DSE trading network expanded to 8 dists
Thursday, 22 November 2007
FE Report
The Dhaka Stock Exchange (DSE) has expanded its trading network to eight districts while a few more are in the pipeline to cope with the ever increasing number of investors across the country.
As part of its expansion programme, the DSE is going to formally inaugurate its branch in the port city of Chittagong today (Thursday). Some 12 DSE brokers are operating their business from Chittagong.
Chairman of Securities and Exchange Commission (SEC) Faruk Ahmad Siddiki will be the chief guest on the occasion, said a DSE source.
The eight districts which have come under the DSE trading network are Chittagong, Rajshahi, Khulna, Sylhet, Bogra, Barisal, Comilla and Narayangonj.
Another district-Gazipur- will come under the DSE trading network very soon, the DSE source said.
The inter-district investors are able to trade from their respective districts through the use of optic fiber, radio-link and asymmetric digital subscription link (ADSL) systems.
"The stock market is no more Dhaka-based, as the market has seen a rapid growth across the country during the last few months," said DSE's senior vice president Ahmad Rashid.
Meanwhile, the DSE will also expand the capacity of its trading engine from existing two processing units to four very soon.
"We are increasing the capacity in view of the growth of the market during the recent months," a DSE source told the FE Wednesday.
Besides, the country's main bourse will develop more sophisticated surveillance software to monitor the market.
The daily average turnover of DSE crossed Tk 3.0 billion-mark for the first time on October 21 last.
The daily turnover, however, declined in last couple of days due to the SEC's latest directive to stop disbursement of loans by the merchant banks and brokerage houses to the retail investors.
A good number of DSE members have already opened their branch offices in different business hubs in the capital to facilitate the investors' trading from their respective areas instead of travelling to the main office of DSE at Motijheel.
He said the DSE hopes that there will be a significant rise in the daily turnover once the wide area network (WAN) automated system is broadened further to facilitate the investors across the country participate in trading.
The DSE move on business expansion was taken in view of an upgraded trading system launched from August 21, 2005 to cater to the growing demands for securities. The trading capacity has been enhanced to 50,000 howlas per day, which is scaleable upto 100,000. Previously the daily trading capacity was 15,000 howlas 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 which doubled the previous 16-bit Tandem Electronic Security Architecture (TESA) application to 32-bit architecture.
"The DSE has a commitment to help broaden the securities market and the gradual expansion is the manifestation of the same," Ahmad Rashid said.
A real time online trading platform will only bring the scattered investors with the mainstream stock trading, market operators said.
"Local investors earlier faced problems in getting the latest disclosures and stock prices due to absence of any online platform and from now on we will be able to do business in a smooth and hassle-free way," KM Sufian, a Chittagong-based investor told this correspondent.
The Dhaka Stock Exchange (DSE) has expanded its trading network to eight districts while a few more are in the pipeline to cope with the ever increasing number of investors across the country.
As part of its expansion programme, the DSE is going to formally inaugurate its branch in the port city of Chittagong today (Thursday). Some 12 DSE brokers are operating their business from Chittagong.
Chairman of Securities and Exchange Commission (SEC) Faruk Ahmad Siddiki will be the chief guest on the occasion, said a DSE source.
The eight districts which have come under the DSE trading network are Chittagong, Rajshahi, Khulna, Sylhet, Bogra, Barisal, Comilla and Narayangonj.
Another district-Gazipur- will come under the DSE trading network very soon, the DSE source said.
The inter-district investors are able to trade from their respective districts through the use of optic fiber, radio-link and asymmetric digital subscription link (ADSL) systems.
"The stock market is no more Dhaka-based, as the market has seen a rapid growth across the country during the last few months," said DSE's senior vice president Ahmad Rashid.
Meanwhile, the DSE will also expand the capacity of its trading engine from existing two processing units to four very soon.
"We are increasing the capacity in view of the growth of the market during the recent months," a DSE source told the FE Wednesday.
Besides, the country's main bourse will develop more sophisticated surveillance software to monitor the market.
The daily average turnover of DSE crossed Tk 3.0 billion-mark for the first time on October 21 last.
The daily turnover, however, declined in last couple of days due to the SEC's latest directive to stop disbursement of loans by the merchant banks and brokerage houses to the retail investors.
A good number of DSE members have already opened their branch offices in different business hubs in the capital to facilitate the investors' trading from their respective areas instead of travelling to the main office of DSE at Motijheel.
He said the DSE hopes that there will be a significant rise in the daily turnover once the wide area network (WAN) automated system is broadened further to facilitate the investors across the country participate in trading.
The DSE move on business expansion was taken in view of an upgraded trading system launched from August 21, 2005 to cater to the growing demands for securities. The trading capacity has been enhanced to 50,000 howlas per day, which is scaleable upto 100,000. Previously the daily trading capacity was 15,000 howlas 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 which doubled the previous 16-bit Tandem Electronic Security Architecture (TESA) application to 32-bit architecture.
"The DSE has a commitment to help broaden the securities market and the gradual expansion is the manifestation of the same," Ahmad Rashid said.
A real time online trading platform will only bring the scattered investors with the mainstream stock trading, market operators said.
"Local investors earlier faced problems in getting the latest disclosures and stock prices due to absence of any online platform and from now on we will be able to do business in a smooth and hassle-free way," KM Sufian, a Chittagong-based investor told this correspondent.