DSE trading expanded further to district level
Sunday, 10 June 2007
FE Report
Dhaka Stock Exchange (DSE) has further expanded its stock trading to district level providing more scope for the general investors to enter into the secondary market.
"We have already expanded our business. More districts will come under our trading network as we hope more big companies under telecommunications, energy and power will float shares in the stock market in the near future," DSE President Abdullah Bokhari said Saturday.
Addressing an investors' awareness programme held in Rajshahi on the day, the DSE president said a new chapter in the DSE's history was opened through the inter-district trading.
"A thorough knowledge on the stock market can ensure participation of more and more investors in the securities market and there is no alternative to a vibrant capital market to develop the country's economy," Bokhari said.
As part of the expansion drive of the stock trading to district level, DSE will hold another similar programme in Bogra today (Sunday).
DSE senior vice president Ahmad Rashid in the Rajshahi programme said the bourse has taken all-out preparation to handle daily turnover worth Tk 5.0 billion within the next two-three years.
The daily turnover on the DSE has already crossed Tk 2.0 billion-mark.
"The DSE has a commitment to help broaden the securities market and the gradual expansion is the manifestation of the same," Ahmad Rashid said.
Executive directors of the Securities and Exchange Commission (SEC) Monsur Alam and Anwarul Kabir Bhuiyan, local officials of Investment Corporation of Bangladesh (ICB), local chamber leaders and a large number of investors attended the Rajshahi programme.
DSE chief executive officer Salahuddin Ahmed Khan called upon the investors to invest in equities, considering the financial strength of the companies concerned.
He presented an overview of the activities in the primary and secondary markets, the central depository system and clearing and settlement systems of stock trading.
DSE vice president Sharif Ataur Rahman, directors Abdul Haque, Mohd Rakibur Rahman, Kazi Firoz Rashid, Khawaja Ghulum Rasul, MA Quayum, Mohd Azizul Huq, Hanif Bhuiyan and Shahed Abdul Khaleque were present on the occasion.
The DSE has already provided necessary logistic support to the investors to trade from the divisional cities.
The bourse has expanded its trading network inside Dhaka, Chittagong, Sylhet and other cities through four IT vendors.
The IT vendors are using optical fiber, radio-link and asymmetric digital subscription link (ADSL) to do their networking business.
The areas inside the Dhaka city's network expansion cover Sadarghat to Tongi Bridge, Baridhara to Dhanmondi and Jatrabari to Mirpur.
A good number of DSE members have already opened their branch offices in different business centres in the Dhaka city to facilitate trading by the investors from their respective areas instead of rushing to the main office of the DSE at Motijheel.
He said the DSE expects a significant rise in daily turnover with the broadening of wide area network (WAN), which facilitates a large number of investors across the country to take part in trading.
The DSE began online stock business in Chittagong through LankaBangla Securities, a member of both DSE and Chittagong Stock Exchange from August of 2005.
The DSE move on business expansion was taken in view of an upgraded trading system launched on August 21, 2005 to cater to the growing demand for securities. This has enhanced trading capacity of 50,000 deals (howlas) per day, which is scaleable up to 100,000. Previously the daily trading capacity was 15000 deals only.
Hewlett & Packard (HP) of USA, Scandent Solutions of Chennai (India) and Syscom Information Systems Ltd., of Bangladesh completed the upgradation project at a cost of Tk 60 million.
The DSE, the SEC and the ICB jointly arranged two separate programmes on investors' awareness in Barisal and Khulna in late April this year.
Dhaka Stock Exchange (DSE) has further expanded its stock trading to district level providing more scope for the general investors to enter into the secondary market.
"We have already expanded our business. More districts will come under our trading network as we hope more big companies under telecommunications, energy and power will float shares in the stock market in the near future," DSE President Abdullah Bokhari said Saturday.
Addressing an investors' awareness programme held in Rajshahi on the day, the DSE president said a new chapter in the DSE's history was opened through the inter-district trading.
"A thorough knowledge on the stock market can ensure participation of more and more investors in the securities market and there is no alternative to a vibrant capital market to develop the country's economy," Bokhari said.
As part of the expansion drive of the stock trading to district level, DSE will hold another similar programme in Bogra today (Sunday).
DSE senior vice president Ahmad Rashid in the Rajshahi programme said the bourse has taken all-out preparation to handle daily turnover worth Tk 5.0 billion within the next two-three years.
The daily turnover on the DSE has already crossed Tk 2.0 billion-mark.
"The DSE has a commitment to help broaden the securities market and the gradual expansion is the manifestation of the same," Ahmad Rashid said.
Executive directors of the Securities and Exchange Commission (SEC) Monsur Alam and Anwarul Kabir Bhuiyan, local officials of Investment Corporation of Bangladesh (ICB), local chamber leaders and a large number of investors attended the Rajshahi programme.
DSE chief executive officer Salahuddin Ahmed Khan called upon the investors to invest in equities, considering the financial strength of the companies concerned.
He presented an overview of the activities in the primary and secondary markets, the central depository system and clearing and settlement systems of stock trading.
DSE vice president Sharif Ataur Rahman, directors Abdul Haque, Mohd Rakibur Rahman, Kazi Firoz Rashid, Khawaja Ghulum Rasul, MA Quayum, Mohd Azizul Huq, Hanif Bhuiyan and Shahed Abdul Khaleque were present on the occasion.
The DSE has already provided necessary logistic support to the investors to trade from the divisional cities.
The bourse has expanded its trading network inside Dhaka, Chittagong, Sylhet and other cities through four IT vendors.
The IT vendors are using optical fiber, radio-link and asymmetric digital subscription link (ADSL) to do their networking business.
The areas inside the Dhaka city's network expansion cover Sadarghat to Tongi Bridge, Baridhara to Dhanmondi and Jatrabari to Mirpur.
A good number of DSE members have already opened their branch offices in different business centres in the Dhaka city to facilitate trading by the investors from their respective areas instead of rushing to the main office of the DSE at Motijheel.
He said the DSE expects a significant rise in daily turnover with the broadening of wide area network (WAN), which facilitates a large number of investors across the country to take part in trading.
The DSE began online stock business in Chittagong through LankaBangla Securities, a member of both DSE and Chittagong Stock Exchange from August of 2005.
The DSE move on business expansion was taken in view of an upgraded trading system launched on August 21, 2005 to cater to the growing demand for securities. This has enhanced trading capacity of 50,000 deals (howlas) per day, which is scaleable up to 100,000. Previously the daily trading capacity was 15000 deals only.
Hewlett & Packard (HP) of USA, Scandent Solutions of Chennai (India) and Syscom Information Systems Ltd., of Bangladesh completed the upgradation project at a cost of Tk 60 million.
The DSE, the SEC and the ICB jointly arranged two separate programmes on investors' awareness in Barisal and Khulna in late April this year.