Dhaka bourse is ready to handover 30 new TRECs (trading right entitlement certificates) very soon as the process of issuing such trading licenses has already been completed.
The officials of Dhaka Stock Exchange (DSE) said the new TRECs are likely to be distributed within two weeks to the companies which got the regulatory consent to start trading operations in the capital market.
"TRECs are ready and our board has taken the decision of distributing the licenses very soon. The TRECs are likely to be distributed through a programme," said a DSE official.
The new TRECs came as part of the exchange's demutualisation process completed to separate the exchanges' ownership from the management to ensure transparency and accountability in the exchange's operations.
The Bangladesh Securities and Exchange (BSEC) approved 30 applications for TRECs in May last considering their eligibility of conducting operations in the capital market.
The number of existing brokerage firms on the premier bourse is 250. The DSE found no claimants of four firms, while another eight firms are not active in operations. As a result, 238 firm presently are active in operations.
After issuance of new 30 TRECs, the number of the DSE's brokerage firms will stand at 280.
The companies which will receive new TREC are Kabir Securities, Monarch Holdings, Sohel Securities, RAK Capital, Jamuna Bank Securities, Snigdha Equities, International Securities Company, South Asia Securities, Tristar Securities, 3i Securities, Sonali Securities, KDS Shares and Securities, Al Haramain Securities, Mir Securities, TK Shares and Securities, NRB Bank Securities, SBAC Bank Investment, Amaya Securities, Prudential Capital, Takaful Islam' Securities, BNB Securities, Agrani Insurance Securities, Mahid Securities, Baraka Securities, ANC Securities, SFIL Securities, Tasia Securities, Dynasty Securities, Celestial Securities and Trade X Securities.
On April 21, the DSE selected 51 out of 66 applicants eligible for the bourse's TREC.
Later, their applications were sent to the BSEC seeking its for approval and 30 companies got the regulatory approval to start operations in the capital market.
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