DSE launches new surveillance software
FE Report | Wednesday, 12 February 2014
The Dhaka Stock Exchange (DSE) Tuesday formally launched its new state-of-the-art 'InstantWatch Market Surveillance Software' in an effort to detect manipulative stock transactions in the secondary market.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof. M Khairul Hossain inaugurated the new software on the DSE premises as chief guest.
"The installation of the software is a new addition of the development of the capital market. It will enhance the capacity of the DSE to detect suspicious transactions," Mr Khairul Hossain told journalists after inauguration of the software.
He said that the new software will also help to establish more transparency and accountability in stock market adding that it will also enhance self surveillance within the broker members' of the DSE.
"As the surveillance software is capable of detecting various types of manipulative transactions, it will help establish more transparency in share trading at the bourse," said Mr Hossain.
Market operating system and technical devices are updated gradually and to adjust modern version of technologies to increase good corporate governance of the stock market, he said.
He also informed that after installation of the BSEC's 'InstantWatch Market Surveillance Software' last year, they identified 44 kinds of market manipulations.
DSE president Ahasanul Islam Titu said that it will ensure better surveillance and to help establish more transparency and accountability in stock market.
On November 18, 2012, the DSE inked an agreement with Trapets AB (a Swedish IT Firm) and CIBL Technology Consultants Ltd (local partner) to install the surveillance software in the premier bourse.
BSEC commissioners Md. Helal Uddin Nizami, Md. Amzad Hossain, Arif Khan, Md. A. Salam Sikder, DSE senior vice president Mohammad Shajahan, vice president Mizanur Rahman Khan, directors Ahmad Rashid, Minhaz Mannan Emon, Sharif Anowar Hossain, Hanif Bhuiya, Khugesta Nur-E-Naharin, DSE former president Rakibur Rahman and chief executive officer Dr. Swapan Kumar Bala were present.