Capital Market Technology

FIX (Financial Information eXchange) is the industry-standard messaging protocol for electronic trading covering order entry, execution reports, and market data. Brokers use FIX 4.4 or 5.0 for IDX JATS connectivity, with co-location achieving latency under 1 millisecond. FIX engines like QuickFIX translate orders from the OMS into JATS-compatible format.

Pre-trade risk checks verify every order against configured limits before it reaches the exchange: maximum order value per client, cumulative position limits, day trading limits, and concentration limits. The RMS automatically rejects non-compliant orders with clear reject reason codes. Post-trade monitoring tracks realized exposure and triggers alerts for limit breaches.

Indonesia uses T+2 settlement through KPEI (clearing house) and KSEI (central securities depository). The process involves trade matching on trade date, clearing by KPEI on T+1 morning, settlement instruction to KSEI, and final settlement by T+2 end of day. Failed trades trigger buy-in procedures and penalty calculations.

POJK 23/2017 requires securities firms to have: primary and disaster recovery data centers, business continuity plans tested annually, information security management systems, incident response procedures, electronic data preservation, and regular IT audit reports submitted to OJK. The regulation also mandates minimum technology governance standards for board-level IT oversight.

Algorithmic trading implementation requires: co-location services at IDX data center for minimal latency, market data feed handlers, algorithm development and backtesting platforms, FIX engine configuration for automated order routing, and specialized risk controls including kill switches, rate limits, and price collars. All algorithms must pass pre-production testing and certification before going live.

We usually use a parallel-run approach so the old and new systems operate together during transition, reducing downtime and data risk.

Yes. We design API and import workflows for POS, marketplaces, and bank statements to reduce manual entry and reconciliation errors.

The right choice depends on transaction volume and complexity. We assess your workflow before recommending cloud accounting, POS, ERP, or dashboard tools.