Along with this recovering condition, Indonesian Capital Market becomes more optimists on its continuation to support market participants and to improve performance of Indonesian Capital Market, affirmed Mr. Erry Firmansyah, the Chairman of Indonesian Capital Market Reactivation 25^th Anniversary Committee.

In relation with its 25^th Anniversary, which is exactly celebrated on 10 August 2002, Indonesian Capital Market will arrange a series of events which will include participation from the whole Indonesian capital market society. Entitling “Indonesian Capital Market: Sowing to Yield” and with slogan of “Togetherness, Trustworthiness, and Disclosure”, the series of events will take place during the period of June until August 2002. “By arranging these series of events, we are trying to spread better understanding of capital market investment to the Indonesian people”, Erry announced.

Several aims of arranging this series of events of Indonesian Capital Market 25^th Reactivation Anniversary are to produce a good understanding and positive image on Indonesian Capital Market; to improve togetherness and relationship in Indonesian Capital Market; to nurture motivation for the development of Indonesian Capital Market’s performance; to create people’s need for Capital Market as a way of investment and raise funds.

The Series of Events

The Anniversary Committee has orchestrated a series of events which are Sports activities, Social activities, Education, Family Gathering, Media Relations, and Socializations. Meanwhile, the participants of these events will include the whole Indonesian Capital Market society such as Indonesian Capital Market Supervisory Agency (BAPEPAM), Jakarta Stock Exchange (JSX), Surabaya Stock Exchange (SSX), Indonesian Clearing Guarantee Corporation (ICGC), Indonesian Central Securities Depository (ICSD), Associations, and Institutions and persons which related to Indonesian Capital Market.

Road show to six (6) cities namely Jakarta, Malang, Kediri, Lampung, Palembang, and Balikpapan, is among the events which aim at improving the role of capital market. “By arranging these road shows, we hope that it will generate good understanding of Capital Market for Public Companies therefore encouraged them to utilize capital market to raise funds, and also this effort is to create domestic investor-based market hence able to become the host in its country,” said Mr. Wawan S. Setiamihardja acting as a Head Executive of 25^th Anniversary Committee.

T+3 Settlement of Transaction

As a continuance effort in line with the scripless trading implemented two years ago, the days of transaction settlement time-span is reduced into T+3 (formerly T+4), along with corresponding to the international standards (G-30), it also meant to increase liquidity and improve the competitive value of Indonesian Capital Market in Regional market. Specifically, this implementation will be able to reduce market risk in transaction settlement process.

Demutualization Business Model

Exchange Demutualization Team consisting Bapepam, and SROs (JSX, SSX, ICGC, and ICSD) has finished Business Model of Exchange. The team proposes Holding Operation Non SROs Model, which means creating a holding company which is not considered to be a SRO’s institution, meanwhile SROs and other strategic units (like for instance: PT. Information Technology for Indonesian Capital Market) will become its subsidiaries. The challenge faced by Exchange Institution to exercise program of demutualization will be further discussed in details with market participants in the near future.

E-Reporting System

Bapepam collaborated with SROs (JSX,SSX, ICGC, and ICSD) has developed an electronic system of reporting (E-Reporting System) which aims at improving efficiency, accuracy, and performance of reporting and also to increase effectivity of reporting usefulness from and to institutions in Indonesian Capital Market.

The implementation of this system is an initial phase of Management Information System development in Bapepam, which supports the activities automation in Bapepam in order to create high-quality services to public, to enhance transparency and distribution of information, to increase efficiency in activities, and to improve its accountability.