Lombok. The Indonesia Stock Exchange (IDX) will publicly disclose the identities of brokerage firms under investigation for suspected trading violations as part of a broader effort to strengthen market surveillance and transparency, IDX President Director Jeffrey Hendrik said on Saturday.

Until now, investigations into unusual market activity have largely taken place behind the scenes, leaving investors and other market participants unaware of ongoing surveillance activities.

Jeffrey said the IDX would overhaul its surveillance mechanisms and technology to make investigations into suspected market manipulation more transparent and visible to the public.

"We have been using the same technology all this time, but the public apparently has been unable to follow or understand that surveillance is taking place. That is why we are changing our surveillance mechanisms and technology," Jeffrey told reporters in Lombok, West Nusa Tenggara.

Under the new system, the IDX will publicly announce suspected stock trading manipulation, including the shares under investigation, the relevant trading periods, parties suspected of involvement, and brokerage firms linked to the transactions.

"This way, the market will know that the Indonesia Stock Exchange is conducting surveillance. Those attempting to manipulate the market will realize they are being watched by the exchange and should immediately abandon such intentions," Jeffrey said.

The IDX may also take enforcement measures during investigations, including restricting trading activities in accounts held by exchange members or imposing trading suspensions.

Jeffrey said the new surveillance mechanism had already been communicated to all IDX members.

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