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Trading debut for T-Bonds on DSE delayed again

FE Report | September 04, 2022 12:00:00

The highly anticipated trading debut for Treasury Bonds on the Dhaka Stock Exchange (DSE) is delayed again, as the stakeholders have yet to complete their preparations to this end.

The securities regulator had twice set the date for commencing the trading in Treasury Bonds or T-Bonds, but the DSE has missed both the dates.

As per the latest deadline set by the securities regulator, the DSE was supposed to begin the trading in the T-Bonds today (Sunday). Another tentative date was on August 16 last.

"All the information about T-Bonds are preserved in the central bank, but it is yet to complete all the preparations for the start of the T-Bond trading," said a senior official of DSE.

He also said the Bangladesh Securities and Exchange Commission (BSEC) is likely to fix a new date soon for the T-Bond trading debut.

Earlier, the DSE officials said they were facing some complexities and if those could be sorted out, trading in T-Bonds could begin on August 16.

But the DSE failed to commence trading in the T-Bonds on that date as the complexities could not resolved within the stipulated timeframe.

Stakeholders such as Bangladesh Bank (BB), the securities regulator, both the bourses and the depository authority, CDBL, signed a memorandum of understanding (MoU) on June 12 last to make the debut trading for the T-Bonds on the secondary market.

After the debut trading, general investors can buy and sell T-Bonds through their BO (beneficiary owner's) accounts.

Presently, a total of 222 treasury bonds are listed on the bourses, but general investors cannot trade these bonds as the bourses have no access to the MI (market infrastructure) module introduced by the central bank for the transaction of the T-bonds.

To facilitate the trading of the T-Bond, the central bank's MI module has recently been integrated with the trading software of both the stock exchanges.

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