX STATISTICAL HIGHLIGHTS
242
2002 2003 2004 2005 2006
243
335 337 332 336
1,805.523 2,745.826 2,447.299
339 372 347 424.945 691.895 1,000.233
994.770 1,162.635
1,171.709 1,678.044 2,294.524 337.475 379.351 668.477
1,805.523 2,810.962 2,830.263 137,692 352,999 531,171
551.607 693.033 1,004.430
545,634
1,192.203
14,133
751,373 1,150,325 262,302
2 9 14
521,005
23,947 33,184 68,572 130,954 337,664 512,989
6,092 14,244 17,347
- 2 0.2
715,827 1,074,812 246,582 - - 0.3
3,472
0.1 644 858 802 613
-
4,320 11,078 2,949 3,036 2,745 3,199
321,132
233,569 322,474 838,958 164,492 207,410 342,720
115,070 95,182 155,059
4,229 10,988 3,000
369,303 932,281 159,722 3,010 2,687 3,167
248,987 3,428
305,202 806,351 238,962 107,157 85,305 136,245
44
293,194 343,853 894,112 26 58 32
161,711 197,885 318,774
17,271 32,607 152 91 90 -51 7,912 9,877 18,814
27,938 -15,418
25,451 38,170 -529 2,781 9,524 23,946
172,437
540 490 783 5,694 30,256 91,948
56 209 525
67,632 107,261 36,299 123,235 211,196 78,332 6,751 26,621 69,048
584
80,736
582 874 82 266 557
108,674
157,019 140,506 243,803 9,532 36,145 92,994
13,607 40,133 110,762
19,880 48,216 58,390
93,083 145,431 35,770 12,621 12,203 15,452 16,510
445,708
4,811 4,012
3,092 2,953 3,724
3,439 1,050,154 317,446 1,025 4,226 1,806 1,709 1,654 247,007 406,006 4,269 5,569 78,484 379 160,251 11,861 3,328 328 239,114 1,039,542 196,021 57 246 1,671 699 241 242 245 1,842 967 493 518 125,438
171,207 234,031 411,768 401,868 436,936
120,763
F
ACT
BOOK 2008
2
2007 Q1-2008
IDX STATISTICAL HIGHLIGHTS
2002 2003 2004 2005 2006
As of the End of Period
EQUITIES
Listed Companies Listed Shares (Million )
New Issues
Company(s)
Shares Offered (Million Shares) Amount Raised (Rp Billion) Delisted Company(s)
Market Capitalization (Rp Billion)
WARRANTS
Listed Issuers Listed Warrant
Market Capitalization (Rp Billion)
GOVERNMENT BOND
Number of Listed Series Outstanding Value (Rp Billion)
CORPORATE BOND
Listed Issuer
Number of Listed Bond (Series) Outstanding Value (Rp Billion)
CORPORATE BOND (USD)
Listed Issuer
Number of Listed Bond Outstanding Value (Million USD)
RIGHTS ISSUES (based on ex dated)
Listed Issuers
Fund Raised (Rp Billion)
Brokerage Houses
Active Brokerage Houses
Brokerage Stocks Trading (Rp Billion)
US $ Rate (Rp at end of period)
- 105 105 105 105 105 100 84,071
2 2 1
55 92 107 105 101 102 107
9,025 9,419 9,217
8,905 8,447 9,355 9,840
117 241,526 250,875 494,014 812,013 891,416 2,100,309 634,892
142 125 121 123
124
182 153
186 158 144 126
7,315 4,494 3,910 5,893 13 12 16 13
79,065 238 244 61,505
21,738
- 2 2
45,390 58,791 57,762
2
418,751 477,747 4,169 397,967 389,910 397,161 399,859
69
51 52 48 49 57 65
5,423 11,284 6,148 34 24
475 861 724 855
1,802,059
33 43 56 48
62 57 48
37 42 3
801,253 1,249,074 1,988,326
7 4 15
268,423 460,366 679,949
1,819
4 8 2
3,983
3,545 3,005 16,868 3,373 10,650 7,443
1,116 9,504 2,141
6 20,596 25,699 2,516 712,985
8 12 22 939,545 829,360 656,447
22 6 12
383 387 924,489 1,128,174 1,271,618 336 344
331 333 331
6
122
12,583 29,498 23 17
45,549
122
30 24 26
245 254 260
- 2 2 2 2 2 1
F
ACT
BOOK 2008
3
Telekomunikasi Indonesia TbkBumi Resources Tbk Astra International Tbk International Nickel Ind .Tbk Bank Rakyat Indonesia Tbk
Bank Central Asia Tbk Bank Mandiri (Persero) Tbk Perusahaan Gas Negara Tbk H M Sampoerna Tbk Unilever Indonesia Tbk
Indosat Tbk
Astra Agro Lestari Tbk Aneka Tambang (Persero) Tbk Bank Danamon Tbk
Semen Gresik (Persero) Tbk
United Tractors Tbk
Indocement Tunggal Prakasa Tbk Bank Negara Indonesia Tbk Tambang Batubara Bukit AsamTbk Indofood Sukses Makmur Tbk
Energi Mega Persada Tbk Indo Tambangraya Megah Tbk Truba Alam Manunggal E. Tbk SMART Tbk
Medco Energi International Tbk
Gudang Garam Tbk Excelcomindo Pratama Tbk PP London Sumatera Tbk Timah Tbk
Global Mediacom Tbk
Bank International Ind. Tbk Bank Pan Indonesia Tbk Holcim Indonesia Tbk Jasa Marga (Persero) Tbk Kalbe Farma Tbk
Bakrieland Development Tbk Lippo Karawaci Tbk Media Nusantara Citra Tbk Berlian Laju Tanker Tbk Bank Niaga Tbk
Darma Henwa Tbk
Bakrie Sumatra Plantations Tbk Bank Lippo Tbk
Bakrie Telecom Tbk Central Proteinaprima Tbk
Bakrie & Brothers Tbk Bhakti Investama Tbk Barito Pacific Tbk Bank Permata Tbk Bank UOB Buana Tbk
Total 50 Shares Market Total
Listed Shares (Million) Market Capitalization (Rp Billion)
Company Name
50 LEADING COMPANIES IN MARKET CAPITALIZATION
No.
2. BUMI 116,424 5.86% 120,305 6.68% 19,404 19,404
10.80% 194,544
10.29% 20,160
4,048
3. ASII 110,520 5.56% 98,173 5.45% 4,048
4. INCO 95,637 4.81% 69,554 3.86% 994 9,936
5. BBRI 90,273 4.54% 76,868 4.27% 12,199 12,201
6. BBCA 89,131 4.48% 79,327 4.40% 12,210
7. BMRI 72,110 3.63% 64,900 3.60% 20,603
8. PGAS 69,687 3.50% 64,997 3.61% 4,540
9. HMSP 62,677 3.15% 56,979 3.16% 4,383
10. UNVR 51,503 2.59% 52,647 2.92% 7,630
11. ISAT 47,004 2.36% 38,581 2.14% 5,434
12. AALI 44,093 2.22% 40,707 2.26% 1,575
13. ANTM 42,685 2.15% 31,954 1.77% 9,538
14. BDMN 39,860 2.00% 34,457 1.91% 4,982
15. SMGR 33,217 1.67% 29,658 1.65% 5,932
16. UNTR 31,083 1.56% 35,788 1.99% 2,852
17. INTP 30,186 1.52% 25,953 1.44% 3,681
18. BBNI 29,789 1.50% 21,018 1.17% 15,121
19. PTBA 27,650 1.39% 23,157 1.29% 2,304
20. INDF 24,319 1.22% 21,958 1.22% 9,444
21. ENRG 21,457 1.08% 16,273 0.90% 14,401
22. ITMG 21,356 1.07% 23,163 1.29% 1,130
23. TRUB 19,849 1.00% 12,980 0.72% 13,978
24. SMAR 17,233 0.87% 27,142 1.51% 2,872
25. MEDC 17,162 0.86% 11,080 0.61% 3,332
26. GGRM 16,355 0.82% 14,719 0.82% 1,924
27. EXCL 15,421 0.78% 14,712 0.82% 7,090
28. LSIP 14,533 0.73% 12,213 0.68% 1,365
29. TINS 14,445 0.73% 14,571 0.81% 503
30. BMTR 14,433 0.73% 10,174 0.56% 13,746
31. BNII 13,726 0.69% 22,482 1.25% 48,162
32. PNBN 13,569 0.68% 12,793 0.71% 19,955
33. SMCB 13,410 0.67% 9,195 0.51% 7,663
34. JSMR 12,920 0.65% 9,520 0.53% 6,800
35. KLBF 12,797 0.64% 9,953 0.55% 10,156
36. ELTY 12,166 0.61% 10,321 0.57% 19,622
37. LPKR 11,938 0.60% 13,842 0.77% 17,302
38. MNCN 11,138 0.56% 8,663 0.48% 13,750
39. BLTA 11,021 0.55% 9,408 0.52% 4,159
40. BNGA 11,017 0.55% 9,231 0.51% 12,241
41. DEWA 10,352 0.52% 6,698 0.37% 15,224
42. UNSP 8,617 0.43% 6,743 0.37% 3,788
43. LPBN 8,432 0.42% 7,210 0.40% 3,877
44. BTEL 7,961 0.40% 6,750 0.37% 18,954
45. CPRO 7,889 0.40% 4,891 0.27% 18,346
24,408 20,603 4,593 4,383 7,630 5,434 1,575 9,538 4,994 5,932 2,852 3,681 15,121 2,304 9,444 14,401 1,130 15,270 2,872 3,332 1,924 7,090 1,365 503 13,749 48,348 19,989 7,663 6,800 10,156 19,847 17,302 13,750 4,589 12,308 15,224 3,788 3,877 19,853 18,455 7,236 46. BNBR
47. BHIT 7,598 0.38%
6,877 0.38% 7,821 0.39% 6,976 0.39% 0.34% 3,546 0.20% 10,749 0.60%
49. BNLI 6,822
48. BRPT 7,329 0.37%
50. BBIA 6,784 0.34% 0.40% 6,587
13,485 7,236 6,980 7,666 6,587 2,617 26,970 7,666 498,449 1,128,174 513,781 1,210,195 1. TLKM 2008 (March) 2007 % From Total 2008 (March)
2007 % From
F
ACT
BOOK 2008
4
Bakrie & Brothers Tbk Bakrieland Development Tbk Bank International Ind. Tbk Central Korporindo Int l Tbk Central Proteinaprima Tbk
Bumi Resources Tbk Sierad Produce Tbk Bakrie Telecom Tbk
Kawasan Industri Jababeka Tbk Truba Alam Manunggal E. Tbk
Polysindo Eka Perkasa Tbk Bank Niaga Tbk
Mitra Investindo Tbk Bank Mandiri (Persero) Tbk Energi Mega Persada Tbk
Mobile-8 Telecom Tbk New Century Development Tbk Tunas Baru Lampung Tbk Panin Life Tbk
AGIS Tbk
Bank Century Tbk
Aneka Tambang (Persero) Tbk Multipolar Tbk
Bank Negara Indonesia Tbk Bumi Teknokultura Unggul Tbk
Metrodata Electronics Tbk Darma Henwa Tbk Inti Agri Resources Tbk Multistrada Arah Sarana Tbk Bakrie Sumatra Plantations Tbk
Sentul City Tbk Lippo Securities Tbk
Indofood Sukses Makmur Tbk Hanson International Tbk Bhakti Investama Tbk
Ciputra Development Tbk Telekomunikasi Indonesia Tbk Budi Acid Jaya Tbk
Medco Energi International Tbk Davomas Abadi Tbk
Barito Pacific Tbk
Bhuwanatala Indah Permai Tbk Media Nusantara Citra Tbk Trimegah Securities Tbk
Tambang Batubara Bukit AsamTbk
Bank Pan Indonesia Tbk Total Bangun Persada Tbk Kalbe Farma Tbk Holcim Indonesia Tbk Indo Acidatama Tbk
Total 50 Stocks % of Total Market Total 19,529 2,784 7,192 10,669 Volume (Mill.) Stock Name 5,011 4,945 6,101 6,043 87,685 59,821 49,932 36,095 35,990 35,445 31,574 29,578
146,915 201,205 1,871 836,550 681,951 7,130
8.43 Trad. Day 1. BNBR Volume (Mill.) 24,981 CODE No. 54 71 8,510 Value (Bill. Rp) 36 56 57 44 57 57 57 80.47 64.94 1,039,542 1,050,154 11,861
60.11 57 57 57 57 106 1 856 24 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 55 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57 57
50. SRSN 4,693 0.45 1,178 44 226
1,353 15 69 246 1,263 593 282 59 4,787
48. KLBF 0.46
49. SMCB 4,723 0.45 4,617
6,169
91 246 175
246
11 378
47. TOTL 4,812 0.46 3,445
40 246 1,086 679 5
46. PNBN 0.48 3,162
231 246 864 9,469 78
45. PTBA 0.48 29,893
30 241 153 41 0
44. TRIM 5,171 0.50 1,260
42 128 712 457 8
43. MNCN 5,756 0.55 5,373
68 245 100 7 3
42. BIPP 0.58 645
145 246 1,620 3,266 53
41. BRPT 0.59 9,863
45 245 1,514 414 18
40. DAVO 6,208 0.60 1,793
159 246 1,021 4,140 60
39. MEDC 6,305 0.61 25,979
87 244 648 190 10
38. BUDI 7,174 0.69 2,364
266 246 1,889 17,854 84
37. TLKM 7,215 0.69 74,639
91 246 840 590 16
36. CTRA 7,266 0.70 6,179
96 246 337 234 7
35. BHIT 7,605 0.73 8,047
67 246 340 25 7
34. MYRX 7,733 0.74 533
141 244 2,103 5,790 52
33. INDF 7,933 0.76 14,266
90 246 521 55 12
32. LPPS 8,092 0.78 986
74 234 1,502 961 8
31. BKSL 8,343 0.80 3,839
155 246 3,750 8,878 102
30. UNSP 8,716 0.84 14,110
56 243 1,773 441 9
29. MASA 9,327 0.90 2,265
75 241 2,242 1,066 33
28. IIKP 9,747 0.94 3,354
96 61 3,185 1,794 39
27. DEWA 9,779 0.94 6,418
115 246 645 110 15
26. MTDL 9,955 0.96 2,337
97 241 791 138 8
25. BTEK 11,925 1.15 818
116 243 1,661 2,766 31
24. BBNI 11,955 1.15 23,791
81 246 634 59 8
23. MLPL 13,829 1.33 1,746
560 246 5,765 21,965 255
22. ANTM 13,832 1.33 66,441
108 243 1,830 124 14
21. BCIC 14,297 1.38 1,078
295 214 1,221 388 28
20. TMPI 14,412 1.39 19,159
59 246 374 62 3
19. PNLF 14,499 1.39 2,742
181 246 1,759 1,092 35
18. TBLA 14,560 1.40 7,260
110 246 2,090 158 14
17. PTRA 15,722 1.51 1,999
88 246 873 163 12
16. FREN 16,011 1.54 4,616
194 246 3,675 4,871 56
15. ENRG 17,570 1.69 19,825
309 246 2,755 8,736 66
14. BMRI 17,757 1.71 55,784
146 227 556 55 12
13. MITI 20,314 1.95 2,844
137 246 2,301 1,723 28
12. BNGA 21,978 2.11 15,485
153 184 241 41 7
11. POLY 23,240 2.24 2,116
140 246 3,835 4,346 16
10. TRUB 26,316 2.53 30,201
131 246 3,858 682 36
9. KIJA 28,776 2.77 6,126
154 246 4,985 1,728 25
8. BTEL 2.85 10,818
164 245 2,268 125 16
7. SIPD 3.04 2,567
2,158 38
6. BUMI 3.41 97,301 364 246 68,611 292
571 32
5. CPRO 3.46 16,718 280 246
3,434 243 246
4. CNKO 3.47
6,472 60
3. BNII 4.80 6,709 41
10,928
2. ELTY 5.75
246
22,003 198
23,151 254 246
11,216 138 246
Trad. Day
50 ACTIVE STOCKS BY TRADING VOLUME
Freq. Th.(X) Total Transaction Q1-2008
% of Total
Value (Bill. Rp) Total Transaction 2007
F
ACT
BOOK 2008
5
Bumi Resources TbkTelekomunikasi Indonesia Tbk Aneka Tambang (Persero) Tbk Bank Mandiri (Persero) Tbk Perusahaan Gas Negara Tbk
Astra International Tbk Timah Tbk
Truba Alam Manunggal E. Tbk Tambang Batubara Bukit AsamTbk Medco Energi International Tbk
Bank Rakyat Indonesia Tbk Bank Negara Indonesia Tbk Bakrieland Development Tbk Bakrie & Brothers Tbk Energi Mega Persada Tbk
AGIS Tbk Indosat Tbk
International Nickel Ind .Tbk Central Proteinaprima Tbk Bank Central Asia Tbk
Bank Niaga Tbk United Tractors Tbk
Indofood Sukses Makmur Tbk Bakrie Sumatra Plantations Tbk Bank International Ind. Tbk
Bakrie Telecom Tbk PP London Sumatera Tbk Barito Pacific Tbk Bank Danamon Tbk Bhakti Investama Tbk
Berlian Laju Tanker Tbk Astra Agro Lestari Tbk Tunas Baru Lampung Tbk Darma Henwa Tbk Excelcomindo Pratama Tbk
Ciputra Development Tbk Kalbe Farma Tbk
Kawasan Industri Jababeka Tbk Global Mediacom Tbk
Sumalindo Lestari Jaya Tbk
Media Nusantara Citra Tbk Semen Gresik (Persero) Tbk Indah Kiat Pulp & Paper Tbk Sampoerna Agro Tbk Holcim Indonesia Tbk
Mobile-8 Telecom Tbk Adhi Karya (Persero) Tbk Unilever Indonesia Tbk
Charoen Pokphand Indonesia Tbk Indocement Tunggal Prakasa Tbk
Total 50 Stocks % of Total
Market Total 1,039,542 1,050,154 196,021 317,446 3,328 87.60 59.18
11,861
14. 2.
5.
8.
11.
No. CODE Stock Name
Total Transaction 2007
50 ACTIVE STOCKS BY TRADING VALUE
Total Transaction Q1-2008
Volume (Mill.)
% of Total Value (Bill. Rp)
Freq. Th.(X)
Trad. Day
Volume (Mill.)
Value (Bill. Rp)
Freq. Th.(X)
Trad. Day
1. BUMI 35,445 97,301 9.27 364 246 10,669 68,611 292 57
TLKM 7,215 74,639 7.11 266 246 1,889 17,854 84 57
3. ANTM 13,832 66,441 6.33 560 246 5,765 21,965 255 57
4. BMRI 17,757 55,784 5.31 309 246 2,755 8,736 66 57
PGAS 4,146 43,851 4.18 302 245 701 9,413 70 57
6. ASII 1,932 33,692 3.21 118 246 498 12,963 55 57
7. TINS 2,832 32,306 3.08 278 246 165 4,841 59 57
TRUB 26,316 30,201 2.88 140 246 3,835 4,346 16 57
9. PTBA 5,011 29,893 2.85 231 246 864 9,469 78 57
10. MEDC 6,305 25,979 2.47 159 246 1,021 4,140 60 57
BBRI 4,170 25,356 2.41 106 246 940 6,332 32 57
12. BBNI 11,955 23,791 2.27 116 243 1,661 2,766 31 57
13. ELTY 59,821 23,151 2.20 254 246 10,928 6,472 60 57
BNBR 87,685 22,003 2.10 198 246 24,981 8,510 71 54
15. ENRG 17,570 19,825 1.89 194 246 3,675 4,871 56 57
16. TMPI 14,412 19,159 1.82 295 214 1,221 388 28 57
17. ISAT 2,492 17,706 1.69 78 246 668 4,702 29 57
18. INCO 282 16,959 1.61 106 246 869 7,742 94 57
19. CPRO 35,990 16,718 1.59 280 246 7,192 2,158 38 57
20. BBCA 2,698 16,041 1.53 80 246 1,482 5,784 33 57
21. BNGA 21,978 15,485 1.47 137 246 2,301 1,723 28 57
22. UNTR 1,827 14,796 1.41 92 246 618 7,584 47 57
23. INDF 7,933 14,266 1.36 141 244 2,103 5,790 52 57
24. UNSP 8,716 14,110 1.34 155 246 3,750 8,878 102 57
25. BNII 49,932 11,216 1.07 138 246 19,529 6,709 41 57
26. BTEL 29,578 10,818 1.03 154 246 4,985 1,728 25 57
27. LSIP 1,618 10,743 1.02 34 244 393 4,494 40 57
28. BRPT 6,101 9,863 0.94 145 246 1,620 3,266 53 57
29. BDMN 1,144 8,162 0.78 56 246 226 1,612 20 57
30. BHIT 7,605 8,047 0.77 96 246 337 234 7 57
31. BLTA 4,091 7,866 0.75 87 246 359 839 7 57
32. AALI 480 7,637 0.73 68 246 186 5,435 54 57
33. TBLA 14,560 7,260 0.69 181 246 1,759 1,092 35 57
34. DEWA 9,779 6,418 0.61 96 61 3,185 1,794 39 57
35. EXCL 2,831 6,290 0.60 8 236 8 15 3 57
36. CTRA 7,266 6,179 0.59 91 246 840 590 16 57
37. KLBF 4,787 6,169 0.59 59 246 1,263 1,353 15 57
38. KIJA 28,776 6,126 0.58 131 246 3,858 682 36 57
39. BMTR 3,751 5,979 0.57 71 246 242 216 5 57
40. SULI 1,826 5,559 0.53 49 246 237 648 8 57
41. MNCN 5,756 5,373 0.51 42 128 712 457 8 57
42. SMGR 481 5,196 0.49 32 246 233 1,217 12 57
43. INKP 4,503 4,929 0.47 65 246 596 542 6 57
44. SGRO 1,701 4,766 0.45 58 132 1,115 4,835 69 57
45. SMCB 4,723 4,617 0.44 69 246 593 856 24 57
46. FREN 16,011 4,616 0.44 88 246 873 163 12 57
47. ADHI 4,050 4,599 0.44 84 246 180 189 8 57
48. UNVR 640 4,160 0.40 40 246 114 771 7 57
49. CPIN 4,478 3,980 0.38 93 227 2,122 2,169 33 57
50. INTP 636 3,865 0.37 8 57
919,885 7,019
28 246 153 1,100
615,422
59.20 69.81
F
ACT
BOOK 2008
6
Aneka Tambang (Persero) Tbk Bumi Resources Tbk
Bank Mandiri (Persero) Tbk Perusahaan Gas Negara Tbk AGIS Tbk
Central Proteinaprima Tbk Timah Tbk
Telekomunikasi Indonesia Tbk Bakrieland Development Tbk Central Korporindo Int l Tbk
Tambang Batubara Bukit AsamTbk Bakrie & Brothers Tbk
Energi Mega Persada Tbk Tunas Baru Lampung Tbk Sierad Produce Tbk
Medco Energi International Tbk Bakrie Sumatra Plantations Tbk Bakrie Telecom Tbk
Polysindo Eka Perkasa Tbk Mitra Investindo Tbk
Barito Pacific Tbk
Indofood Sukses Makmur Tbk Truba Alam Manunggal E. Tbk Bank International Ind. Tbk Bank Niaga Tbk
Kawasan Industri Jababeka Tbk Astra International Tbk Bank Negara Indonesia Tbk Metrodata Electronics Tbk New Century Development Tbk
Bank Century Tbk
International Nickel Ind .Tbk Bank Rakyat Indonesia Tbk Bumi Teknokultura Unggul Tbk Darma Henwa Tbk
Bhakti Investama Tbk
Charoen Pokphand Indonesia Tbk United Tractors Tbk
Total Bangun Persada Tbk Ciputra Development Tbk
Lippo Securities Tbk Mobile-8 Telecom Tbk Berlian Laju Tanker Tbk Budi Acid Jaya Tbk Adhi Karya (Persero) Tbk
Multipolar Tbk Bank Central Asia Tbk Indosat Tbk
Dayaindo Resources Int l Tbk Inti Agri Resources Tbk
Total 50 Stocks % of Total Market Total
74.62 81.43 67.77 196,021 317,446 3,328 11,861
67.26
1,066 33 57
866,608 7,978 146,279 258,501 2,256
0.63
75 241 2,242
50. IIKP 9,747 3,354
454 139 19 57
4,702 29 57
49. KARK 3,539 1,079 78 0.66 226
0.66
78 246 668
48. ISAT 2,492 17,706
1,482 5,784 33 57
59 8 57
47. BBCA 2,698 16,041 80 0.67 246
0.68
81 246 634
46. MLPL 13,829 1,746
180 189 8 57
190 10 57
45. ADHI 4,050 4,599 84 0.70 246
0.73
87 244 648
44. BUDI 7,174 2,364
359 839 7 57
163 12 57
43. BLTA 4,091 7,866 87 0.73 246
0.74
88 246 873
42. FREN 16,011 4,616
521 55 12 57
590 16 57
41. LPPS 8,092 986 90 0.76 246
0.76
91 246 840
40. CTRA 7,266 6,179
378 175 11 57
7,584 47 57
39. TOTL 4,812 3,445 91 0.77 246
0.77
92 246 618
38. UNTR 1,827 14,796
2,122 2,169 33 57
234 7 57
37. CPIN 4,478 3,980 93 0.79 227
0.81
96 246 337
36. BHIT 7,605 8,047
3,185 1,794 39 57
138 8 55
35. DEWA 9,779 6,418 96 0.81 61
0.81
97 241 791
34. BTEK 11,925 818
940 6,332 32 57
7,742 94 57
33. BBRI 4,170 25,356 106 0.89 246
0.90
106 246 869
32. INCO 282 16,959
1,830 124 14 57
158 14 57
31. BCIC 14,297 1,078 108 0.91 243
0.93
110 246 2,090
30. PTRA 15,722 1,999
645 110 15 57
2,766 31 57
29. MTDL 9,955 2,337 115 0.97 246
0.97
116 243 1,661
28. BBNI 11,955 23,791
498 12,963 55 57
682 36 57
27. ASII 1,932 33,692 118 0.99 246
1.10
131 246 3,858
26. KIJA 28,776 6,126
2,301 1,723 28 57
6,709 41 57
25. BNGA 21,978 15,485 137 1.16 246
1.16
138 246 19,529
24. BNII 49,932 11,216
3,835 4,346 16 57
5,790 52 57
23. TRUB 26,316 30,201 140 1.18 246
1.19
141 244 2,103
22. INDF 7,933 14,266
1,620 3,266 53 57
55 12 57
21. BRPT 6,101 9,863 145 1.22 246
1.23
146 227 556
20. MITI 20,314 2,844
241 41 7 57
1,728 25 57
19. POLY 23,240 2,116 153 1.29 184
1.30
154 246 4,985
18. BTEL 29,578 10,818
3,750 8,878 102 57
4,140 60 57
17. UNSP 8,716 14,110 155 1.31 246
1.34
159 246 1,021
16. MEDC 6,305 25,979
2,268 125 16 57
1,092 35 57
15. SIPD 31,574 2,567 164 1.39 245
1.53
181 246 1,759
14. TBLA 14,560 7,260
3,675 4,871 56 57
8,510 71 54
13. ENRG 17,570 19,825 194 1.63 246
1.67
198 246 24,981
12. BNBR 87,685 22,003
864 9,469 78 57
571 32 57
11. PTBA 5,011 29,893 231 1.95 246
2.04
243 246 2,784
10. CNKO 36,095 3,434
10,928 6,472 60 57
17,854 84 57
9. ELTY 59,821 23,151 254 2.14 246
2.24
266 246 1,889
8. TLKM 7,215 74,639
165 4,841 59 57
2,158 38 57
7. TINS 2,832 32,306 278 2.34 246
2.36
280 246 7,192
6. CPRO 35,990 16,718
1,221 388 28 57
9,413 70 57
5. TMPI 14,412 19,159 295 2.48 214
66 57
4. PGAS 4,146 43,851 302 2.55 245 701
57
3. BMRI 17,757 55,784 309 2.61 246 2,755 8,736
246 10,669 68,611 292
35,445 97,301 364 3.07
5,765 21,965 255 57
66,441 560 4.72 246
Value (Bill. Rp) % of Total Freq. Th.(X) Trad. Day Volume (Mill.) Value (Bill. Rp) Freq. Th.(X) Trad. Day Volume (Mill.)
1. ANTM 13,832
2. BUMI
50 ACTIVE STOCKS BY TRADING FREQUENCY
No. CODE Stock Name
Total Transaction 2007 Total Transaction Q1-2008
790,861
1,050,154 76.08
1,039,542
F
ACT
BOOK 2008
7
Kim Eng SecuritiesTrimegah Securities Tbk Hortus Danavest Tbk CIMB-GK Securities Indonesia Danareksa Sekuritas
Ciptadana Securities CLSA Indonesia
Optima Kharya Capital Securities Valbury Asia Securities
Lautandhana Securindo
Mandiri Sekuritas
Phillip Securities Indonesia Investindo Nusantara Sekuritas Sinarmas Sekuritas
Dhanawibawa Artha Cemerlang
DBS Vickers Securities Indonesia Bhakti Securities
Bahana Securities
Sarijaya Permana Sekuritas UBS Securities Indonesia
eTrading Securities Indo Premier Securities Henan Putihrai AmCapital Indonesia Semesta Indovest
JP Morgan Securities Indonesia Reliance Securities Tbk Deutsche Securities Indonesia UOB Kay Hian Securities Panin Sekuritas Tbk
Mahakarya Artha Securities Evergreen Capital
Merrill Lynch Indonesia Panca Global Securities Tbk Nusadana Capital Indonesia
BNI Securities Dinar Sekuritas
Samuel Sekuritas Indonesia Erdhika Elit
Macquarie Securities Indonesia
Danpac Sekuritas
Kresna Graha Sekurindo Tbk Artha Securities Indonesia
Antaboga Delta Sekuritas Indonesia Indomitra Securities
Danatama Makmur Overseas Securities Finan Corpindo Nusa
BNP Paribas Securities Indonesia Sucorinvest Central Gani
Total 50 Stocks % of Total Market Total
50 MOST ACTIVE IDX MEMBERS IN TOTAL TRADING VOLUME
392,042 634,892 6,656 82.56 86.12 82.14
5,274 2,294 2,256 2,558 4,263 2,604 2,639 4,606 1,640 3,813 6,232 3,282 5,969 7,024 3,676 4,034 2,123 3,320 9,549 3,920 3,715 7,040 4,109 6,432 5,282 5,949 5,610 8,524 6,398 10,528 6,272 9,098 5,910 6,696 11,436 8,458 6,781 13,640 13,584 Volume (Mill. Sh) Stock Name 15,255 15,245 14,642 13,653 16,901 16,119 22,192 16,023 22,140 21,396 20,012 18,462 24,953 24,674 22,558 22,558 28,354 27,630 27,212 25,869 31,459 31,009 29,277 28,472 36,830 36,249 34,624 34,070 53,444 48,402 46,779 46,344 64,893 58,615 95,406 84,844 74,222 69,134 320
1,726,666 1,809,322 18,889 323,678 546,742 5,467
68,867 66,942 1. ZP Volume (Mill. Sh) 21,898 Code No. 2,100,309 86.15 46,386 Value (Bill. Rp) 9,160 11,965 13,407 11,410 14,802 9,274 2,079,085 83.05
204 3,033 68
23,722 79.63
3,082
50. AZ 0.65 9,166
140 3,280 41
49. BW 0.66 18,843 107 7,129 41
48. AY 0.66 9,629
108 3,784 27
47. BM 0.70 10,715 95 3,090 24
46. II 0.73 11,002
105
45. BD 0.73 7,871 285 2,446 58
175 2,948 50
44. SY 15,718 0.76 12,408 240 5,942
43. SH 0.77 9,067
150 2,620 25
42. KS 0.78 24,875 178 3,585 43
41. BQ 0.81 10,840
240 3,259 90
40. RX 0.89 44,917 183 19,070 72
39. AO 0.96 13,172
146 5,198 30
38. IF 1.03 25,531 161 10,439 54
37. DS 1.06 17,413
264 6,574 70
36. NI 1.07 28,951 433 3,690 80
35. DR 1.08 23,194
242 17,017 96
34. PG 1.09 15,633 169 3,550 37
33. ML 23,587 1.13 51,668
216 3,390 51
23,823 23,616
3,290 3,223
32. EL 1.14 15,842
377 5,573 99
31. XL 1.15 15,000 189 2,756 32
30. GR 1.19 18,571
238 20,630 87
29. AI 1.20 22,308 220 4,977 52
28. DB 1.24 65,891
200 16,812 75
27. LS 1.31 17,432 360 5,609 91
26. BK 1.33 72,171
264 5,925 57
25. MG 1.36 22,890 176 9,798 81
24. FS 1.37 24,383
288 7,675 182
23. HP 1.41 24,083 320 8,762 96
22. PD 30,261 1.46 21,960
878 4,546 5,825 323
21. YP 1.49 19,234
882 10,589 277
20. AK 1.51 76,924 243 21,772 79
19. SP 1.64 31,007
341 6,755 71
18. DX 1.67 62,366 332 16,615 106
17. EP 1.74 27,404
381 6,656 74
16. DP 1.77 44,437 364 15,162 106
15. TX 40,161 1.93 26,932
104
14. DH 41,803 2.01 36,762 401 11,195 99
5,993
557 12,440 169
13. IN 44,746 2.15 29,450 452 7,627
12. KK 2.23 35,736
413 13,743 127
11. CC 2.25 49,205 425 15,097 136
10. YJ 2.33 39,625
545 14,767 152
9. CP 2.57 37,461 1,062 9,584 231
8. CM 2.82 51,409
562 14,686 148
7. KZ 3.12 110,227 408 34,869 145
6. KI 3.22 45,357
147
5. OD 3.31 76,599 924
68,147 470
24,429 280
4. YU 3.33 26,252
20,172 316
3. HD 3.57 13,562 141
12,317 2. LG 60,112 535 4.08 142,650 1,113 72,850 1,235 4.59 Freq. Th.(X) Total Transaction Q1-2008
% of Total
Value (Bill. Rp) Total Transaction 2007
F
ACT
BOOK 2008
8
Kim Eng Securities CLSA Indonesia UBS Securities Indonesia Danareksa Sekuritas Trimegah Securities Tbk
JP Morgan Securities Indonesia CIMB-GK Securities Indonesia Deutsche Securities Indonesia Bahana Securities
Hortus Danavest Tbk
Merrill Lynch Indonesia
Optima Kharya Capital Securities Mandiri Sekuritas
Ciptadana Securities
Macquarie Securities Indonesia
DBS Vickers Securities Indonesia Lautandhana Securindo
Valbury Asia Securities Sinarmas Sekuritas Phillip Securities Indonesia
Sarijaya Permana Sekuritas Investindo Nusantara Sekuritas BNI Securities
Bhakti Securities
Dhanawibawa Artha Cemerlang
Samuel Sekuritas Indonesia Kresna Graha Sekurindo Tbk AmCapital Indonesia Henan Putihrai
Nusadana Capital Indonesia
Semesta Indovest
ABN Amro Asia Securities Indonesia UOB Kay Hian Securities
Indo Premier Securities eTrading Securities
BNP Paribas Securities Indonesia Panin Sekuritas Tbk
Reliance Securities Tbk Dinar Sekuritas Evergreen Capital
Panca Global Securities Tbk Mega Capital Indonesia Mahakarya Artha Securities Erdhika Elit
Antaboga Delta Sekuritas Indonesia
Andalan Artha Advisindo Sekuritas Danatama Makmur
Danpac Sekuritas Overseas Securities Finan Corpindo Nusa
Total 50 Stocks % of Total
Market Total 2,079,085 2,100,309 23,722 392,042 634,892 6,656 321,209 551,680 5,403 82.19 87.24 78.47 81.93 86.89 81.17 1,708,814 1,832,329 18,616
140 2,256 3,280 41
50. AY 13,653 9,629 0.46
95 2,294 3,090 24
49. BM 14,642 10,715 0.51
150 2,558 2,620 25
48. BQ 16,901 10,840 0.52
108 5,274 3,784 27
47. II 15,245 11,002 0.52
104 1,267 3,227 29
46. BJ 6,650 11,305 0.54
240 4,606 5,942 105
45. SY 15,718 12,408 0.59
240 3,282 3,259 90
44. AO 20,012 13,172 0.63
189 3,290 2,756 32
43. XL 23,823 15,000 0.71
175 1,651 3,850 48
42. CD 9,745 15,088 0.72
169 3,676 3,550 37
41. PG 22,558 15,633 0.74
216 3,223 3,390 51
40. EL 23,616 15,842 0.75
146 3,813 5,198 30
39. DS 22,140 17,413 0.83
360 3,320 5,609 91
38. LS 27,212 17,432 0.83
377 3,715 5,573 99
37. GR 24,674 18,571 0.88
107 4,263 7,129 41
36. BW 13,640 18,843 0.90
878 4,546 5,825 323
35. YP 31,009 19,234 0.92
288 6,398 7,675 182
34. PD 30,261 21,960 1.05
220 3,920 4,977 52
33. AI 24,953 22,308 1.06
112 1,973 6,288 36
32. HG 10,614 22,718 1.08
176 6,432 9,798 81
31. MG 28,354 22,890 1.09
264 4,034 6,574 70
30. DR 22,558 23,194 1.10
320 7,040 8,762 96
29. HP 29,277 24,083 1.15
264 4,109 5,925 57
28. FS 28,472 24,383 1.16
178 2,604 3,585 43
27. KS 16,119 24,875 1.18
161 6,232 10,439 54
26. IF 21,396 25,531 1.22
381 6,272 6,656 74
25. TX 40,161 26,932 1.28
341 5,910 6,755 71
24. EP 36,249 27,404 1.30
433 2,123 3,690 80
23. NI 22,192 28,951 1.38
452 5,993 7,627 104
22. IN 44,746 29,450 1.40
882 5,610 10,589 277
21. SP 34,070 31,007 1.48
557 6,781 12,440 169
20. KK 46,344 35,736 1.70
401 10,528 11,195 99
19. DH 41,803 36,762 1.75
1,062 6,696 9,584 231
18. CP 53,444 37,461 1.78
413 11,436 13,743 127
17. YJ 48,402 39,625 1.89
364 9,098 15,162 106
16. DP 36,830 44,437 2.12
183 5,969 19,070 72
15. RX 18,462 44,917 2.14
562 11,410 14,686 148
14. KI 66,942 45,357 2.16
425 8,458 15,097 136
13. CC 46,779 49,205 2.34
545 9,274 14,767 152
12. CM 58,615 51,409 2.45
242 7,024 17,017 96
11. ML 23,587 51,668 2.46
535 9,160 13,562 141
10. HD 74,222 60,112 2.86
332 5,949 16,615 106
9. DX 34,624 62,366 2.97
238 9,549 20,630 87
8. DB 25,869 65,891 3.14
470 11,965 26,252 147
7. YU 69,134 68,147 3.24
200 5,282 16,812 75
6. BK 27,630 72,171 3.44
1,235 12,317 20,172 316
5. LG 84,844 72,850 3.47
924 13,407 24,429 280
4. OD 68,867 76,599 3.65
243 8,524 21,772 79
3. AK 31,459 76,924 3.66
408 14,802 34,869 145
2. KZ 64,893 110,227 5.25
Freq. Th.(X)
1. ZP 95,406 142,650 6.79 1,113 21,898 46,386 320
Value (Bill. Rp) Freq. Th.(X) Volume (Mill. Sh) Value (Bill. Rp)
50 MOST ACTIVE IDX MEMBERS IN TOTAL TRADING VALUE
No. Code Stock Name
Total Transaction 2007 Total Transaction Q1-2008
Volume (Mill. Sh)
F
ACT
BOOK 2008
9
Trimegah Securities TbkKim Eng Securities Valbury Asia Securities Danareksa Sekuritas Sarijaya Permana Sekuritas
eTrading Securities Ciptadana Securities Phillip Securities Indonesia Optima Kharya Capital Securities Hortus Danavest Tbk
CIMB-GK Securities Indonesia Investindo Nusantara Sekuritas BNI Securities
Mandiri Sekuritas Lautandhana Securindo
CLSA Indonesia Sinarmas Sekuritas
Dhanawibawa Artha Cemerlang Panin Sekuritas Tbk
DBS Vickers Securities Indonesia
Reliance Securities Tbk Bhakti Securities Bahana Securities Henan Putihrai Indo Premier Securities
Indomitra Securities Nusadana Capital Indonesia AmCapital Indonesia UBS Securities Indonesia Merrill Lynch Indonesia
Antaboga Delta Sekuritas Indonesia Erdhika Elit
Deutsche Securities Indonesia Anugerah Securindo Indah UOB Kay Hian Securities
Evergreen Capital Sucorinvest Central Gani JP Morgan Securities Indonesia Mahakarya Artha Securities Macquarie Securities Indonesia
Kresna Graha Sekurindo Tbk Asjaya Indosurya Securities Semesta Indovest
Artha Securities Indonesia Mega Capital Indonesia
Equity Securities Indonesia Panca Global Securities Tbk Samuel Sekuritas Indonesia Millenium Danatama Sekuritas Bumiputera Capital Indonesia
Total 50 Stocks % of Total
Market Total 2,079,085 2,100,309 23,722 392,042 634,892 6,656 310,960 532,936 5,520 81.40 84.75 80.99 79.32 83.94 82.93 1,692,385 1,780,032 19,213
32
50. ZR 7,159 5,558 158 0.67 786 1,379 37
0.67
159 1,265 1,265
49. SM 13,546 5,256
37
48. IF 21,396 25,531 161 0.68 6,232 10,439 54
0.71
169 3,676 3,550
47. PG 22,558 15,633
48
46. BS 9,188 7,314 171 0.72 1,141 1,831 42
0.74
175 1,651 3,850
45. CD 9,745 15,088
81
44. SH 16,023 9,067 175 0.74 2,639 2,948 50
0.74
176 6,432 9,798
43. MG 28,354 22,890
43
42. IP 11,306 8,335 176 0.74 988 1,158 28
0.75
178 2,604 3,585
41. KS 16,119 24,875
32
40. RX 18,462 44,917 183 0.77 5,969 19,070 72
0.80
189 3,290 2,756
39. XL 23,823 15,000
68
38. BK 27,630 72,171 200 0.84 5,282 16,812 75
0.86
204 3,082 3,033
37. AZ 13,584 9,166
52
36. EL 23,616 15,842 216 0.91 3,223 3,390 51
0.93
220 3,920 4,977
35. AI 24,953 22,308
87
34. ID 10,994 7,601 232 0.98 1,907 1,813 54
1.00
238 9,549 20,630
33. DB 25,869 65,891
105
32. AO 20,012 13,172 240 1.01 3,282 3,259 90
1.01
240 4,606 5,942
31. SY 15,718 12,408
79
30. ML 23,587 51,668 242 1.02 7,024 17,017 96
1.02
243 8,524 21,772
29. AK 31,459 76,924
70
28. FS 28,472 24,383 264 1.11 4,109 5,925 57
1.11
264 4,034 6,574
27. DR 22,558 23,194
182
26. BD 15,255 7,871 285 1.20 1,640 2,446 58
1.21
288 6,398 7,675
25. PD 30,261 21,960
106
24. HP 29,277 24,083 320 1.35 7,040 8,762 96
1.40
332 5,949 16,615
23. DX 34,624 62,366
91
22. EP 36,249 27,404 341 1.44 5,910 6,755 71
1.52
360 3,320 5,609
21. LS 27,212 17,432
99
20. DP 36,830 44,437 364 1.53 9,098 15,162 106
1.59
377 3,715 5,573
19. GR 24,674 18,571
99
18. TX 40,161 26,932 381 1.61 6,272 6,656 74
1.69
401 10,528 11,195
17. DH 41,803 36,762
127
16. KZ 64,893 110,227 408 1.72 14,802 34,869 145
1.74
413 11,436 13,743
15. YJ 48,402 39,625
80
14. CC 46,779 49,205 425 1.79 8,458 15,097 136
1.82
433 2,123 3,690
13. NI 22,192 28,951
147
12. IN 44,746 29,450 452 1.90 5,993 7,627 104
1.98
470 11,965 26,252
11. YU 69,134 68,147
152
10. HD 74,222 60,112 535 2.26 9,160 13,562 141
2.30
545 9,274 14,767
9. CM 58,615 51,409
148
8. KK 46,344 35,736 557 2.35 6,781 12,440 169
2.37
562 11,410 14,686
7. KI 66,942 45,357
277
6. YP 31,009 19,234 878 3.70 4,546 5,825 323
3.72
882 5,610 10,589
5. SP 34,070 31,007
231
4. OD 68,867 76,599 924 3.89 13,407 24,429 280
4.48
1,062 6,696 9,584
3. CP 53,444 37,461
316
2. ZP 95,406 142,650 1,113 4.69 21,898 46,386 320
5.21
1,235 12,317 20,172
1. LG 84,844 72,850
Total Transaction Q1-2008
Volume (Mill. Sh) Value (Bill. Rp) % of Total Freq. Th.(X) Volume (Mill. Sh) Value (Bill. Rp) Freq. Th.(X)
No. Code Stock Name
Total Transaction 2007
F
ACT
BOOK 2008
10
OVERVIEW OF INDONESIA STOCK EXCHANGE IN 2007
2007 was a historical year for Indonesia’s Capital Market, marked by the long-awaited merger of the Surabaya Stock
Exchange (SSX) and the Jakarta Stock Exchange (JSX)
MERGER
The Background of the Merger between the JSX - SSX
The JSX and the SSX had a long history in the capital market industry of Indonesia, both Exchanges have existed since
the Dutch colonization period. However, as the country’s economy expanded in the 1980s and the 1990s, it became
apparent that both Exchanges were not doing business efficiently. The cause of the inefficiency was the fact that the JSX
and the SSX offered similar products and similar trading systems, which resulted in a thin market and small market
capitalization. As an illustration, for the 1998 period, the market capitalization of the JSX was just at USD 22 billion
1.
During the 1998 – 1999 period, at the height of the Asian monetary crisis, the shareholders concluded that the inefficiency
caused by the existence of the two Stock Exchanges, have resulted in a weak Indonesian capital market industry.
Therefore, the shareholders of both parties agreed that a merger between the JSX and the SSX would create a stronger
and a more competitive Stock Exchange.
The Merger Process
To facilitate the merger process, the process was started by creating a Merger Task Force at several levels. The Task
Force was assigned a tight schedule, in which a series of intensive discussions and talks need to be completed. To give
shareholders perspective on how the merger would be carried out, first and foremost, an audit in favor of an opinion that
testifies to the fairness of the proposed merger was carried out by an independent international consultant. The results of
the audit showed that the proposed mandatory merger was evaluated as fair for shareholders from both companies.
Following this audit, it became easier for the Team to get the cooperation of the shareholders. In the next step, the team
then moved forward to solve the identified strategic issues, i.e.: legal framework, valuations and human resources that
need to be prioritized and solved in the merger process.
By July 2007, the shareholders of both exchanges finally gave their principal approvals. This approval was actually a
mandate for the Board of Directors of both Stock Exchanges, to start the merger process. The results of the merger
process was presented to the annual general shareholders meeting in October 2007, and a final formal approval was
obtained from the shareholders. Both exchanges were given one month, until the end of November 30
th2007, to finalize
the merger. By November 30
th, 2007, the SSX no longer existed and the JSX was the remaining legal entity, which started
to operate immediately on Monday, December 3
rd2007.
At the closing of year, on December 2007, after the merger, the JSX had shown a remarkable performance through the
significant increases of all its trading indicators, such as its transaction activities, indices movement, and the number of
foreign investors who invest in Indonesia’s Capital Market. At the end of 2007, the composite index was closed at
2,745.826, an increase of 52% from the previous year, while market capitalization was closed at 211.1 Billion USD, an
increase of 59% from 2006.
Last but not least, there was also a long debate with regard to the name of the new Stock Exchange. Should the
Exchange bear the name of the Jakarta Stock Exchange or the Surabaya Stock Exchange? Naturally each Exchange had
1
F
ACT
BOOK 2008
11
their preferences. This was finally decided that a new name for the newly merged Stock Exchange would be the best
solution for all concerned. Therefore, we settled on the name Indonesia Stock Exchange or IDX.
Subsequently, on January 1
st, 2008, the name of the legal entity was changed into Indonesia Stock Exchange (IDX), as
agreed in the merger.
Technical Issues
After the conceptual issues were resolved, the merger process then went on to resolve more technical issues such as: the
integration of the trading system, the physical locations of the offices and the alignment of the human resources. With
regard to the trading machines, temporarily equity trading will be carried out by the Jakarta Automated Trading Systems
(formerly of the JSX) and derivatives and bonds trading will be carried out by systems previously operated by the SSX.
The first step was ensuring that both systems are safely relocated, and thus, continue to perform satisfactorily. Next, to
ensure a greater cohesion and cooperativeness, all employees were gradually relocated into the same office building.
This process was completed by the end of March 2008. With regard to harmonizing the human resources, the Human
Resource Division had completed structural placements, and currently is working on streamlining skills development
programs.
IDX PERFORMANCE IN 2007
Trading Performance
In 2007, IDX market capitalization reached IDR 2,545 trillion, in which IDR 1,988 trillion of it came for equities, IDR 79
trillion and USD 105 million came from the Corporate Bonds, and IDR 477 trillion came from the State Debenture (SUN).
Stock Market
Stock market capitalization value at the end of 2007 increased 58.69% from one in 2006, which amounted to IDR 1,249
trillion. The increase of the market capitalization was also followed by other increases in the trading activities such as the
daily average transaction value, which increased 138.88% from IDR 1.8 trillion in 2006 to IDR. 4.3 trillion in 2007, the daily
average transaction frequency, which increased 142.68% from 19,880 times in 2006 to 48,244 times in 2007, and the
transaction volume, which increased 133.33% from 1.8 billion in 2006 to 4.2 billion in 2007. Besides the above, Jakarta
Composite Index also reached a remarkable level. On December 11, 2007, the composite index was closed at the level of
2,810.962, the highest index in the Bourse’s history. This achivement placed IDX as one of the best performance Bourses
in Asia Pacific and even in the world.
Corporate Bonds
Throughout 2007, the activities of Corporate Bonds reached IDR 68.22 trillion or underwent an increase of 113.92% from
IDR 31.89 trillion in 2006. The frequency of transaction also increased 79,03% from 8,602 times in 2006 to 15,400 times in
2007. The daily average transaction increased 114.2% from IDR 130 billion per day on 2006 to IDR 278.47 billion per day
on 2007.
State Debentures
F
ACT
BOOK 2008
12
Derivatives Market
Until the end of December 2007, there were 215 options traded in the Derivatives Market with a total value of IDR 45.4
billion and 146 times of trading frequency.
IDX ACHIEVEMENTS
Completion of the Regulations and Trading System
As part of the efforts to encourage the improvement of its Listed Companies performance, IDX set up a new lowest stock
price limit. The minimum limit of stock price, which used to be IDR 25 per share, was changed to IDR 50 per share.
Currently, 99% of the stocks listed in the Exchange is above IDR 50. This regulation is stated in the IDX Circular Letter
No. SE-001/BEJ/06-2007 regarding Share Price Limit in Jakarta Stock Exchange that was effective June 18, 2007. JATS’
capacity is also being improved. It now can input 360.000 orders and 200.000 trades.
The Developments of the Exchange Members
The number of IDX shareholders up to December 2007 is 125 Members, in which 117 of them are active Members and 5
of them are suspended. In 2006, IDX has performed a buy back of 72 of its shares. IDX also organized a series of events
for its Members. Among those were: technical analysis, sharing session regarding taxation, Stock Option training,
socialization of Exchange Traded Fund and many more. Meanwhile, there were 115 participants, consisted of 64
securities companies, 35 banks, dan 16 custodian banks.
E-Reporting
On December 28, 2007, IDX launched an electronic reporting system for its Listed Companies known as IDXnet. This
system is used as a means for the Listed companies to submit their reports and information disclosures to the Exchange,
and as a means of supervision and communication of the Exchange to the Listed Companies. In the first phase of its
implementation, there are 48 issuers participate in this E-Reporting through IDXnet.
New Products
Along with the 30th Anniversary of Indonesia’s Capital Market, IDX launched KOMPAS100 index, which can serves as a
guideline for the investors to manage their investment portfolios, and for fund managers as a reference in creating stock
based fund portfolios. On December 18, 2007, Exchange Traded Funds (ETF) were listed in the Exchange. This products
will give more alternatives of investment for the public.
Corporate Social Responsibility
F
ACT
BOOK 2008
13
TRADING SYSTEM
EQUITY TRADING
Order-Driven Market and Open-Auction System
Trading in the Indonesia Stock Exchange is based on an order-driven market system. Investors must contact brokerage
companies. Trading at the IDX can only be done by IDX Members who are already registered as the Members of the
Indonesian Clearing and Guarantee Corporation (KPEI). Brokerage companies then execute their orders. A brokerage
company may also buy and sell securities using its own name as part of its investment portfolio.
Jakarta Automated Trading System (JATS)
IDX 's equity trading system, curently still use the Jakarta Automated Trading System or JATS that has been in use since
May 1995. The JATS has the capacity to process up to 360,000 orders and 200,000 transactions daily
Considering the rapid growth of Indonesia Capital Market for the last few years, IDX is upgrading JATS, which has been
operated for the last 13 years, with a new system that will handle all financial products (stocks, bonds, and derivatives) in
one platform. The implementation of the new system will be carried out in steps, starting from the implementation of the
stock trading system at the end of 2008, and then the trading system for derivatives (option and future) and bonds, which
will be finished in the next two years.
Trading Process
ATS Remote trading (JATS RT) at the IDX utilizes a host-to-host model, using FIX. In this way, IDX Members can develop
their businesses, for example, developing on-line trading or Direct Market Access (DMA). Exchange Members can access
JATS directly from their offices through JONEC (Jakarta Stock Exchange Open Network Environment Client) on broker’s
Sales
Client Order
Validation / Risk
Management
Verification
Order & Trading
Authorizer
Broker Office
Front-end System
Client Orders
Trade Confirmation
JATS
Client Orde
rs
Orde
r / T
rade
Confirmation
Transaction Data
Processing
Settlement
Back-end System
Investor
Selling/Buying Order
F
ACT
BOOK 2008
14
site and JONES (Jakarta Stock Exchange Open Network Environment Server) on IDX’s site. The IDX also integrated the
front end of JATS RT with the back-end application of the IDX Members.
To ensure safety and availability, remote trading at the IDX is supported by a dedicated and redundancy link. The IDX
also cooperates closely with the application service provider (ASP), to ensure that IDX Members receive full supports and
services.
IDX provides 444 terminals for stock traders at Trading Floor, which is located at the Ground Floor of the IDX Building.
These terminals, called Trader Workstations or booths are connected directly to the Trading Engine via The IDX network.
Some IDX Member use their Floor Trader Workstation for back-up and use it only when they have problem with their link
to JATS.
TRADING PROCESS IN EXCHANGE
Market Segmentation
Market Segmentation is based on types of instrument and settlement mechanism:
Stock and Company Warrants
Market
Scripless
Settlement Mechanism
Regular Market
V
T+3
Netting+Offseting
Cash Market
V
T+0
Netting+Offseting
Negotiation Market
V
Negotiation
Trade for trade
The Exchange Transaction settlement at the Negotiation Market shall be conducted in accordance with the
agreement between the seller and buyer of Exchange Members.
Buying
Investor
Buying
Broker
Selling
Investor
Selling
Broker
KPEI – KSEI
Clearing & Settlement
System
Traders
Traders
IDX Trading System
(JATS)
Securities
Registrar
Fund
Securities
TRADING FLOOR
Trading Process
Settlement Process
F
ACT
BOOK 2008
15
Rights
The Exchange Transaction settlement at the Negotiation Market shall be conducted in accordance with the
agreement between the seller and buyer of Exchange Members.
Market
Scripless
Settlement Mechanism
Cash Market
V
T+0
Netting+Offseting
Negotiation Market (Session I Only)
V
Negotiation
Trade for trade
Exchange Traded Fund (ETF)
ETF trading mechanism is similar with stock trading mechanism, except that its price step is IDR 1 (one Rupiah)
and its maximum price step is IDR 10 (ten Rupiah).
Trading Schedule
Trading activities on the IDX take place on days termed exchange days. Daily trading schedule are follows:
Session I
09:30 – 12:00 JATS Time
Monday - Thursday
Session II
13:30 – 16:00 JATS Time
Session I
09:30 – 11:30 JATS Time
Friday
Session II
14:00 – 16:00 JATS Time
Pre-opening for the Regular Market shall be conducted on every trading day as follows:
Put Orders
09:10:00 – 09:25:00 JATS Time
Monday - Friday
JATS Process transaction allocation
09:25:01 – 09:29:59 JATS Time
Trading schedule for Cash Market :
Monday - Thursday
Session I
09:30 – 12:00 JATS Time
Friday
Session I
09:30 – 11:30 JATS Time
Auto Rejection
To limit the stock price movement, IDX implements an Auto Rejection System to automatically reject stock orders if stock
price fluctuation has reached certain levels.
The determination of Auto Rejection Percentage based on 5 price groups of the Regular Market Previous Price.
Auto Rejection Percentage
Previous Price of Regular
Market
Regular Condition
Corporate Action (4 days)
≤ IDR 100
50%
50%
IDR 100 – ≤ IDR 500
35%
35%
IDR 500 –
≤
IDR 2,500
30%
30%
IDR 2,500 – ≤ IDR 5,000
25%
25%
F
ACT
BOOK 2008
16
In Corporate Action condition for 3 days after Regular Market cum, Auto Rejection refers to the Previous Price of
each market
For IPO shares, Auto Rejection Percentage is twice the normal percentage
Auto Rejection is not valid for Derivatives (Warrant and Rights)
In regular condition for the first order, Maximum Price Movement refers to the previous price of Regular Market
Regular Market and Cash Market
Stock trading at the Regular Market and Cash Market is based on fixed lot and fixed time of the continuous auction market
mechanism. In the Regular and Cash Markets, trades are done in “round lots”, which is the minimum units of trades that
can be executed. Currently, 1 lot is equal to 500 shares. However, trades in the Negotiated Market can be carried out
without using this criteria. Consequently, trades in the Negotiated Market are often excuted in “odd lots”
Prices resulting from orders and the continuous auction market as described above form the basis of the regular market.
The regular market is then used to calculate the indices. The prices formed in the regular market are also used as the
quoted prices for the Indonesia Stock Exchange, which are distributed throughout the world.
Pre-Opening Session
The trading in the Regular Market is started with the Pre-opening session every trading day. This session allows
Exchange Members to make the selling and buying orders to form the opening price. Pre-opening system began on
February 3
rd, 2004. For the first stage, the priority is given to the LQ-45 stocks.
Pre-Opening Trading:
Stock trading at the Regular Market starts with a Pre-opening session. This session allows Exchange Members to input
their purchase and sell orders according to the provisions of the stock unit, step value and Auto Rejection limit.
The Pre-opening price is formed from the accumulation of the total highest bids and asks matched by the JATS during the
Pre-opening session.
All bids and asks that have not been matched during the pre-opening session will be processed in the first session of the
trading day, except if the price of the bids and asks has excel the Auto Rejection limit.
Only valid for the Regular Market
Bargaining is based on the previous price or the offering price.
Auto Rejection system is implemented and the percentage is based on the previous price or the offering price.
If the Opening Price is formed:
•
The opening price on Windows Securities is not equal to 0.
•
Auto Rejection for sessions I & II is based on the Opening Price (not Previous Price)
•
Pre-Opening Orders that are not allocated and are out of the new Auto Rejection range will be withdrawn
automatically by JATS.
If the Opening Price is not formed:
•
The opening price on Windows Securities is equal to 0.
•
Auto Rejection for sessions I & II is based on the Previous Price.
•
The status Order will remain Open and will be continued to the Trading Session I.
F
ACT
BOOK 2008
17
Terms and Conditions for Regular Market Transactions
An investor is required to fulfill the following conditions to trade in the regular market:
The amount of shares, warrants and rights in a standard lot is 500 shares/warrants/rights or units
Price movements (increments) between orders:
Shares:
Price
Maximum Price Step
Step Value
< IDR 200
IDR 10
IDR 1
IDR 200 – < IDR 500
IDR 50
IDR 5
IDR 500 – < IDR 2,000
IDR 100
IDR 10
IDR 2,000 – < IDR 5,000
IDR 250
IDR 25
≥
IDR 5,000
IDR 500
IDR 50
Rights and Warrants:
Price
Maximum Price Step
Step Value
< IDR 100
IDR 10
IDR 1
IDR 100 – < IDR 500
IDR 50
IDR 5
IDR 500 – < IDR 2,000
IDR 100
IDR 10
IDR 2,000 – < IDR 5,000
IDR 250
IDR 25
≥ IDR 5,000
IDR 500
IDR 50
Negotiation Market
The Indonesia Stock Exchange also provides stock trading based on the negotiation between buyer and seller. The
Securities trading at the Negotiation Market is conducted through individual bid-offer process (direct negotiation) between
the Exchange Members or clients through one of the Exchange Members or between a client and a Exchange Member or
between the Exchange Member and KPEI, which afterwards the said bid-offer agreement shall be processed through
JATS.
The rules for both markets are as follows:
Stocks traded are using per share unit.
The price fraction is not applicable, but it is recommended to base transactions on the stock price at Regular
Market.
The price is based on the agreement.
Matched transactions do not influence the index calculation as they do in the Regular Market.
F
ACT
BOOK 2008
18
Margin Trading
2The IDX has implemented the regulation on Margin Trading since August 1997, under the Regulation No. II-9:
1.
Margin Trading is the stock exchange transaction implemented and settled by the Exchange Member in the
interest of their customers.
2.
To implement the Margin Trading for the first time, the Exchange Member is obligated to submit the following
documents to the IDX:
a.
A statement letter proving that they own the minimum Net Adjusted Working Capital (NAWC) of IDR
5,000,000,000 with the monthly NAWC’s compilation report enclosed.
b.
A statement letter from the accountant (registered in the BAPEPAM-LK) appointed by the Exchange
Member stating that the accountant has checked its books, notes and operational systems of the Exchange
Member and that it has fulfilled all the requirements from the BAPEPAM-LK’s Regulation No. V.D.3
regarding the Internal Control and the exchange member’s accounting implementation.
c.
The sample of the margin contract between the Exchange Member and the customer.
3.
The IDX will announce the names of the Exchange Members who have fulfilled the Margin Trading
requirements.
4.
The Exchange Member mentioned in the point 3 is obligated to submit the report to the IDX on the NAWC’s
position of the previous exchange day, at least 30 minutes before the beginning of the trading on the related
exchange day.
5.
The Exchange Member mentioned in point 3 is prohibited to implement the Margin Trading in the interest of one
customer, in which the Margin Trading may cause the debit balance and/or the short position of more than 20%
of the NAWC, with the rule that the total of all Margin Trading values which can be implemented is maximum 10
times of the NAWC’s value of the mentioned Eexchange Member.
6.
The Exchange Member is prohibited to implement the Margin Trading in the interest of the Board of Directors,
Commissioners, Main Stockholders and/or the employees of the Exchange Member.
7.
The Margin Trading can be implemented by the Exchange Member only after its customer opened a Margin
Securities Account based on the margin contract between the customer and the related Exchange Member.
8.
The margin contract mentioned in point 7 contains at least:
a.
The rights and obligations of the customer and the exchange member, including the submission of
collaterals, costs, commissions and interests.
b.
The execution techniques (mechanisms) of the Margin Trading facility’s implementation.
c.
The margin contract’s termination that is caused by either the customer or the Exchange Member which no
longer meet the requirements of the Margin Securities Account or by other things that may be agreed on by
both parties.
9.
The sanctions are prepared by the exchange for breaking the rule.
Under the BAPEPAM-LK
