Bourses to have uniform software on data
Friday, 15 January 2010
FE Report
The Securities and Exchange Commission (SEC) has asked the countries two bourses to develop uniform software by April 30 aiming to generate actual data on the capital market.
The move came following a SEC's meeting with the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Thursday.
The SEC said it will approve 38 pending brokerage branches within the next two weeks.
The meeting was held to sort out problem in collection of information relating to netting and margin loan from the brokerage houses by the SEC.
"Both the bourses have agreed with us to develop uniform software for the capital market. At the same time, we told them that we would approve the pending brokerage branches," SEC member Yeasin Ali told the FE.
According to decisions taken at the meeting, both the bourses will develop uniform software, which will be linked with the back-office software of the DSE members.
However, the SEC said the brokerage houses have to provide with the information on netting and margin loan on the last trading day of the month.
At the meeting, SEC chairman Zia-ul Haq Khandakar, three members Monsur Alam, Yeasin Ali and Md. Anisuzzaman, DSE president Md. Rakibur Rahman, DSE chief executive officer Satipati Moitra, CSE president Mr. Fakhor Uddin Ali Ahmed and chief executive officer Dr. Mohammed Abdullah Mamun were present.
The Securities and Exchange Commission (SEC) has asked the countries two bourses to develop uniform software by April 30 aiming to generate actual data on the capital market.
The move came following a SEC's meeting with the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Thursday.
The SEC said it will approve 38 pending brokerage branches within the next two weeks.
The meeting was held to sort out problem in collection of information relating to netting and margin loan from the brokerage houses by the SEC.
"Both the bourses have agreed with us to develop uniform software for the capital market. At the same time, we told them that we would approve the pending brokerage branches," SEC member Yeasin Ali told the FE.
According to decisions taken at the meeting, both the bourses will develop uniform software, which will be linked with the back-office software of the DSE members.
However, the SEC said the brokerage houses have to provide with the information on netting and margin loan on the last trading day of the month.
At the meeting, SEC chairman Zia-ul Haq Khandakar, three members Monsur Alam, Yeasin Ali and Md. Anisuzzaman, DSE president Md. Rakibur Rahman, DSE chief executive officer Satipati Moitra, CSE president Mr. Fakhor Uddin Ali Ahmed and chief executive officer Dr. Mohammed Abdullah Mamun were present.