The securities regulator has allowed another 16 companies to conduct the operations of stock brokers obtaining TREC (trading rights entitlement certificate) from the premier bourse.
The Bangladesh Securities and Exchange Commission (BSEC) on Monday sent a letter to the Dhaka Stock Exchange (DSE) issuing clearance to the companies which submitted applications for getting trading licenses.
The 16 companies are Meenhar Securities, Bang Ji Geo Textile, Biplob Holdings, Associated Capital Securities, Amar Securities, Be Rich, Columbia Share, Rahman Equity, MKM Securities, Smart Share, Benemoy Securities, Relief Exchange, Emperor Securities, NY Trading, B & BSS Trading, Bridge Stock & Brokerage.
"The BSEC has said TREC can be issued to these 16 companies in the second phase. The new TRECs will be issued to the companies as per the board's final decision," said Abdul Matin Patwary, managing director (current charge) at the DSE.
In May last, the securities regulator approved 30 applications in the first phase for getting the DSE's TRECs considering the companies' eligibility of conducting operations in the capital market.
The number of existing brokerage firms in 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 firms presently are active in operations.
After the issuance of the latest 16 TRECs, the number of the DSE's brokerage firms will stand at 296.
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