CDBL server goes down, hits e-trade settlement

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FE Report
Trade settlement through the central depository system (CDS) was disrupted Monday due to a technical glitch in the server of the Central Depository Bangladesh Ltd (CDBL), officials said.
The officials of the CDBL, which is providing electronic trade settlement services, said their server went down at around 2.30 pm. It was then noticed that traded shares could not be transferred to the clearing account.
Mr. MH Samad, managing director and chief executive officer (CEO) of the CDBL, told The Financial Express that the database system failed to update the data due to a technical problem in the server.
"We are working to restore the system soon," Mr Samad told the FE at 8.20 pm.
However, he expressed his hope that the problem would be solved and the trading would not be hampered Tuesday (today).
When contacted, officials of different brokerage firms said the CDBL server failed to complete trade settlement several times earlier, but the system was restored shortly afterwards.
"We are working overnight (at 9.30pm) as the CDBL is yet to settle the trade," said a stock broker, seeking anonymity.
However, the CDBL officials could not say anything about restoration of the system till filing of this report at 9.35pm.