DSE introduces monthly fee for mobile app users

Dhaka Stock Exchange (DSE) has decided to introduce Mobile App usage monthly fee of Tk 150 per user from January 1, 2019.
"DSE TREC (Trading Right Entitlement Certificate) holders are requested to take necessary approval of monthly fee from their clients to provide DSE-Mobile app service," said a disclosure posted on the DSE website on Sunday.
Of Tk 150, FlexTrade will get Tk 100, TREC holder and DSE will get Tk 25 each, said a DSE official.
The prime bourse on March 9, 2016 launched the mobile-based share trading app and the usage of the app has been free since the introduction.
The app is available on Google Play Store and offers features to help users track the indices and get market and company information.
The application was developed by FlexTrade Systems, a global leader in broker-neutral trading platforms.
Investors, first need to register with the concerned broker, then install the app from the Google Play Store.
The app's features include market and trading statistics in real time, company information, portfolio information and company news.
In addition to buying and selling shares, the app provides some featured information, including buy or sell alerts, notifications and portfolio status to the investors, which are not easily available on the website or via brokers' services.
The number of active users of the DSE mobile application is now around 40,000.
According to DSE, the investors using DSE mobile app placed above 4.20 million orders in the fiscal year (FY) 2017-18. Of those orders, above 2.70 million were executed.
DSE officials said, the prime bourse is trying to facilitate investors through best uses of technology as investors' interest to DSE mobile app is gaining momentum.
Market experts, however, said the number of users of the app was insignificant compared with the number of beneficiary owners' accounts.
According to the Central Depository Bangladesh Limited (CDBL), which preserves electronic data of all individual and institutional investors, the total number of active BO accounts is 2,775,674 as of Sunday.
The existing transaction system does not provide instant account related information without making any call to a traders, the DSE mobile app gave that comfort to investors.
Considering the fact, the bourse is optimistic that the application will be popular gradually, the DSE official said.
Android phone 4.4-version with four inches display and 320 pixel resolutions are the minimum requirements for using the DSE Mobile app.
The application allows users to place orders directly to the bourse's server but traders and brokers are allowed to interrupt if any unusual order is placed.

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