Indonesia stock exchange toughens oversight on price manipulation

Jakarta (ANTARA) - The Indonesia Stock Exchange (IDX) will begin publicly disclosing and launching formal investigations into suspected stock price manipulation under a modernized supervisory framework, exchange executives announced Monday.

The updated mechanism marks a transition away from reliance on broad Unusual Market Activity (UMA) flags toward targeted enforcement actions aimed at preserving fair, orderly, and efficient trading conditions.

"We need to implement more effective oversight to ensure that trading on the IDX remains orderly, fair and efficient," IDX President Director Jeffrey Hendrik said during a press conference in Jakarta.

”Consequently, we will soon outline a more effective supervisory methodology and set of procedures—one that sends a strong, decisive signal to the market.”

Under the revised strategy, the exchange will replace its traditional tiered approach—which favored generalized immediate actions, UMA notices, suspensions, and internal reviews—with precise, tech-driven interventions.

Advanced surveillance systems will flag early indicators of price manipulation, triggering public notices when an investigation into specific stock transactions officially begins.

These public disclosures will detail exact transaction timeframes, including trades spanning multiple parties across different brokerage firms and exchange members.

During the investigative process, regulators reserve the right to restrict or entirely suspend specific securities accounts involved in irregular trading patterns.

Market regulators anticipate that the proactive model will safeguard overall market liquidity while drastically strengthening enforcement against abusive trading behaviors.

The IDX will brief exchange members on the new supervisory rules this week ahead of a formal rollout in the near future.

"This week, we will conduct outreach with exchange members, and we expect to be able to implement this mechanism very soon," Hendrik added.

Translator: Muhammad Heriyanto, Yashinta Difa
Editor: Aditya Eko Sigit Wicaksono
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