Pengembangan Infrastruktur Pasar Modal

KEBIJAKAN PENGEMBANGAN INFRASTRUKTUR PASAR MODAL
NURHAIDA
Kepala Biro Transaksi dan Lembaga Efek
Badan Pengawas Pasar Modal dan Lembaga Keuangan
1
AGENDA
1 Latar Belakang
1.
2. Strategic Management Office / Project Management Office
3 Single Investor Identity Number
3.
Single Investor Identity Number
4. Integrated Data Warehouse
5. Straight Trough Processing
6. Kegiatan Penunjang Lainnya
Latar Belakang
¾ Tuntutan ppengembangan
g
g seiringg dengan
g
perkembangan pasar lokal dan internasional
¾ Mencegah tidak terkonsolidasinya program program
pengembangan pasar yang dilakukan oleh SRO dan Bapepam‐LK
¾ Upaya efisiensi penggunaan resources yang ada
¾ Upaya untuk meminimalisir perbaikan dan
adjustment sistem dan bisnis proses yang berulang‐ulang
g
g
Strategic Management Office /
P j M
Project Management Office
Offi
¶ Penetapan kebijakan strategis terkait pengembangan
infrastruktur Pasar Modal
¶ Konsolidasi
K
lid i dan
d koordinasi
k di i setiap
ti pengembangan
b
infrastruktur Pasar Modal
¶ Mengelola dan menyelesaikan pengembangan
infrastruktur Pasar Modal dengan pendekatan project team
¶ Dipimpin oleh Ketua Bapepam dan beranggotakan
setiap unit kerja yang terkait dalam Bapepam‐LK, Bursa Efek, LKP, dan LPP
Efek, LKP, dan
Project Execution Strategy :The Governance Structure
Consolidated Market Wide
Project Strategy , Vision and
Policy Direction
Common Vision
& Communication &C
i i
Channel
Strategic Management
Office
Project Management Office
Project Management Office
Project Manager
Project 1
Macro Development Strategy
•Capital Market Master Plan
•Regional Integration Issues
Market Development Committee
Consolidated Market Wide Project
Management
Project Manager
Project 2
Detail Project Management Activity
by Individual Project Manager
PROJECT NAME
Single Investor ID and Enhancement of Disclosure
Infra for Single Investor ID
Infra for Single Investor ID
Execution Phase for Single ID
Analysis of Dormant Account
Regulatory Support
Client Asset Separation
Investor Area
Enhancement of Disclosures by End Client
Market Education Programs
Straight Through Processing, Risk Management
Risk Engine Development
Integration with Front Office ‐‐ validator
System Roll Out and Testing with Market Participant
Supporting STP Project
Implementation of Trading ID into Front Office Trading System
Clearing by SID and Security and Continous 30Min Cycles
Program Funding by KPEI with Payment Banks
Integration with Participant BO (Pilot Roll Out)
Information Warehouse
Project Vision
Discovery Phase
Logical and Physical Phase
Other S pporting Information and Monitoring Projects
Other Supporting Information and Monitoring Projects
MKBD Reporting DFOP Reporting Enhancement
PRPM Reform Strategy
PAPE
Industry Analysis
New Clearing Feasibility Analysis
Investor Protection Fund Feasibility Analysis
SRO Reform: Direct Account at KSEI for KPEI/BEI
Q409
Q110
Q210 Q310 Q410 Q111 Q211 Q311 Q411
SINGLE INVESTOR IDENTIFICATION NUMBER
sistem identitas tunggal bagi tiap investor pasar
modal.
memudahkan otoritas pasar modal melakukan
pengawasan atas
t segala
l transaksi
t
k i efek
f k yang dilakukan
dil k k
investor.
penggunaan awal sudah diterapkan dalam Investor
Area
akan digunakan dalam proses perdagangan mulai dari
pembukaan rekening, pemesan dan perdagangan,
serta penyelesaian
FORMAT INVESTOR ID YANG DIGUNAKAN DALAM INVESTOR AREA
INVESTOR AREA
Format Single Investor‐ID terdiri dari 13 digit yang terdiri dari :
Status Investor :
Client Trading‐ID
D : Domestic,
F : Foreign.
1
2
3
Tipe Investor :
ID: Nasabah Perorangan,
SC: Perusahaan Efek,
MF M t al F nd
MF: Mutual Fund,
PF: Pension Fund,
CP: Corporate,
IB: Institution Bank,
IS: Insurance,
FD: Foundation,
OT: Others.
h
(Mengikuti tipe investor yang diterapkan oleh BI).
4
5
6
7
8
Tgl. & Bln. :
Tanggal dan Bulan lahir
Tanggal dan Bulan Pendirian
Format : DDMM
9 10
11
12
13
Project Undertaken, progressing on Schedule,
requires fine tuning prior to full scale
scale, some will
require Policy Decision
Project Completed
Completed, awaiting implementation
Project in Initial Concept State
Micro Objective
Macro Objective
Intermediate/Major dependent
Project
Building Initial Template for Investor Data Requirement
Define Scope of Investors to be covered Policy Decision & Regulation on Dormant Account
Regulatory Support on SID and Investor Area Implementation
Client Asset Separation Security
Client Asset Separation Security
Monitoring of HSE Vs Client
Collateral and SLB Account at Client Level
Client Asset Separation Fund
Business Specification with Payment Banks of Client Fund Monitoring, Discussion with Regulators on Policy Approach
Move into
Full Scale
Full Scale Implementation of SID
Move into
Full Scale Monitoring of f
Client Asset
Enrichment of Investor Area
Move into
Full Scale Implementation of Funds Information
Non Payment Banks Cash Position Reporting By PE’s
Investor Protection Fund
STRA
AIGHT THRU PROCESSSING PROJEECT & INFORMATION WAR
REHOUSE
SID‐Initial
Investor Area
Education
INTEGRATED DATA WAREHOUSE
INTEGRATED DATA WAREHOUSE
™ pentingnya informasi yang kredible dan reliable, bagi
investor untuk melakukan transaksi efek dan juga bagi
regulator untuk melakukan pengawasan terhadap
semua pelaku pasar. ™ perlu adanya infrastruktur informasi pasar modal untuk
memastikan informasi yang diperoleh kredible dan reliable, maka
li bl
k pengembangan
b
i f t kt informasi
infrastruktur
i f
i
perlu dilakukan dengan memanfaatkan teknologi
informasi. ™ akan dikembangkan sistem informasi yang komprehensif
dan terintegrasi (data warehouse) antara Bapepam dan
LK serta SRO. LK serta
SRO
General Environment Information Perspective
PE
Legal Contract
Client
Customer
Information
Transaction
M
Margins
i
Trade
Confirmation
Account
Statement
Investor
A
Area
Trading
System PE
Back
B
k Offi
Office &
Accounting
System PE
Margin (incl SS)
p
Report
To BEI
Outright
Repo/SLB
Derivatives
DFOP Report
T KSEI
To
Repo report
to BEI
SLB info in KPEI
Other
Information
PLTE
Validation
System
Portfolio
Information
From KSEI
KSEI
Portfolio
Information
From PE
MKBD
Financial
Report
Monthly
Activity Report
Define Base Requirement
Comprehensive Analysis of Information Monitoring Requirement from SRO& Bapepam
Define Data Model Requirement
Enhancement of Source Data
Reforms on DFOP, MKBD, Short Sell, Margin Repo etc
Margin, Repo etc
Improve Information Quality
C ll ti
Collection and Aggregation dA
ti
Begin Consolidating Data and Build Visualization and Analytics
Enhance Business Process
Pre‐Emptive
Monitoring of PE’s Risk
Improve Market Surveillance
Data Driven Policy Construction of Data Warehouse
Data Driven Operation &
Operation & Policy Making Activity
Reform PRPM
And Enhance
And Enhance Reach Utilizing Technology
INFOR
RMATION D
DRIVEN ORG
GANISAION
N
Identification and Enhancement of Source Data
STRAIGHT TROUGH PROCESSING
o adanya tuntutan pasar untuk meningkatkan kapasitas
dan efisiensi sistem perdagangan.
perdagangan
o semakin berkembangnya perdagangan secara online
(
(online
trading)
g)
perlu didukungg oleh p
p
peningkatan
g
infrastruktur sistem perdagangan Efek yang mampu
melakukan eksekusi pesanan dan penyelesaian transaksi
secara cepat dan efisien.
o maka
akan
dilakukan
pengembangan
sistem
perdagangan Efek yang terintegrasi dari pesanan sampai
dengan penyelesaian (Straight Through Processing/STP),
Processing/STP)
yang dilakukan secara otomatis dan meminimalkan
proses manual.
Straight Trough Processing…
o akan
meningkatkan efisiensi biaya dan
mempercepat siklus proses perdagangan dan
penyelesaian transaksi efek, juga mampu
mengurangi risiko operasional yang mungkin
timbul akibat adanya intervensi proses manual
sejak terjadinya pesanan hingga proses
penyelesaian.
o akan dimulai dengan lebih meningkatkan integrasi
sistem Bursa Efek, LKP dan LPP yang sudah ada
saat ini ,yaitu sistem pesanan dan perdagangan
(JATS Next‐G), proses kliring, penjaminan dan
managemen risiko (E‐Clears), dan proses
penyelesaian dan sentral kustodian (C
(C‐BEST).
BEST).
Penggunaan SID dalam
SID dalam STP
Investor ID
Client
Single Investor ID/SID
Sub Account
1
3
4
5
6
7
8
9
10
11
12
13
14
4
1
PE AB
StockBroker
PE Non AB
Bank Kustodian
2
K
2
Investor ID
8
9
10
11
12
13
8
9
10
8
Sub Account
3
Master Investor ID
K
S
P
Investor ID
E
Investor ID
9
E
I
I
Sub Account
5
Settl. A/C
Sub Account
7
Settl. A/C
6
Coll. A/C
Coll. A/C
B
U
R
S
A
E
F
E
K
11
Investor ID
12
13
15
Transactional Infrastructure & Information Infrastructure Enhancement
Front Office – Back Office
PE Integration
Implementation of Trading
ID
Trading ID
Investor Area Information Client
Registration
Administration
• Membership stratification by Capital and Risk
Integrated & Multiproduct Trading System.
Payment System Integration
Surveillance Enhancement
Order
Validation
Matching
S T P
• Client Level Clearing/Settlement.
• Collateral Management at Client Level
Confirmation/
Clearing
Affirmation
Settlement
Monitoring & Surveillance (Information Warehouse)
Implementation of ‘Master Client ID’
Enhancement of Disclosure
Risk Management System Enhancement
Pre‐Order Validation
Central Clearing to Sec Firms
Pre‐Order Validation
Sec Firms to Client
Electronic allocation, confirmation/ affirmation
Integration Sec Firms with SRO System
1
Intra Day Funding
Program
Continuous 30 Minutes Clearing Cycle
Development of Clearing Logic at Client Level
Enhancement of Risk Management
h
f k
Development of New Risk Engine and Monitoring Framework
g
Prepare Environment
Environment towards Full Fledge STP
Greater Risk Greater
Risk
Monitoring Capabilities and Capital Management
Development of Pre‐Deal Limit Management
Pre‐
emptive Action
System Integration
Build Risk Validator into the Current Trade Flow
Usage of SID Into Trading System
Development of Integration Framework/Messaging with Participants Back Office
Reduce Reduce
Redundant & Manual Process and Improve Turn Around Time
Time MA
ARKET WIDE STRAIGHTT THRU PRO
OCESSING PROJECT
STP‐Business Process Reengineering
KEGIATAN PENUNJANG LAINNYA
KEGIATAN PENUNJANG LAINNYA
• Kegiatan
g
yyang terkait
g
erat dan diperlukan/penting
p
/p
g dalam
pengembangan infrastruktur Pasar Modal Indonesia
• Kegiatan penunjang mencakup:
Penyusunan Pedoman Akuntansi Perusahaan Efek (PAPE)
Pelaporan Modal Kerja Bersih Disesuaikan (MKBD)
Pengembangan Pelaporan Delivery Free of Payment (DFoP)
Reformasi Pusat Referensi Pasar Modal (PRPM)
Analisis Kinerja Perusahaan Efek
Partisipasi Kliring dengan Skema Baru
Partisipasi Penjaminan dengan Skema Baru dan Kebijakan Pre‐
emptive Action
– Pembentukan Dana Perlindungan
Dana Perlindungan Pemodal
– Pembukaan Rekening BEI dan KPEI di KSEI
–
–
–
–
–
–
–
Industry Restructuring Analysis
Comprehensive Analysis of PE from Business, Technology, Distribution Channel
Greater Understanding of Industry
of Industry Issues and Prepare Policy Strategy
Risk Capital MKBD Reform Policy
Reforms on Minimum Regulatory Standards on AB: Business and Technology (V D 3 V D 4 V D 5)
(V.D.3,V.D.4, V.D.5)
Propose New Strategies for Market Stratification & Reform
Membership M
b hi
Minimum Standards for AB’s
Potential P
t ti l
Introduction of New Clearing Scheme
Potential
Potential Inclusion of Custodian Institution as Clearing Agent
New Guarantee Scheme
Investor Protection Fund
Improve Standards of Market Intermediaries
Create A Vibrant Industry and Improve Channel
MARK
KET REFORM
M
Regulatory Reform
T i
Terima
K ih
Kasih