Islamic Based Transactions

SHARIAH ONLINE TRADING SYSTEM (SOTS)

Shariah Online Trading System (SOTS) is an online Islamic transaction system that meets the Islamic‘s principles in the capital market. SOTS is developed by exchange members as a facility or tool for investors who want to conduct stock transactions in Islamic. SOTS is certified by DSN-MUI as describing on Fatwa DSN-MUI No. 80 of 2011 about the Implementation of Islamic Principles in Equity Securities Trading Mechanism in the Regular Market of Stock Exchange.

The main features of SOTS are as follows:

1. Only Islamic stocks can be traded

2. Islamic stocks purchase transactions only can be made in cash (cash-basis transaction) so there isn’t margin transaction (margin trading)

3. Selling transactions of Islamic stocks that is not owned can't be done (short selling)

4. Islamic stocks ownership report is separated by fund ownership, Islamic stocks owned are not counted as capital (fund).

Currently there are 13 Exchange Members who already have SOTS, as follow: