August 20, 2026 | 04:41 pm
TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) plans to adjust the minimum price limit for shares traded on the regular and cash markets from the current Rp50 per share to Rp1 per share.
IDX President Director Jeffrey Hendrik said the policy aims to provide a broader transaction space and improve the market's price discovery process. "To provide better access to liquidity and price discovery, we will remove the minimum price limit of Rp50," Jeffrey told the media in Jakarta on Thursday, August 20, as quoted by ANTARA.
Jeffrey confirmed that the IDX had held discussions with the Indonesia Securities Companies Association (APEI) and the Indonesian Investment Managers Association (AMII) on Wednesday to gather responses from market players.
Additionally, he confirmed that the IDX had held discussions with global investors."Yesterday, August 19, we held discussions with APEI and AMII to get a response from stock market players. We also held discussions with global investors," said Jeffrey.
Regarding the implementation of the minimum share price limit of Rp1, he said details would be announced after gathering input from market players and assessing the readiness of trading platforms at Exchange Members. "Details will be provided later after gathering input from stakeholders and assessing the readiness of the trading platforms at Exchange Members," Jeffrey said.
Based on the information gathered, the change in the minimum price limit allows shares currently at the Rp50 level to be traded within a wider price range.
The IDX estimates that transaction frequency and value could increase two to threefold if shares currently traded through call auctions on the Special Monitoring Board could enter the regular market through a continuous auction mechanism.
In addition to adjusting the minimum price limit, the IDX plans to change the classification of auto-rejection limits. To lower the auto-rejection rate (ARB), shares priced at Rp1-Rp10 will use a limit of Rp1 based on the nominal value rather than a percentage. Meanwhile, shares in the Rp11–200, Rp201–5,000, and Rp5,000-and-above ranges will have an ARB of 15 percent.
As for the upper auto-rejection limit (ARA), the limit for stocks priced at Rp1-10 will be Rp1, based on their nominal value. Stocks in the Rp11-200 range will have an ARA of 35 percent, those between Rp201-5,000 will have a 25 percent ARA, and stocks above Rp5,000 will have a 20 percent ARA.
For your information, the current regulations set the ARB at 15 percent for the entire price range. Meanwhile, the ARA is set at 35 percent for shares priced between Rp50 and Rp200, 25 percent for shares priced between Rp201 and Rp5,000, and 20 percent for shares priced above Rp5,000. At that time, the provisions also did not specifically regulate the ARA limit for shares ranging from Rp1 to Rp10.
In line with this plan, the IDX also plans to remove several criteria for the Special Monitoring Board. This step is intended to align these criteria with the planned changes to the minimum price limit.
In the IDX regulations, two criteria will be removed: criterion 1, which concerns shares with an average price below Rp51 and low liquidity in the last three months, and criterion 11.2, which concerns issuers that no longer meet the other Special Monitoring Board criteria but whose share price has not yet reached Rp50.
The changes to the minimum price limits in the regular and cash markets, as well as the new auto-rejection classification, are scheduled to be trialed with exchange members on August 22 and 29, 2026.
The IDX targets these changes to be implemented starting September 7, 2026.
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