Correction and/or Cancellation of Securities Transactions Through SPPA Must Now Be Requested Within 45 Minutes of the End of SPPA Operational Trading Hours

In 2020, PT Bursa Efek Indonesia (“BEI”) introduced a framework for the trading of securities via Alternative Market Organizer Systems (Sistem Penyelenggara Pasar Alternatif – “SPPA”), as comprehensively outlined under the Appendix to Decree of the BEI Board of Directors No. KEP-00093/BEI/11-2020 on Rules for Securities Trading Through Alternative Market Organizer Systems (“Decree 93/2020”). However, in an effort to ensure that the applicable SPPA framework is in line with current market developments and requirements, BEI has now decided to adjust the applicable SPPA mechanism through the issuance of Decree of the Board of Directors of BEI No. KEP-00032/BEI/02-2024, which bears the same title as Decree 93/2020 (“Decree 32/2024”) and which has been in force since 19 February 2024.[1] As a consequence, the enforcement of Decree 32/2024 has resulted in the repeal and replacement of Decree 93/2020.[2]