KSEI Prepares A Program To Prevent Double-Identity Ownership

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Skalanews – Indonesian Central Securities Depository (KSEI) is preparing a program that can prevent the stock market participants to have two different SIDs (single ID investor).

The program is targeted to be realized in the fourth quarter of 2013.

“There are some investors that have two SIDs. To prevent the SIDs to be misused we make the program. The program is named ‘Static Data Investor’ (SDI), in the fourth quarter of this year, it targeted to be run,” said president director of KSEI, Heri Sunaryadi on Monday (7/8).

Heri added that the majority of owners of multiple identities were retail investors. However, the figure was not much.

“Actually, all parties are to be blamed, whether the securities for not asking SID card that has been previously owned or being processed in our data update,” he said.

Heri explained the transition to the use of e-ID cards has made the updating process of data easier. In addition to the investors data update, KSEI will also make improvements on “next-Generation” (Next-G) storage system and capital market customer transactions settlement (The Central Depository and Book Entry Settlement System / C-BEST).

“We are doing a system repair of C-BEST next-G so that the modules in it would be better. So the level of speed and efficiency of customer transaction and data storage can be increased,” said Heri.

According to Heri, the system refresh should be done following the continued increase of domestic capital market transactions. Currently KSEI is selecting three system-vendor companies to work on the development of the system. (nra/ant)

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