The Nasdaq OMX Group (Nasdaq:NDAQ) has reached a milestone together with its long standing customer Indonesia Stock Exchange (IDX) following last week's successful launch of a new trading system provided by Nasdaq OMX Market Technology.
The new platform named "JATS-NextG" has modernized IDX's trading operations. It will replace the two trading systems previously used at Jakarta and Surabaya Stock Exchanges, which in 2007 merged to form IDX. With JATS-NextG, IDX will be able to trade all its financial products, including equities, derivatives, mutual funds and bonds, on one single platform. The system also enables significantly increased trading volume and has greater flexibility to accommodate the fast growing and dynamic Indonesian market.
"The aim of the new system was to meet the future needs of the Indonesia capital market and to maintain proper, efficient and orderly trading. To meet with future demands, the JATS-NextG is designed to handle up to 1,000,000 orders and 500,000 transactions per day, a much bigger capacity compared to the previous system that could handle 360,000 orders and 200,000 transactions per day. The new system also facilitates the trading of all financial products in one platform and enables an integrated distribution of trading information and surveillance on all products traded in the Exchange," said Mr. Erry Firmansyah, President Director of IDX.
"We are proud to list IDX among our customers and we look forward to support them in their future growth," said Lars Ottersgard, Senior Vice President & Head of Market Technology at NASDAQ OMX. "We believe in the growth potential of the Indonesian capital markets. The recent successful launch further strengthens IDX's ability to support the development of the Indonesian market and to increase liquidity for its members and institutions. In addition, this launch strengthens NASDAQ OMX's presence in the Asia Pacific region, where our technology today powers 12 exchanges."