IDX-certified brokerage office system
alternate cash settlement penalty on a failed delivery
live in production today, and T+0 ready
week go-live, ~70% out-of-the-box functionality
Front and back office stitched together, evidence assembled by hand
Overnight batches, next-morning breaks, ACS exposure on every fail
Investor, ownership and free-float data pulled from spreadsheets
Retail volume growing faster than the operations headcount
Certified, with IT controls evidenced
Real-time validation at capture and intraday KPEI reconciliation
SID, ownership and regulatory data generated from the settlement record
Volume absorbed by configuration, not by hiring
IDX assesses member systems against its BOFIS standardisation and IT-governance guidelines, and has issued written sanctions where implementation was inconsistent. On NOVA: a certified platform with role-based entitlements, maker-checker and a system-generated control trail, so an inspection is a report, not a project.
The OJK, IDX and KSEI task team is pushing ownership transparency, free-float rule changes and far more granular investor data, with tens of thousands of SIDs to reclassify against a fixed submission window. On NOVA: SID, beneficial-ownership and client-classification data sit on the same record as positions, so KSEI submissions are extracted, not reassembled.
IDX equities stay T+2 with no announced T+1 date, while your US flow settles T+1 today and the UK, EU and Switzerland cut over in October 2027. Two cycles, one KPEI netting deadline, one ACS exposure. On NOVA: T+2, T+1 and T+0 run side by side on one book of record, with fail scoring before each cut-off.
Nasdaq is targeting a 23-hour, five-day session with DTCC extending clearing to match, which erases the Jakarta overnight batch window for anyone holding US lines. On NOVA: continuous processing with no end-of-day dependency, and corporate actions and cash applied as they arrive.
Crypto-asset supervision has moved to OJK, putting digital assets under a securities-grade reporting regime. On NOVA: tokenised instruments and crypto transfers clear on the same ledger as equities and bonds, and agentic exception triage with ML-assisted matching keeps reconciliation error rates below 1%, configurable, and fully audited.
95-98%
Straight-through processing achieved
20-40%
TCO reduction via STP and vendor consolidation
25-50%
lower labour cost in reconciliation & exceptions
12-18mo
Typical payback on targeted automation
01
IDX BOFIS certification already in hand.
02
Breaks caught intraday, before the settlement cut-off.
03
Growth absorbed on unchanged headcount.
04
Reporting and audit trail generated from the settlement record.
05
Zero upfront fee, modular go-live, no rip-and-replace.