- The Indonesian capital market has now shortened the transaction settlement period from T+3 (three days) to T+2 (two days), based on Regulation of the Financial Services Authority (“OJK”) No. 21/POJK.04/2018 on Stock Exchange Transaction Settlement Periods (“Regulation 21/2018”).
- The transaction settlement period has been shortened in a bid to increase liquid transactions and the reinvestment of investor capital, as well as to improve operational efficiency and to enhance the transaction capacities of securities companies. In addition, the implementation of T+2 is also expected to eliminate the time lag when switching foreign portfolios to domestic portfolios, as there is a one-day delay.
- The implementation of T+2 has consequently shortened the timeframes for the following activities: 1) The tenor for the receivables of buy transactions has now been shortened from T+2 to T+1 for regular markets; 2) If any forced sell results in a negative balance, then customers must now be informed of this within T+3 (previously T+4); and 3) Period adjustments for public announcements and the reporting of separate transactions to capital-market authorities, from a two-day period to a one-day period from the determination of any separate transactions.
- For more on this story, see Hukumonline: “Transaksi Bursa T+2 Sudah DIterapkan, Ini Muatan Pokok Aturannya”
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