DSE launch steps to go for full automation

Date:

Post View:

DSE launch steps to go for full automation

The Dhaka Stock Exchange (DSE) aiming to go for full-fledge automation has formed a seven-member committee headed by its independent director Professor Dr Md Masudur Rahman, to make an assessment report on how to operate automated systems.

The decision was taken at DSE’s directorial board meeting on Thursday, where the committee was also asked to submit their report within 30 days.

The committee also assigned to report on the challenges of executing a full automation plan.

DSE’s trading platforms and settlement systems are not fully automated. Merely 5 or 6 per cent of trading has been executed online, whereas the strategic partner of DSE, the Shanghai and Shenzhen Stock Exchanges, conduct more than 95 per cent trading online.

Even after 22 years of automation, the DSE has failed to create an integrated and unified automated system.

Trading right entitlement certificate (TREC) holders and listed companies still exchange price sensitive information and other necessary information with stock exchanges manually.

Additionally, somebody has to be physically present to operate workstations at brokerage houses for trading settlements. Investors have to confirm manually whether money is transferred to a bank account when shares are bought or sold.

There are a number of challenges including current rules for developing a digitalized capital market, DSE director Shakil Rizvi also said

But the DSE has no other alternative to go for cent percent automated trading regime.

 

Bmirrorhttps://bmirror.net/
businessmirror20@gmail.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_img

Popular

More like this
Related

Shippers’ Council of Bangladesh holds its 2nd board meeting

BMirror Desk: 2nd meeting of the Board of Directors of...

ICMAB delegates met Secretary, FID, MoF and Secretary, Legislative Division, Ministry of Law

BMirror Desk: A delegation of The Institute of Cost and...

Agrani Bank hosts training on CMSME Loan

BMirror Desk: A 3-day training workshop on 'Entrepreneurship Development and...

Shahjalal Islami Bank holds 874th executive committee meeting

BMirror Desk: The 874th meeting of the Executive Committee (EC)...