Indonesia Stocks Exchange
Previously known as the Jakarta Stocks Exchange, the Indonesian Stocks Exchange is based in Jakarta, Indonesia and has a market capitalization of $347 billion. The exchange was formed after the merger between two of the main exchanges in Indonesia that were; Jakarta Stocks Exchange and Surabaya Stocks Exchange in 2007. As of end of 2016, the exchange had over 537 listed companies and 500, 037 domestic investors based on the Single Identification Number. 487, 713 of these were single investors while the rest were institutional based. The exchange operates two major stocks indexes. The indexes are the Jakarta Composite Index and the Jakarta Islamic Index (JII). The Jakarta Islamic Index was established in 2002 and was meant to act as a benchmark index for market activities that were based on Islamic law. Currently, there are over 30 corporate stocks listed on the Jakarta Islamic Index. Besides the two main indices, the Indonesian Stocks Exchange also has 4 other indexes namely: Sector Stocks Price Index, LQ 45 Index, Main Board and Development Board Indices and Individual Index. Currently, Indonesia has an OTC securities lending market. However, it is the untested nature of this market that has raised questions about how big or how small the market could be.