Clearing company in the offing, says BSEC chief

Bangladesh Securities & Exchange Commission (BSEC) Chairman M Khairul Hossain Monday said that the country's stock market is going ahead by the hard work and dedication of stock exchanges and the securities regulator.
He said this while a 9-member delegation led by the Dhaka Stock Exchange (DSE) Chairman Justice Siddiqur Rahman met the securities regulator chairman at the BSEC office.
Mr Hossain said that the stock market depend on the country's overall economic activities.  The country's present economic indicators are good. The political field is also stable.
Referring to the demutualisation of the stock exchanges, Mr Hossain said that the brokers' community played a key role in this regard.
He also said that the DSE and BSEC are working for setting up a clearing corporation for smooth transaction in the stock market and payment for derivative instruments.
The DSE leaders greeted the BSEC chairman as the International Organisation of Securities Commissions (IOSCO) handed over the category A certificate to BSEC recently.
BSEC Chairman Professor Dr M Khairul Hossain received the certificate from the IOSCO at its annual conference, held on September 28 to October 2 in Rio de Janeiro, Brazil.

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