IDX Delays Implementation of IDR 1 Floor Price

RRI.CO.ID, Jakarta – The Indonesia Stock Exchange (IDX) has postponed the implementation of a minimum stock price of IDR 1.

IDX Director of Development Iding Pardi said the exchange is waiting for all members to be fully prepared before introducing the new floor price in the regular and cash markets.

“We expect it to be implemented by the end of this month (September),” Iding said after the Katadata Sustainability Action for The Future Economy (SAFE) 2026 event in Jakarta on Wednesday, September 16, 2026, as quoted by Antara.

The IDX has assessed the potential impact of lowering the floor price on stocks currently trading below IDR 50. “We expect the impact on the market to be relatively minor, although this is part of our effort to make the market fairer and improve price discovery,” Iding said.

The IDX is also preparing to implement short selling as part of efforts to strengthen the capital market ecosystem. “This will give investors more options and allow them to develop investment strategies using short selling,” he said.

In the initial phase, the list of stocks eligible for short selling will be limited. PT Ajaib Sekuritas and PT Semesta Indovest Sekuritas are the two exchange members that have participated so far.

IDX President Director Jeffrey Hendrik said two mock trading sessions showed that not all exchange members are ready, although most have met the requirements. “From those two mock trading sessions, the preliminary results show that 83 exchange members are ready, but 8 are not yet ready,” Jeffrey said.

The IDX had initially targeted the change in the minimum price from IDR 50 to IDR 1 to take effect on September 7. Jeffrey said implementation will proceed once all exchange members are prepared.

“We are in close communication with the exchange members who are not yet ready, and we will assist them. We have set the target for live implementation in the third or fourth week of September (2026),” he said.

Jeffrey believes the policy will not affect foreign capital flows. Instead, the floor-price change is expected to strengthen liquidity and improve price discovery for Indonesian stocks.

The IDX has also prepared measures to anticipate the impact of implementing short selling and the IDR 1 minimum price simultaneously at the end of September 2026. “We have anticipated the impact and assessed it. It should not be too significant,” Iding said.

He explained that the IDX has identified the potential effects of both initiatives. “For stocks priced below IDR 50, we have already mapped the impact. We expect it will not be too large, even though this is part of our effort to make the market fairer and improve price discovery,” he said.

Regarding short selling, Iding said the mechanism will complement Indonesia’s capital market ecosystem. “Short selling will give investors more choices and allow them to develop investment strategies. Although the initial implementation will be limited, we will issue a restricted list of short‑selling stocks,” he said.

Two exchange members -- PT Ajaib Sekuritas and PT Semesta Indovest Sekuritas -- have participated in short‑selling transactions.

The IDX is preparing to implement the minimum stock price of IDR 1 in the regular and cash markets by the end of September 2026. Short selling will also be reintroduced gradually starting September 15, 2026, with a new Short Selling Securities List to be issued on September 28, 2026, and effective in October 2026. ***