The Indonesia Stock Exchange (BEI) is evaluating the possibility of reintroducing bid and ask information in the Full Call Auction (FCA) trading scheme (17/12). The exchange will also review the criteria for stocks listed on the special monitoring board.

Investor Protests Trigger FCA Review

The review comes after investors criticized FCA trading for lacking bid and ask data, arguing it makes the market hard to predict. Many described the system as similar to gambling, as investors must guess prices during transactions. A petition on Change.org, signed by more than 16,000 investors in June 2025 (06/25), requested changes to the FCA rules.

BEI Director Outlines Potential Changes

Jeffrey Hendrik, BEI’s Director of Development, stated that mechanisms for bid and ask could be implemented in FCA trading. “We are reviewing bid and ask, with expectations for 2026,” he told reporters at the BEI headquarters in Jakarta on Wednesday, December 17, 2025 (17/12). BEI also plans to periodically evaluate all trading boards to enhance market liquidity and support capital market depth.

FCA’s Goals vs Investor Concerns

FCA was initially launched to improve liquidity and protect investors in companies meeting certain criteria. However, some investors criticized the lack of bid and ask transparency. “Stocks in the full auction board have no bid offer. Dark, empty, hollow. Suddenly there’s a random closing, and a price forms. It really feels like lottery gambling guessing which number will rise,” said the petition creator.

PHOTO: IDXCHANNEL

This article was created with AI assistance.