History of Indonesia Stock Exchange
Historicly, capital market has presented far before independent indonesia. capital market or effect exchange has presented since dutch colonial age and precisely in the year 1912 at batavia. Capital market at the time founded by dutch indies government for the sake of colonial government or VOC. Although capital market have been there since year 1912, development and capital market growth doesn't walk such as those which supposed, even in several capital market activity periods experiences emptiness. The mentioned is caused by several factors has liked world war I and II, power transfer from colonial government to indonesia republic government, and various condition that causes effect exchange operation can not as must it. Indonesia republic government activates to return capital market in the year 1977, and some years then capital market experiences growth along with various incentive and regulation that taked outside government. In a word, capital market development pillar in indonesia visible as follows:
- 14 december 1912: first effect exchange in indonesia is formed at batavia by dutch indies government.
- 1914 - 1918: effect exchange at batavia closed during world war I.
- 1925 - 1942: effect exchange at jakarta opened to return together with effect exchange at semarang and surabaya beginning year 1939 because policies rumors (world war II) effect exchange at semarang and surabaya closed.
- 1942 - 1952: effect exchange at jakarta closed to return during world war II.
- 1952: effect exchange at jakarta activate to return with rules of emergency capital market
- 1952, taked outside by minister of justice (lukman wiradinata) and minister of finance (prof. dr. sumitro djojohadikusumo). instrument that dealed government debenture RI (1950)
- 1956: nationalization program companies dutch. effect exchange more inactive.
- 1956 - 1977: trade at vacuum effect exchange.
- 10 augusts 1977: effect exchange diresmikan return by president soeharto. bej run under bapepam (capital market executor ). date 10 augusts is commemorated as hut capital market. this capital market reactivation also marked with go public pt cement cibinong as emiten first.
- 1977 - 1987: trade at effect exchange very weary. total emiten up to 1987 new achieve 24. more opting society banking instrument is compared capital market instrument.
- 1987: marked with present it december package 1987 (pakdes 87) that give ease for company to do general tender and foreign investor embeddeds capital in indonesia.
- 1988 - 1990: deregulation package dibidang banking and capital market is launched. door bej opened for foreign. stock exchange activity is seen to increase.
- 2 june 1988: indonesia parallel stock exchange (BPI) begins to operate and managed by money trade coalitions and effect (PPUE), while the organization consists of broker and dealer.
- december 1988: government takes outside december package 88 (pakdes 88) that give ease companies to go public and several wisdoms other which are positive for capital market growth.
- 16 june 1989: effect exchange surabaya (BES) begin to operate and managed by private property limited liability that is pt effect exchange surabaya.
- 13 july 1992: Privatisation of BEJ. Bapepam turn into capital market supervisor. this date is commemorated as HUT bej.
- 22 may 1995: trade otomation system at bej carried out with system computer jats (jakarta automated trading systems).
- 10 november 1995: government takes outside to rules no. 8 year 1995 about capital market this law begins january 1996.
- 1995: indonesia parallel stock exchange merger with effect exchange surabaya.
- 2000: trade system without letter (scripless trading) begin applied at indonesia capital market.
- 2002: bej begin to apply long distance trade system (remote trading).
- 2007: effect exchange merging surabaya (BES) to effect exchange jakarta (BEJ) and change name is Indonesia Stock Exchange (BEI).
( Source Bursa Efek Indonesia )
