T+2 not now, decides DSE

FE Report The board of directors of the country's prime bourse---Dhaka Stock Exchange (DSE)---has decided not to implement the reduced settlement cycle---T+2, until normalcy is restored in the market, officials said. The DSE authorities took the decision at a meting in the city Tuesday. The Securities and Exchange Commission (SEC) earlier approved a proposal of reducing the settlement cycle of share transaction, except 'Z' category, to T+2 from existing T+3 following a proposal made by both the bourses. "We have decided to implement the proposed T+2 if normalcy is restored in the market," DSE President Shakil Rizvi told the FE. He also said they have decided to refrained from implementing proposed T+2, as presently the sellers are very strong than buyers. At Tuesday meeting, the DSE board also decided to observe holiday on October 9 and 10, 2011, with normal holidays, on the occasion of Eid-ul-Azha.