T+2 share settlement unlikely in Feb

The possibility to start the T+2 trading cycle this (February) month seems bleak though Dhaka Stock Exchange (DSE) is ready to start the cycle (trading day plus two days) for share settlement. Two months ago, the DSE decided that it would introduce the T+2 trading cycle by February, 2014, scraping the existing T+3 trading cycle, aiming to reduce the share settlement cycle by one day. But the country’s premier bourse is just waiting for the gazette notification of Bangladesh Securities and Exchange Commission (BSEC) in hand. “We’re just waiting to have the gazette notification in our hand,” DSE managing director Swapan Kumar Bala said. He said after having the notification in hand the DSE will send the same to all the brokerage houses specifying a certain period for implementing the T+2 trading cycle. “We’ve to give at least two weeks time to the brokerage houses to introduce the new system,” he added, according to UNB.