Indonesia Stock Exchange Introduces Non-Cancellation Period Policy

Enhancing Market Integrity

The Indonesia Stock Exchange (BEI) has implemented a new Non-Cancellation Period policy effective December 15, 2025. This regulatory measure is designed to boost investor confidence and strengthen the integrity of stock price formation. According to Jeffrey Hendrik, Director of BEI Development, the primary objective is to mitigate potential manipulation in stock price formation during the pre-opening session.

Policy Rationale and Implementation

The Non-Cancellation Period restricts investors from arbitrarily canceling their stock orders during specific times, thereby promoting more stable and transparent price discovery. While the BEI explicitly stated that this policy isn't directly targeting highly speculative stocks or 'saham gorengan,' the measure is expected to have a positive impact on curbing manipulative practices often associated with such stocks.

Market Impact and Investor Confidence

By introducing this policy, the BEI aims to create a more robust trading environment that fosters fair market practices. The restriction on order cancellations is anticipated to reduce volatility caused by speculative trading activities, ultimately benefiting long-term investors. The BEI's proactive approach demonstrates its commitment to maintaining market integrity and protecting investor interests in Indonesia's capital market.