Jakarta Stock Exchange (JSX; Indonesian: Bursa Efek Jakarta (BEJ)) was a

stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for ...

based in

Jakarta Jakarta (; , Betawi language, Betawi: ''Jakartè''), officially the Special Capital Region of Jakarta (; ''DKI Jakarta'') and formerly known as Batavia, Dutch East Indies, Batavia until 1949, is the capital and largest city of Indonesia and ...

, Indonesia, before it merged with the Surabaya Stock Exchange to form the

Indonesia Stock Exchange Indonesia Stock Exchange (IDX) ( (BEI)) is a stock exchange based in Jakarta, Indonesia. It was previously known as the Jakarta Stock Exchange (JSX) before its name changed in 2007 after merging with the Surabaya Stock Exchange (SSX). In rece ...

History

Originally opened in 1912 under the Dutch colonial government, it was re-opened in 1977 after several closures during World War I and World War II. After being reopened in 1977, the exchange was under the management of the newly created Capital Market Supervisory Agency (''Badan Pengawas Pasar Modal'', or Bapepam), which answered to the Department of Finance. Trading activity and

market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by ...

grew alongside the development of Indonesia's financial markets and

private sector The private sector is the part of the economy which is owned by private groups, usually as a means of establishment for profit or non profit, rather than being owned by the government. Employment The private sector employs most of the workfo ...

– highlighted by a major bull run in 1990. On 13 July 1992, the exchange was privatised under the ownership of Jakarta Exchange Inc. As a result, the functions of Bapepam changed to become the Capital Market Supervisory Agency. On 22 March 1995, JSX launched the Jakarta Automated Trading System (JATS). In September 2007, Jakarta Stock Exchange and Surabaya Stock Exchange merged to form the Indonesian Stock Exchange by the Indonesian Minister of Finance.

Stock indices

Two of the primary

stock market indices In finance, a stock index, or stock market index, is an index that measures the performance of a stock market, or of a subset of a stock market. It helps investors compare current stock price levels with past prices to calculate market perfor ...

used to measure and report value changes in representative stock groupings are the JSX Composite and the Jakarta Islamic Index (JII). The JII was established in 2002 to act as a benchmark in measuring market activities based on

Sharia Sharia, Sharī'ah, Shari'a, or Shariah () is a body of religious law that forms a part of the Islamic tradition based on Islamic holy books, scriptures of Islam, particularly the Quran, Qur'an and hadith. In Islamic terminology ''sharīʿah'' ...

(

Islamic law Sharia, Sharī'ah, Shari'a, or Shariah () is a body of religious law that forms a part of the Islamic tradition based on scriptures of Islam, particularly the Qur'an and hadith. In Islamic terminology ''sharīʿah'' refers to immutable, intan ...

). Currently, there are approximately 30 corporate stocks listed on the JII. The FTSE/ASEAN Indices were launched by the five

ASEAN The Association of Southeast Asian Nations, commonly abbreviated as ASEAN, is a regional grouping of 10 states in Southeast Asia "that aims to promote economic and security cooperation among its ten members." Together, its member states r ...

exchanges (

Singapore Exchange Singapore Exchange Limited (SGX Group) is a Singapore-based exchange conglomerate, operating Equity (finance), equity, fixed income, currency and commodity markets. It provides a range of listing, trading, clearing, settlement, depository and ...

, Bursa Malaysia, The Stock Exchange of Thailand, Jakarta Stock Exchange, The Philippine Stock Exchange) and global index provider FTSE on 21 September 2005. The indices, covering the five ASEAN markets, are designed using international standards, free float adjusted, and based on the

Industry Classification Benchmark The Industry Classification Benchmark (ICB) is an industry classification taxonomy launched by Dow Jones and FTSE in 2005 and now used by FTSE International and STOXX. It is used to segregate markets into sectors within the macroeconomy. The ICB ...

(ICB). The indices comprise FTSE/ASEAN Benchmark Index and FTSE/ASEAN 40 tradable index. The FTSE/ASEAN 40 index is calculated on a real-time basis from 9:00 a.m. and the closing index is calculated at 6:00 p.m. (Singapore time). The FTSE/ASEAN benchmark index is calculated on end-of-day basis.

Merger

Both Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (SSX) merged to form a new entity "Indonesia Stock Exchange (''Bursa Efek Indonesia'').

Terrorist attack

On 13 September 2000, a car bomb exploded in the basement of the building, triggering a chain of explosions in which a number of cars caught fire. Most of the dead were drivers waiting by their employer's cars. Many had taken cover in their vehicles but suffocated as billowing black smoke engulfed the basement levels.Two jailed for stock exchange bombing
BBC News August 20, 2001

Notes

External links