From The Editor
Single Investor Identification (SID)
become the fundamental of Badan
Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK) and
Self Regulatory Orga­nization (SRO)
Masterplan to develop capital market infrastucture. The development
plan is conducted as the anticipation for the increasing number of
Issuers, investors, and capital market
transactions. What are the solutions
to reach this goal? Read the main article of Fokuss this edition.
We also reported the story of
KSEI’s Delegation Team from Mumbai, India, when they attended The
14th Asia Pacific Central Depository
Group (ACG) Cross Training Seminar. About Emiten Seminar which
become KSEI’s annual activity is also
reported in this edition. This year
Emiten Seminar is discussed about
the role of social media as information facilities.
Read also the presence and benefit of Indonesian CaMEL to support
capital market educational program.
Likewise, we also give the update of
KSEI’s activities and statistic data.
SID, Capital Market Infrastructure
Development Foundation
Happy Reading.
Editor
Website KSEI
www.ksei.co.id
email
[email protected]
Toll Free
0800 -1- 865734
Call Center KSEI
021 - 515 2855
When it was introduced at the first launching of Investor Area on June
2009, Single Investor Identification (SID) was known as supporting
data for investor to login to AKSes Facility. Now, SID has been applied
in various capital market infrastructure developments.
A
KSes Facility (Securities Ownership
Reference) provided by PT Kustodian Sentral Efek Indonesia (KSEI),
was the first project that applies one of
the benefits of Single Investor Identification (SID) which is part of the big plan of
Capital Market and Financial Institution
Supervisory Agency (Bapepam-LK) and
Self Regulatory Organizations (SRO) for
capital market infrastructure developments.
In line with the capital market infrastructure developments, SID was gradually applied for the development of Straight
Through Processing (STP) project. In the
initial phase on April 2011, PT Bursa Efek
Indonesia (BEI) implemented the obliga-
TABLE OF CONTENTS
1
SID, Capital Market Infrastructure Development Foundation
3
The 14th ACG Cross Training Seminar
4
2012 Emiten Seminar:
6
Supporting The Education Through Indonesian CaMEL
7
AKSes Card Lottery Prize Period III:
8
aCTIVITIES & StatisTICS
Information Sharing From Mumbai
Social Media & Public Company
Lots Opportunities to Get The Prize
03
Edition
Year 2012
Edisi 03, 2012
tion of indicating trading ID for Securities
Company’s client when conducting transaction at BEI. Trading ID applied is a series
of investor’s unique codes which is part of
SID owned.
With such obligation of indicating SID
as trading ID, information of trading data
at the Exchange become more detailed
and clearer. Formerly, information concerning the party who conducted Securities buy-sell instructions at the Exchange
was generally divided based on exchange
member’s code and foreign or local party.
With SID implementation, trading data
can be directly viewed by the party con-
Fokuss
“With such obligation
of indicating SID
as trading ID,
information of trading
data at the Exchange
become more
detailed and clearer.”
ducting the transaction up to client level.
This facility really supports the monitoring function performed by capital market
authority toward transactions at the Exchange so they can run fairly.
The next phase of this STP project was
the development of netting and clearing processes at PT Kliring Penjaminan
Efek Indonesia (KPEI), up to transaction
settlement process in e-Clears and C-BEST
systems. Based on transaction data from
BEI which have been completed with SID
information, e-Clears system in KPEI was
developed to perform right calculation
and transaction settlement obligation up
to client level. Upon such right calculation
and transaction settlement obligation and
based on SID owned by client combined
with client data in KSEI, system will automatically facilitate client’s Securities and
fund receiving-delivering process directly
from client’s Sub Securities Account. It
was expected that it could improve the efficiency of process in Securities Company’s
back office system by reducing instruction
input into e-Clears and C-BEST systems for
allocation and settlement processes related to client’s Sub Account. Back office system simply ensured the process compatibility and client’s transaction settlement
report with data reconciliation process.
The implementation of SID for STP
project development certainly required
proper preparation from Securities Companies, either as Exchange Member of
BEI, Clearing Members of KPEI, or Account
Holders in KSEI. The basic preparation was
clients’ data completeness and updating.
Ideally, SID is expected to become single
and unique identity for every capital market investor. Though investor has one or
several Sub Securities Accounts in KSEI
through one or several Account Holders,
he/she just requires one SID.
One of the factors that could make this
concept run ideally was the availability of
complete clients’ data on back office system. Clients’ data must be updated regularly based on change of data reported to
KSEI. Despite of clients’ awareness and active participation, readiness of back office
system for clients’ data administration and
reporting process for efficient SID making and data updating process was also
required.
Required preparation in Securities
Company’s system also covered features
development for processes related to SID.
With complete, updated clients’ data and
accurate SID, SID as trading ID can be integrated automatically during submission
of buy-sell order in name of related client
to JATS Next-G. Likewise, reconciliation
process on transaction data from BEI and
report of right calculation and transaction
settlement obligation from KPEI could be
performed fast and efficiently through the
system. Related to transaction settlement,
system in Securities Company generally
had a facility to ensure the transaction
settlement obligations in name of clients
were available in clients’ Sub Securities Account Settlement.
For clients’ transaction settlement in
the form of fund right and obligation, the
STP project could not run without complying with the provision of clients’ Fund
Account opening. Infrastructure and system preparation conducted by KSEI and
Payment Banks must be supported with
back office system readiness to enable Securities Companies to apply it.
In the initial implementation phase,
incomplete clients’ data in Securities Companies as well as SID ownership that was
valid and synchronized with data in KSEI
inflicted problem in Clients’ Fund Account
opening in Payment Bank. Back office system in bank to perform the administration
of Clients’ Fund Account also required further enhancement. Enhancement of back
office and Payment Bank system related
to SID implementation for Clients’ Fund
Account opening and administration to
support STP process has been conducted
jointly with back office vendor, and it was
targeted to finish on June 2012.
For investors, the main benefit of SID
implementation in the capital market
infrastructure development projects is
transparency of all investment activities in
the capital market. Investors are expected to be comfortable and have no worry
concerning their investment portfolios as
Publisher: PT Kustodian Sentral Efek Indonesia (KSEI) • Advisor: KSEI Director • Editor: Zylvia Thirda,
Dharma Setyadi, Susiyanti, Novian Harry Wibowo, Ahmad Nooriman, M. Ridwan, Rachmat Irfan,
Adisty Widyasari, Dimas Prayoga • Address: Gedung Bursa Efek Indonesia, Tower I Lt. 5, Jl.
Jend. Sudirman Kav 52-53, Jakarta 12190, Phone. 52991099, Fax. 52991199 • Circulation: KSEI
Corporate Communication Unit.
[ Alec Syafruddin ]
The 14th ACG Cross Training Seminar
Information Sharing
From Mumbai
C
entral Depository Services (India)
Limited (CDSL) was the host for the
14th ACG Cross Training Seminar.
The event, that was held on May 26 – June
1, 2012, was attended by 70 participants.
The delegations came from clearing and
depository companies from many countries in Asia under The Asia Pacific Central
Depository Group (ACG), as well as invited
delegation from South Africa. Indonesia
was represented by two institutions, PT Kustodian Sentral Efek Indonesia (KSEI) and PT
Kliring Penjaminan Efek Indonesia (KPEI).
Seminar day-one presented Shashi
Kumar, representative from Securities
and Exchange Board of India, concerning capital market condition in India and
various implementations of investor protection. It was an interesting presentation as it described how big the market
in India was. Capital market in India was
started in 1875 and it keeps growing.
Currently, India has two Exchanges (National Stock Exchange of India & Bombai
Stock Exchange) and two depositories
with total participant of 10,263 Securities Companies, 6,766 registered companies, and 850 depository participants.
Investor protections applied in India were, among others: client’s fund
separation, prohibition of using fund
from client’s account by Securities
Company, the obligation of providing
Securities and fund reports to client,
regular client’s Securities and fund reconciliation, and severe punishment against violation committed by Securities Company.
Later, delegation team from India,
China, Singapore, Thailand, Japan, Indonesia, and South Africa conducted comparison session and information exchange
concerning business application in the
capital market. The shorter the transaction settlement period is, the smaller the
“It is possible that
faster transaction
settlement can
be realized in the
future.”
3rd Edition, 2012
Development of Central Securities Depository
from many countries in Asia Pacific became the
main discussion in ACG Cross Training Seminar
in Mumbai, India.
Fokuss
their Securities and fund have been placed
in Sub Securities Account in KSEI and Fund
Account in bank.
By owning SID number, investors
can be sure that they have been registered as Indonesia capital market investors. Through AKSes facility, investors can
monitor all investment activities, starting
from transaction data, data of right and
transaction settlement obligation or Securities and fund balance and transfer in Sub
Securities Accounts or Clients’ Fund Accounts. It is expected that the capital market investment comfort and investment
portfolio existence which can be checked
and monitored at anytime can support the
socialization program to make Indonesian
people more interesting in investing in
the capital market.
With those development projects
taken, capital market infrastructure is
expected to be ready to anticipate the
increase of Issuers, investors, and transaction activities. Likewise, it is also expected
that process and activities in market players can be performed efficiently, not suddenly increased due to market leap. Additionally, supervision toward capital market
activities by the authority is expected to
be more efficient and effective to make all
processes run orderly and fairly.
It is not easy to make them happen.
The running and on-going projects require
further developments and the implementation must be monitored continually. It
also happens to other projects that are still
under preparation or development. Workhard, cooperation, and support from all
parties are certainly required, either from
the capital market authority, the SRO, or
market players, to make Indonesia capital
market even better. l
Edisi 03, 2012
Fokuss
risk between parties conducting such
transaction will be. Indonesia, Japan, Singapore, and Thailand are still applying
T+3 scheme for their transaction settlement. It is possible that faster transaction
settlement can be realized in the future.
Legal Task Force took its role to discuss
the possibility of transaction settlement
between countries considering that the
demand for transaction between countries
in Asia Pacific got increasing. Among the
existing transactions between countries,
legal risk earned less attention.
The purpose of the Legal Task Force was
to give contribution toward legally-secure
transaction settlement between countries
by knowing better the difference of legal
framework in each country in Asia Pacific.
The difference of legal practice in respective country that provides such transaction caused legal gap, and if it gets bigger,
the legal risk will be greater as well. It was
what the team tried to work out, to find
the solution. Certainly, government policy
is required when regulation concerning
cross-border transaction has been formed,
especially for Asia Pacific region.
During the session related to new business development, interesting information came out from other delegation. One
of them came from Central Depository
Company of Pakistan Limited (CDC) that
has developed Fund Management System
(FMS) to accommodate increasing number
of Mutual Funds and a more effective operation.
While Korea Securities Depository
(KSD) has developed FundNet system
since 2001 which has been launched in
2004. FundNet is Fund Network Hub for
management asset industry operated by
KSD, which is a multi-function funding
infrastructure with automation and stan-
“The difference of legal
practice in respective
country that provides
such transaction
caused a risky legal
gap.”
dardization. With this system, user can
perform deposit, settlement, entitlement,
derivatives, and other funding activities.
Up to now, FundNet goes through further
development based on need.
In technology task force, the discussions were about technology development and cost efficiency. Delegation from
Pakistan had a chance to present how efficiency in term of technology was applied,
among others by empowering the IT staff,
minimizing the use of IT consultant or vendor, implementing automation to improve
the efficiency of work labour empowerment, developing in-house software, and
reviewing software license contract to remove unnecessary software cost. On other occasion, Japan Securities Depository
Center Inc. (JASDEC) concluded that there
was a close-relationship between business
strategy and IT efficiency. According to
them, in order to make IT efficiency, it is required to change the company’s business
strategy.
Vietnam Securities Depository (VSD)
gave explanation about IT cost reduction through reduction of invaluable assets which can decrease the maintenance
cost. Utilization consolidation of server,
database, and application can save lots of
money, but it can increase the data security risk. While Taiwan suggested utilization of virtualization, cloud computing as
the alternatives, and discontinued projects
that gave less values to the company but
required greater cost.
Other interesting topics were about
the implementation of electronic Public
Offering or Electronic IPO (E-IPO) presented by India Stock Exchange. It will save
time, space, and money as it is conducted
virtually under supervision of India Stock
Exchange.
The seminar was ended on June 1,
2012 by hearing comments from the participants. Overall, the seminar went well,
inserted by destressing sessions. It made
the participants never absent from all sessions of the seminar. l
[Rachmat Irfan & Yanu Suandika]
A
s the appreciation form of PT
Kustodian Sentral Efek Indonesia (KSEI) for the support given
by its service users, KSEI organized 2012
Issuer Seminar. The event which has
been held since 2009 was aimed at improving the good relationship between
KSEI and Registered Companies (Issuers).
Held on May 23, 2012 at Ballroom 1,
The Ritz-Carlton, Pacific Place, Jakarta,
the seminar took a theme of “KSEI’s Service Products and The Benefit of Social
Media for Public Company” divided into
two sessions. Before the seminar was
started, Sulistyo Budi, Director of KSEI,
gave his welcome speech and expected
that the account holders could take
benefit from such seminar.
In the first session delivered by Gusrinaldi Akhyar, Head of Central Securities Depository Services Division, and
Syafruddin, Head of Research and Business Development, information about
KSEI’s new service products were given.
Both speakers talked about new development, Single Investor Identification
(SID), and the application as well as adjustment of List of Shareholders or List
of Bondholders related to SID and information about corporate action to KSEI.
SID is single identity owned by capital market investor who has opened
Sub Securities Account in Securities
Company or Custodian Bank indicating
data of investor, e.g. name, nationality,
type of investor, status, address, and
identity number (KTP/NPWP/passport).
It also serves as a tool for information
disclosure and investor protection
through direct Securities portfolio and
fund monitoring by conducting login
to AKSes Facility (Securities Ownership
Reference).
SID must be indicated in every
transaction order at the Indonesia Stock
Exchange and Straight Through Processing (STP) process that comprises
of trading, clearing, and settlement,
which will be conducted automatically.
As mentioned by Gusrinaldi, SID information will be also added to Securities
holder data of each Issuer to enable
easier information searching of investor who owns Securities. Besides, with
SID, it is also easier to identify investor
who has more than one Sub Securities
Account in Securities Company or Custodian Bank.
Further development of SID will
later addressed to physical (script)
2012 Emiten Seminar:
Social Media & Public Company
Social media is a new media applied by companies to disseminate
information. It was part of the information delivered in 2012 Issuer
Seminar.
company’s products, to give information about company’s programs, and
to conduct marketing and promotion
activities.
2012 Issuer Seminar that was attended by 326 participants was closed
with lunch and table talk. Hopefully,
representatives of Issuers who came
to the seminar could earn benefits and
new knowledge concerning how to use
the social media well for the company’s
interest. l
Several companies in Indonesia
have also started to take benefit from
the development of social media for
publication and information purpose. It
was shown by a number of companies
that have owned accounts in popular
social media, e.g. Facebook and Twitter. Those companies seemed aware of
the importance of social media as many
stakeholders have already had accounts
in social media, starting from general
public, consumers, up to influencers,
such as the authorities, politicians, and
competitors whose opinions can influence the public.
Enda also explained certain things
that were expected by someone when
he/she sees company’s brand in social
media. For consumer, social media was
expected to serve as hotline number
that can be reached when problem reveals, provider of information concerning new promo, product knowledge or
other information. For the company, the
benefits of social media were, among
others: to monitor customer’s complaint
(customer care) and to interact with the
customers, to build company’s reputation, to disseminate information about
Fokuss
shareholders and Mutual Fund holders.
At the end of session, Gusrinaldi has reminded the Issuers to always submit the
information of corporate action activity timely so it can reach KSEI’s Account
Holders as well as the public faster.
The seminar was then followed by
talkshow concerning social media with
Enda Nasution, Managing Director SalingSilang.com as speaker. Accompanied
by Amanda Valani, journalist from Metro TV as moderator, Enda talked about
“The Benefit of Social Media for Public
Company”. With a java quote “mangan
ora mangan, sing penting ngumpul” as
the opening, Enda said that social media was very important to Indonesian
people and it could not be separated
from Indonesia culture.
Currently, social relationship grows
faster through social media, e.g. blog,
Facebook, Twitter, etc. Based on data
described by Enda, Indonesia has become the second highest facebook user
and also a country with the third most
active Twitter user in the world. Those
facts were supported by the number of
internet user in Indonesia who continues to increase from years.
3rd Edition, 2012
[M. Frantau Baskara]
“Further development
of SID will later
addressed to physical
(script) shareholders
and Mutual Fund
holders.”
Supporting The Education
Through Indonesian CaMEL
Supported by Bapepam–LK, the SRO has officially launched Indonesian CaMEL to
support capital market education program. This institution is expected to become
modern data and information reference centre.
Edisi 03, 2012
A
Fokuss
t the initiative of PT Kustodian
Sentral Efek Indonesia (KSEI),
jointly with other Self Regulatory Organizations (SRO), namely PT Bursa
Efek Indonesia (BEI) and PT Kliring Penjaminan Efek Indonesia (KPEI), supported
by Capital Market & Financial Institution
Supervisory Agency (Bapepam-LK), PT
Indonesian Capital Market Electronic Library (Indonesian CaMEL) was officially
estalished on April 23, 2012. The institution functions as capital market education supporting program.
At the launching, Chairman of Bapepam-LK, Nurhaida affirmed that the existence of Indonesian CaMEL was a proof
of Indonesia capital market society care
toward the availability of modern and
credible information system. It was in line
with the regulator and market players’
commitment as drawn up in 2010 – 2014
Capital Market and Financial Institution
Master Plan.
“Not only become
information and data
center, Indonesian CaMEL
will also participate
actively in capital market
educational program.”
In his office, the Director
of Indonesian CaMEL, Djoko
Saptono, justified that the institution was established to
deal with the increasing need
of capital market information.
Additionally, said Djoko, the
capital market grew rapidly for
recent years as reflected from
the increase of market transaction volume, frequency, and
value. At the same time, public participation got improved as well. “Improvement
of capital market players activities must
be supported by proper information facility so it can run in an optimal way,” explained Djoko.
To support such commitment, Indonesian CaMEL has decided to continually
provide information dissemination supporting facility to all public. Therefore,
Indonesian CaMEL deserves to become
the Indonesia capital market information
and education reference. It is in line with
the vision of Indonesian CaMEL, which is
to become the centre of excellence for
capital market information centre in Indonesia.
To be in line with the vision, this institution is directed to provide data and
information access which will be updated
continually. “Our focus is to provide digital data, but hard-copy is also available.
For digital data, they cannot be accessed
temporarily, but we are working on it so
the facility can be widely accessed in the
future,” affirmed Djoko Saptono.
­
[Editor]
Access Card Prize Lottery Period III:
Lots Opportunities
to Get The Prize
A
fter the end of second period of
Access Card Lottery (February 22,
2012 - May 27, 2012), PT Kustodian
Sentral Efek Indonesia (KSEI) withdraws
the lottery winners on May 31, 2012 . The
total of 1387 investors participated in Access Card Lottery Period II, which lasted for
about three months, with prizes: 1 unit of
Piaggio Zip 100, 10 units of iPhone 4S and
10 units of Samsung Galaxy Note.
Held in KSEI office, the withdrawal
was conducted in front of public notaries,
police, Ministry of Social Affairs, and representatives from KSEI. The main prize of
Piaggio Zip 100 won by Sho Rapon Rainto,
investors who live in East Java.
With the Access Card Lottery Period
II winners withdrawal, the investors who
have not won in this periode are expected
to be discouraged, since KSEI still hold next
period lottery.
“Access Card Lottery has become part
of the KSEI’s activities plan throughout
2012. Thus, for investors who have not
won, there is an opportunity in third and
fourth period, with more interesting prizes. Hopefully with the lottery, investors are
increasingly motivated to monitor their
portofolios, “said Syafruddin, Head of KSEI
Research and Business Development.
Access Card Lottery period III runs
from June 25, 2012 to 16 September 2012.
During that period, investors who log on
to AKSes website (http://akses.ksei.co.id)
by personal computer or Access Mobile,
will obtain lottery numbers which will be
drawn at the end of the period to compete
for prizes: 1 unit of Honda PCX, 10 units of
Samsung Galaxy S III and 10 units of Nokia
Lumia 900.
Use The Card and
Win The Prizes!
[Editor]
“For investors who
have not won, there
is an opportunity
in third and fourth
period.”
3rd Edition, 2012
Access Card Prize Lottery Period III will be run
immediately from late June 2012, with more
interesting prizes.
Fokuss
Currently, Indonesian CaMEL has
owned a system called Capital Market
Electronic Document System (CmeDS).
With this technology, all digital data related to Indonesia capital market can be accessed. From the beginning, the system
was designed for information distribution
which can be in line with the exchange
platform. In the future, when it is online,
it can be linked to relevant environments,
e.g. Pojok BEI at many campuses or Capital Market Information Centre (PIPM) in
various cities.
Despite of data and information provision, Indonesian CaMEL will also actively
participate in capital market education
program through seminar or training.
These programs, said Djoko, can have
synergy with socialization activities performed by the SRO or Bapepam-LK.
Available data and information service
comprises of public information collected
from the SRO, Bapepam-LK, Exchange
Members, or other relevant institutions. It
can be Annual Reports, Financial Reports,
Prospectus, Announcements, or Regulations. Most of the data are available in
softcopy that can be printed into document.
Djoko promised that he would complete the data and information required,
either from the regulator or other relevant
sources. For user, a system is provided to
search data and information easily. Therefore, the user can use electronic catalogue
to search the required information. In
the meantime, added Djoko, the number
of capital market book collections, both
from domestic or abroad, were around
1,000 titles and it continues to increase.
If you have a chance to visit Indonesian CaMEL at BEI Building 1st floor, you
will find many facilities, e.g. Computer
Zone, Kids Zone, internet and hotspot,
meeting room, and Coffee Shop. Kids
Zone is a new facility which is intended to
give early introduction to students from
elementary and junior high schools.
Indonesian CaMEL is operated as limited liability company, but it is managed
to be able to stand on its own. The available zones, according to Djoko Saptono,
are expected to give contribution, even
though it is not for profit-oriented purpose. l
activities
2012 KSEI ‘Risk Awareness Management Program’
KSEI organized 2012 Risk Awareness Management Program in
Lembang, Bandung, on May 26, 2012, participated by all employees.
Under the theme of ‘Mitigate Risks by Complying with Rules’, this
activity was intended to improve the employees’ awareness toward
the policies of Bussiness Continuity Management (BCM), Risk
Manajement (MR), and Good Corporate Governance (GCG). With
these three policies, KSEI has guidances for running the company’s
operational activities under any circumstances, monitoring and
mitigating the company’s risks, and complying with all regulations in
the capital market through good corporate governance. After going
through this activity, it was expected that the employees’ awareness
toward such policies would get better and all employees shall get
lesson and understanding concerning the purpose of company’s
policy making. l
Pameran Investasi Syariah di Pasar Modal 2012
Edisi 03, 2012
On May 19 to 20 June 2012, Bapepam-​​LK together with the
Islamic Research and Training Institute and the Islamic Development
Bank (IDB) held Islamic capital market conference at Hotel Borobudur,
Jakarta. With the theme of ‘Toward Resilient, Robust and Competitive
Islamic Capital Market ‘, the conference was held to acknowledge the
role of Islamic capital market in the Islamic financial system, as well as
its impact on improving the investment, market stability and socioeconomic development. In addition to the conference, exhibition in
Islamic capital markets investment were also held, participated by
SRO and Islamic investment services company. Through this event, it
is expected that the knowledge of market participants and the public
about Islamic capital market will increase. l
Fokuss
2012 KSEI Participant Team Building
In order to improve the good relationship with all service users in
2012, KSEI arranged Service Users Team Building. Unlike years before,
the theme for this year was ‘Survival Basecamp’ focusing on mutual
cooperation and team solidarity. At Buyan Camp, Bedugul, Bali,
the Team Building was participated by 160 participants comprising
of representatives from Securities Companies, Custodian Banks,
Securities Administration Agencies, Payment Banks, BEI, and KPEI.
At ‘Survival Basecamp’ area, the participants who were
divided into five groups completed all military games, namely:
Soldier Basecamp, Targeting Point Soldier, Soldier Stretcher,
and Water Balloon War. As the closing remark, all participants
jointly had Gala Dinner at The Stone Entertainment, Kuta,
Bali, and enjoyed the entertainments provided, e.g. live band
performance and dancer, and it was ended with doorprize drawing.l
statistics