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DSE extends partnership with Nasdaq for tech support

January 04, 2023 00:00:00

FE Report

The Dhaka Stock Exchange (DSE) and Nasdaq have extended their partnership agreement for another three years to keep the existing trading software in operation.

NASDAQ provides the technological support behind everyday trades on the bourses.

The previous 10-year agreement is scheduled to end in December 2024.

The new agreement requires upgrading of Nasdaq's X-stream INET technology to accommodate increasing trading activities while maintaining "market resiliency and investor integrity", Nasdaq said on its website.

In recent times, the DSE launched SME market and Alternative Trading Board boosting trades.

"To facilitate the next stage of its expansion, the upgrade of its trading system will be an integral part," said Nasdaq.

M. Shaifur Rahman Mazumdar, acting managing director of the DSE, and Ms. Virgine Barbot, managing director of NASDAQ Technology AB, signed the agreement.

Under the agreement, the technology provider NASDAQ will train DSE personnel.

After the successful upgrading of the engine at the newly established data center, both parties will commence "a design study for the deployment of the new version of NASDAQ machine engine", reads a press release issued by the DSE.

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