No registration for QIs to take part in SME platform trading

Qualified Investors (QIs) from now on will require no registration to take part in trading in SME (small and medium enterprise) platform of the bourses.

Investors have been offered with the facility as part of the regulatory move to enhance QIs' participation in trading of SME platform.

The data of QIs having a minimum investment of Tk 2.0 million or above in listed securities will be provided by Central Depository Bangladesh Limited (CDBL) or Depository Participants (DPs).

At the time of accepting any buy or sell order for shares of listed securities in SME platform, the respective DPs or brokerage firms will ensure the eligibility of QIs based on their available data in back-office software or Order Management System (OMS).

"For further checking as to eligibility of QI's order, the trade data may be verified at the time of clearing and settlement through Clearing and Settlement (CNS) software of stock exchanges and the bourses will make a report (with warning to DPs) after trading hours," said a disclosure posted on the DSE website.

QIs, however, will require registration for applying primary shares of SMEs.

Asked, a DSE official said qualified investors themselves can apply for primary shares through the exchanges' Electronic Subscription System (ESS).

"That's why, QIs will require registration to apply for primary shares of the SMEs," said the DSE official.

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