IDX datafeed disruption has no effect on investor confidence

The Indonesian Stock Exchange (IDX)s Datafeed disruption on Monday morning was claimed to have no effect on investors confidence.

“We measured our Key Performance Indicator, and the result was still good,” IDX General Director Tito Sulistio stated here on Monday.

To date, the disruption had been fixed, and IDXs information system has returned to normal; however, Sulistio added that IDX would continue to develop its information technology to upgrade their trade availability system in order to avoid and minimize disruption.

He explained that the system had a maximum availability of 99.999 percent, and IDX already had 99.975 percent, which will be upgraded to 99.98 percent.

“Every 0.05 percent hike may need US$20-25 million,” he remarked.

At the same time, IDX is trying to upgrade its trade infrastructure system from Tier-2 to Tier-3.

“Hopefully, we will be moving to the new Tier-3 system on August 30,” noted Sulistio.

Separately interviewed, IDX Director of Information Technology and Risk Management Sulistyo Budi revealed that the disruption was caused by uneven distribution of information from Datafeed application.

“During investors trading, information for public has to be provided. When it is not available, we have to suspend the trade in order to check the problem. Once it is resolved, activities return to normal,” he stated.

Despite the IDXs claims, Indosurya Mandiri Securities analyst William Surya Wijaya explained that the bourse could anticipate more technical systems disruption that might affect investments plan from the stakeholders.

“This could be a lesson for the stock market players, so that they should also anticipate systems disruption,” he explained.

Wijaya was optimistic that the investors confidence in Indonesian market was still high as the domestic economy remained conducive, despite being overshadowed by some negative sentiment, especially current geopolitical situation.