CSE to hold Internet Trading Fair in October

The Chittagong Stock Exchange (CSE) will organise a two-day fair on stock trading through internet, titled Internet Trading Fair, by the end of next month to make internet trading popular among investors.
CSE managing director Syed Sajid Husain disclosed this at a press briefing at the bourse's Dhaka office, organised in line with its plan of holding regular briefings on every first and third Monday of each month.
He said the internet trading system (ITS) is yet to get popularity among the investors though CSE launched the service in 2004. Mock transactions through the bourse's ITS will be showed to the investors at the fair.
"Now-a-days, most of the investors have smart-phone. One can trade from his home or wherever he is using smart-phone, laptop, IPAD or computer."
He said stalls will be kept in the fair for the CSE TREC (trading right entitlement certificate) holders, different IT firms and financial institutions.
About the strategic partners of the demutualised stock exchange, he said they are still looking for potential strategic partners for the bourse, mostly overseas, in line with its demutualisation scheme.
As per the demutualisation scheme, approved by the Bangladesh Securities and Exchange Commission (BSEC) on September 26, 2013, the board of the exchange will comprise of 13 members.
Presently, the post of strategic partner remains vacant, and it is running with 12 members.
Mr Sajid also informed that the port-city bourse is also working for introduction of three indices - CSE benchmark index, CSE IPO index and Shariah index - as part of its business plan.
"We are holding talks with the National Stock Exchange (NSE) of India, and a team of NSE will make a presentation on the indices to the securities regulator by the end of this month."
Mr Sajid said Bangladesh stock market is mainly equity-based, and it is not possible to develop a rich capital market depending on equity only.
"Diversified products, such as - derivatives, are essential to make a stock market vibrant."
Replying to queries, he said although the stock exchanges are considered as primary regulators, they cannot take actions against irregularities, especially in listing, due to various limitations in rules and regulations.
The CSE MD said they have already sent a proposal to the securities regulator for changing the existing listing regulations, and it is now under consideration of BSEC. The modifications will allow the bourses to take actions against issuer companies or auditors or issue managers.
He also said although there is a regulatory provision for maintaining websites by the listed companies, there are many firms whose websites are either temporarily down or still under construction.
"There is also lack of seriousness among the stock exchanges to supervise compliance of the regulatory directives."
Mr Sajid stressed the need for investors' education for the sake of minimising their investment risks. He urged the government to include the stock market-related topics in textbooks of various levels.
The asset management companies should also organise awareness programmes for creating demand for mutual funds and making these popular among the investors, he added.