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"ABSTRAKMenentukan keputusan yang tepat dalam trading saham bukanlah hal yang mudah untuk dilakukan dikarenakan pergerakan harga saham yang sangat dinamis, apabila salah langkah maka yang didapat adalah kerugian. Untuk menentukan tindakan yang tepat dalam trading saham, investor dapatmenganalisis saham yang akan diinvestasikan terlebih dahulu agar mendapatkan keuntungan yang besar. Analisis yang dapat dilakukan adalah teknikal analisis saham dengan menggunakan berbagai indikator yang ada. Pada skripsi ini, akan dibahas penggabungan enam indikator analisisteknikal saham, yaitu Simple Moving Average, Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator (SO) yaitu %D dan %K, dan William %Rdengan menggunakan metode Computational efficient functional link artificialneural network (CEFLANN). Melalui metode ini, akan didapatkan rekomendasi berupa keputusan untuk jual, tahan, atau beli dan ketepatan akurasi rekomendasi yang diperoleh untuk jangka waktu satu minggu adalah 73,3%.

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ABSTRACTDeciding the right strategy in stocks trading is not an easy thing to be done because the stock prices movement, a little mistake can lead a huge loss. To determine the appropriate decision, investors can analyze the behaviour of targeted stocks first for gaining high profit . One of the method of analysis which can be performed is the technical stock analysis using various existing indicators. This undergraduate thesis will discuss about the combination of six indicators in technical analysis by using Computational efficient functional link artificial neural network (CEFLANN). The six technical indicators is Simple Moving Average, Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator (SO) yaitu %D dan %K, dan William %R. By usingthis method, investors will find the recommended decision on stocks trading, such as sell, hold, or buy and the accurate of the decision in one week is 73,3%."

"Mengambil keputusan yang tepat dalam trading saham bukanlah hal yang mudah untuk dilakukan, apabila salah langkah maka yang didapat adalah kerugian. Untuk menentukan tindakan yang tepat dalam trading saham, investor dapat menganalisis saham yang akan diinvestasikan terlebih dahulu. Analisis yang dapat dilakukan adalah analisis teknikal saham dengan menggunakan berbagai indikator yang ada. Pada skripsi ini, akan dibahas penggabungan empat indikator analisis teknikal saham, yaitu Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator (SO), dan On-Balance Volume (OBV) menggunakan metode fuzzy logic. Melalui metode ini, akan didapatkan rekomendasi berupa keputusan untuk jual, tahan, atau beli berdasarkan empat indikator yang ada pada saat itu.

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Deciding the right strategy in stocks trading is not an easy thing to be done, a little mistake can lead a huge loss. To determine the appropriate decision, investors can analyze the behaviour of targeted stocks first. One of the method of analysis which can be performed is the technical stock analysis using various existing indicators. This undergraduate thesis will discuss about the combination of four indicators in technical analysis using the Fuzzy Logic Method. The four indicators are Moving Average Convergence/Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator (SO), and On-Balance Volume (OBV). By using this method, investors will find the recommended decision on stocks trading, such as sell, hold, or buy based on the four existing indicators."

"Stock Split is one of popular corporate action in capital market. Stock Split is the split of a company's existing stock into more shares. Each stockholder would receive an additional share for each share formerly held depend on the ratio of the split. The implication of the stock split is the pace of the stock becomes cheaper than before, this is something worth for the investors. Furthermore, the demand for the stock will be higher, and the price of the stock will up to certain level which means profitable for the investors. Liquidity is the most mainly listed companies's motivation within stock split, since liquidity is the central theme in the secondary market.This research will examines some problems within stock split are :1. Does stock split influences the stock price changes?2. Does composite stock price indices influences the stock price changes?3. Does earning per share influences the stock price changes?Regarding those problems mentioned above, the objective of this research are :1. Analyzing the influence of stock split to the stock price changes.2. Analyzing the influence of composite stock split indices to the stock price changes.3. Analyzing the influence of earning per share to the stock price changes.The period of the stock split study started from January 1 until December 31 on the year 2000. The samples which is used in the study are the stock listed in the Jakarta Stock Exchange minimum 7.5 months before the effective date of the stock split. The study period in this research from July 1 1999 until April 30, 2001. The study period started 7.5 months before the first listed company announce the stock split in the year 2000 and 4.5 months after the last listed company announce the stock split in the year 2000.The Signaling Hypothesis Theory is the foundation of the research, which indicate the stock split announcement intended to rise a positive signal to the investors. A good prospect of the company is something managements objective of the announcement of stock split. In this scheme, stock split will increase the value of the company.Based on the test and analysis of the statistical result, founded some conclusions which are :1. Stock split during the year 2000 has no positive response from investors. It indicates investors judge the stock split has no influence to company's growth profitability signal for the future.2. During study period, earning per share and earning per share changes significantly correlate to the changes of stock price. This result support the previous research such as Benston (1966), Ball & Brown (1988), and Beaver (1968), where earning per share (EPS) as an accounting profit measurement has a significant influence to the changes of stock price.3. Composite stock price indices (IHSG) variable has no significant influence to the relative stock price changes, nevertheless the changes of composite stock price indices's variable has a significant influence to the relative stock price changes.4. All of the independent variables those are earning per share, composite stock price indices, and stock split together have a significant influence to the relative stock price changes.Based on the conclusion above, researcher gives any suggestions or recommendations to the party related the stock split concern to the investment activity at Jakarta Stock Exchange, those are :1. Timing is a determinant factor for the successful of stock split. Successful timing will determined the liquidity of the stock after stock split. For certain level, bearish market will not support the liquidity of the stock after stock split. That's why maintaining the market psychology for the company is relevant.2. Since investing in the common stock related to the prospect of the company, management must consider and managing the fundamental of the company before making a planning of stock split. Prospective fundamental will support the effectiveness and successfull of the stock split.3. Regarding the decrease of the volume of stock trading, management must aware the the decreasing the value of the stock price, which means management must maintain the appropriate level due to the company's performance. Periodic evaluation of the stock price changes must be scheduled.4. During the study period, researcher find an anomaly due to Signaling Hypothesis Theory. For that reason, based on the theory of Efficient Capital Market, stock split should be implemented for the atmosphere of efficient market On that, stock price reflected the real market reaction under stock split.5. Stock split still remain a puzzling phenomenon to financial analyst and also researchers. That's why, next researchers which cover wider data and period including bullish and bearish market are highly importment to discover the phenomenon of stock split."

"Skripsi ini membahas mengenai pengaturan perdagangan saham Equity-Based Crowdfunding (ECF) dalam Pasar Sekunder di Indonesia. Kegiatan ECF sebagai salah satu bentuk pengembangan teknologi finansial baru saja diatur dalam POJK No. 37/POJK.04/2018  Tentang  Equity Crowdfunding. Kegiatan ECF mempunyai risiko ilikuiditas saham dimana investor akan sulit untuk memperdagangkan sahamnya. Risiko tersebut dapat ditanggulangi dengan adanya pelaksanaan pasar sekunder. Namun sayangnya, POJK 37/2018 belum secara spesifik mengatur mengenai pasar sekunder bagi ECF dan pelaksanaan pasar sekunder bagi ECF di Indonesia belum ada. Berdasarkan hal tersebut, penulis membandingkan pengaturan ECF khususnya dalam pengaturan dan pelaksanaan pasar sekunder ECF dengan Korea dan Inggris. Penulis merumuskan masalah menjadi 1. Bagaimana pengaturan mengenai ECF pada negara Korea, Inggris, dan Indonesia ? 2. Bagaimana perbandingan mengenai perdagangan saham dalam pasar sekunder untuk kegiatan ECF di negara Indonesia, Korea dan Inggris ? 3. Bagaimana seharusnya pengaturan tentang pasar sekunder di kegiatan ECF? Penulis membuat tulisan ini dengan metode penelitian yuridis-normatif. Penulis berkesimpulan bahwa Indonesia dapat memperbaiki ketentuan memperdagangkan saham dalam pasar sekunder ECF dengan mencontoh dari segi pengaturan, pelaksanaan, dan pengawasan pasar sekunder bagi ECF yang Korea dan Inggris lakukan.

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This thesis discusses the regulation of Equity-Based Crowdfunding (ECF) stock trading in the Secondary Market in Indonesia. ECF activities as a form of development of financial technology have just been regulated in POJK No. 37/POJK.04/2018 About Equity Crowdfunding. The ECF activity has the risk of illiquidity of shares where investors will find it difficult to trade their shares. This risk can be overcome with the implementation of the secondary market. Unfortunately, POJK 37/2018 has not specifically regulated the secondary market for the ECF. The implementation of the secondary market for ECF in Indonesia does not yet exist. Based on this problem, the author compares the ECF settings specifically in the regulation and implementation of the secondary market with Korea and the United Kingdom. The author formulates the problem to 1. How are the arrangements regarding ECF in Korea, UK and Indonesia? 2. What is the comparison regarding stock trading in the secondary market for ECF activities in Indonesia, Korea and the UK? 3. What should be the regulation of the secondary market in ECF activities? The research method for this thesis is normative legal research. The author concludes that Indonesia can improve the provision of trading shares in the ECF secondary market with take example from regulation, implementation, and supervision on secondary market for ECF as Korea and UK do."

"Tujuan utama tesis ini adalah untuk mengetahui pola perdagangan saham intrahari ditinjau dari return dan volatilitasnya, mengetahui adanya day of the week effect dan time of the day effect serta melihat perbedaan return antar hari perdagangan dan antar interval waktu 30 menit pada 5 fraksi perdagangan di Bursa Efek Indonesia. Hasil penelitian ini menunjukkan bahwa return kelima kelompok fraksi perdagangan membentuk kurva yang tidak seragam. Return kelompok fraksi perdagangan Rp1 membentuk kurva W, kelompok fraksi perdagangan Rp5, Rp10 dan Rp25 membentuk kurva J sedangkan kelompok fraksi perdagangan Rp50 membentuk kurva U. Ditinjau dari volatilitasnya, kelima kelompok fraksi perdagangan membentuk kurva yang sama yaitu kurva U. Dengan adanya perbedaan pola perdagangan ini maka investor dapat menetapkan strategi investasi yang tepat yaitu waktu terbaik untuk melakukan transaksi (buy/sell) dan kelompok fraksi saham yang direkomendasi dan yang dihindari. Selain itu penelitian ini juga membuktikan adanya pengaruh signifikan dari pergerakan return saham baik berdasarkan periode hari maupun interval waktu 30 menit terhadap return saham. Dengan demikian hal ini membuktikan adanya day of the week effect dan time of the day effect pada semua kelompok fraksi perdagangan. Penelitian ini juga membuktikan adanya perbedaan return yang signifikan baik antar hari perdagangan maupun antar interval waktu 30 menit.

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The main objective of this thesis is to determine stocks Intraday trading patterns in terms of returns and volatility by examining the day of the week effect and time of the day effect as well as investigating the return difference among trading days and among interval of 30 minutes for 5 fractions of trading in the Indonesia Stock Exchange.

The results indicate the return curves of the five trade fractions group are not similar. The returns of trade fraction group Rp1 form W-curve, trade faction group Rp5, Rp10 and Rp25 form J-curve, while trade fraction group Rp50 form the U-curve. However, the volatility of the five groups forms identical curve that is U-curve. By taking into account the differences in the pattern of trade, investor can determine proper investment strategy that is the best time to do the transaction (buy/sell) and the fraction of shares that are recommended and which to avoid.

In addition, this study demonstrates the existence of significant influence from either the movement of stock returns based on the period of the day and 30-minute intervals of stock return. Thus, the evidence supports the existence of day of the week effect and time of the day effect on all groups of trading fraction. The findings show the existence of significant return differences either between day trading and inter-interval time of 30 minutes."

"Memiliki model prediksi yang baik akan memberikan keuntungan tersendiri bagi investor dan perusahaan dalam mengambil keputusan. Support Vector Machine SVM adalah salah satu algoritma pembelajaran mesin yang diawasi yang dapat digunakan untuk klasifikasi atau regresi. Banyak penelitian menunjukkan bahwa prediksi menggunakan model Support Vector Machine SVM lebih akurat daripada model lainnya. Penelitian terbaru menunjukkan bahwa kinerja tertinggi dari sistem prediksi terjadi ketika periode input indikator teknikal sama dengan periode perkiraan. Dengan menggunakan kombinasi dari periode perkiraan dan periode input indikator teknikal dengan kerangka waktu yang lebih banyak dan Support Vector Machine SVM , penelitian ini ingin mengetahui seberapa besar akurasi yang dihasilkan SVM untuk memprediksi pergerakan harga saham-saham di pasar Indonesia, apakah kinerja tertinggi dari sistem prediksi terjadi ketika periode input indikator teknikal sama dengan periode perkiraan, dan apakah aplikasi penggunaan SVM untuk perdagangan dapat memberikan hasil yang lebih baik dibandingkan strategi buy and hold. Data transaksi saham yang kami gunakan dari Maret 2006 hingga Februari 2018 untuk tiga puluh satu saham perusahaan dan menggunakan kombinasi dua puluh delapan periode perkiraan dan tiga puluh periode input indikator teknikal. Hasil penelitian yang diperoleh yaitu model prediksi dapat memberikan hasil akurasi yang baik karena sebanyak 25 dari 31 saham memberikan hasil akurasi lebih dari 50 tetapi kinerja tertinggi model prediksi tidak terjadi saat periode input indikator teknikal sama dengan periode perkiraan dan diperoleh 21 saham yang memberikan imbal hasil signifikan ketika menggunakan aplikasi model prediksi SVM untuk melakukan perdagangan dibandingkan strategi buy and hold.

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Having a good predictive model will provide its own advantages for investors and companies in making decisions. Support Vector Machine SVM is one of the supervised machine learning algorithms that can be used for classification or regression. Many studies have shown that predictions using the Support Vector Machine SVM model are more accurate than other models. Recent research shows that the highest performance of the prediction system occurs when the technical indicator input period is equal to the forecast period. Using a combination of forecast periods and technical indicator input periods with more time frames and Support Vector Machine SVM , this study wanted to know how much accuracy SVM generates to predict the movement of stock prices in the Indonesian market, what is the highest performance of the prediction system occurs when the technical indicator input period is equal to the forecast period, and whether the application of SVM usage for trade can give better results than the buy and hold strategy. We used stock transaction data from March 2006 to February 2018 for the thirty one shares of the companies and using a combination of twenty eight forecast periods and thirty periods of input of technical indicators. The result of the research is prediction model can give good accuracy result because 25 of 31 stocks give accurate result more than 50 but highest performance prediction model does not occur when technical indicator input period is same with forecast period and 21 stocks yield return significant when applying SVM prediction model to trade compared to buy and hold strategy."

"ABSTRACTSkripsi ini menganalisa metode machine learning menggunakan HiddenMarkov Model (HMM), yang merupakan alat prediksi stochastic dan probabilitidigunakan untuk mengevaluasi gerakan di dalam pasar valuta asing. Skripsi inimembahas khususnya penerapan metode HMM di pasar valuta asing sebagai alatuntuk memprediksi pergerakan dan hasil dari nilai tukar di dalam pasar, kemudianmenganalisis data yang tersedia, dan akhirnya membuat keputusan berdasarkanhasil yang diperoleh. Data yang digunakan adalah data harga penutupan padapasar valuta asing AUD/USD dalam dua jangka waktu yang berbeda, hargapenutupan per 1 jam dan per 15 menit, dan data yang digunakan diperoleh daribeberapa sumber online. Analisis awal menunjukkan beberapa faktor eksternaldapat mempengaruhi keakuratan hasil. Hasilnya mengindikasi, dengan tidakmemperhitungkan factor-faktor luar lainnya, akurasi yang lebih baik didapatsewaktu menggunakan haraga penutupan jangka waktu yang lebih pendek.

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ABSTRACTThis bachelor thesis analyses the method of machine learning usingHidden Markov Model, which is a predictive stochastic and probability tool inorder to evaluate the movement inside the foreign exchange market. This paperdiscusses particularly the application of HMM method in the forex (foreignexchange) market, as the tool for forecasting the movement and the outcome ofthe exchange rate inside the market, analyses them, and finally making a decisionbasing on the obtained outcomes. The data used are the closing price of theAUD/USD forex market in two different timeframes, per hour closing price andper 15 minutes closing price, and was obtained from several online foreignexchange sources. Initial analysis suggests several external factors may affect theaccuracy of the results. The results indicate, excluding any external factors, betteraccuracy was obtained when shorter closing price timeframe was used."

"Laporan magang ini membahas mengenai analisis penentuan trading limit [R1], pemberian fasilitas pembiayaan transaksi saham dan fasilitas repo saham khususnya terhadap nasabah ritel di PT. CIMB Securities Indonesia PT. CSI . PT. CIMB Securities Indonesia memiliki framework [R2] dalam penentuan trading limit, pemberian fasilitas pembiayaan transaksi saham, dan fasilitas repo saham kepada nasabah ritelnya. Analisis yang dilakukan melalui penelaahan Standar Operasional Prosedur perusahaan yang berkaitan dengan Trading Limit,[R3] Fasilitas Pembiayaan Transaksi Saham, dan Fasilitas Repo Saham yang tertuang dalam Credit Control Policies and Procedures PT. CIMB Securities Indonesia. Selain itu hasil analisis juga mengacu kepada hasil pemeriksaan oleh Bursa Efek Indonesia terhadap PT. CIMB Securities Indonesia selaku angota bursa. Berdasarkan hasil analisis, dapat disimpulkan bahwa pada proses penentuan trading limit, pemberian fasilitas pembiayaan transaksi saham, dan fasilitas repo saham masih terdapat beberapa hal yang belum sesuai dengan Standar Operasional Perusahaan dan diperlukannya peningkatan kualitas manajemen risiko di PT CIMB Securities Indonesia. [R1]Cetak miring [R2]Cetak miring [R3]Cetak miring.

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This report discusses the analysis of the determination of trading limit, the provision of financing facility of stock transaction and repo stock facility mainly to the retail customer in PT. CIMB Securities Indonesia. PT. CIMB Securities Indonesia has a framework for determining trading limits, providing share financing facilities and repo share facilities to the retail customers. Analysis conducted through the review of Standard Operating Procedures of the Company related to Trading Limit, Financing Facility of Stock Transaction, and Repo Share Facility as stipulated in Credit Control Policies and Procedures PT. CIMB Securities Indonesia. In addition, the results of the analysis also refer to the results of the examination by the Indonesia Stock Exchange against PT. CIMB Securities Indonesia as a member of the stock exchange. Based on the result of the analysis, it can be concluded that in the process of determining the trading limit, the provision of financing facility for stock transactions, and repo stock facilities there are still some things that are not in accordance with the Standard Operating Companies and the need to improve the quality of risk management at PT CIMB Securities Indonesia."

"Ozonasi merupakan teknik oksidasi kimiawi yang menggunakan ozon sebagai oksidator kuat untuk mendegradasi fenol. Namun ozon memiliki kelarutan yang rendah. Berbagai riset menunjukkan bahwa kavitasi (hidrodinamika maupun ultrasonik) dapat meningkatkan kelarutan ozon, dan meningkatkan laju penyisihan fenol. Pada penelitian ini dilakukan analisis signifikansi parameter intensitas dan konsentrasi awal fenol yang berpengaruh terhadap persentase penyisihan fenol dengan menggunakan metode ANOVA. Dari penelitian yang dilakukan, parameter yang paling signifikan adalah intensitas ultrasonik. Kombinasi parameter yang paling baik untuk proses gabungan ozonasi-kavitasi hidrodinamika dan ultrasonik adalah pada konsentrasi awal fenol 10 ppm, laju alir gas 200 L/jam, dan intensitas ultrasonik 60%.

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Ozonation is one of chemical oxidation method that uses ozone as strong oxidizer for degradating phenol. But, ozone has low solubility in water. Many research show that cavitation (either hydrodynamic or ultrasonik) gives better solubility of ozone, and increase the rate of degradation.

In this study, signification analysis of ultrasonik intensity and initial concentration of phenol that affect the percentage of degradated phenol was conducted by using ANOVA.

The result shows that the ultrasonik intensity is more significant. The optimum combination variation parameter for ozonation-catitation (ultrasonik and hydrodynamic) are on initial concentration of phenol 10 ppm, gas flow rate 200 L/jam, dan ultrasonik intensity 60%."