Expert Fintech Limited, a fintech company formed by leading brokerage houses, is preparing to introduce a one-stop service for Bangladesh’s capital market as part of its efforts to strengthen the sector’s technological capabilities.
The company has already successfully launched its Order Management System (OMS) and developed back-office software for brokerage houses. It also plans to develop a matching engine for stock exchanges in the future.
The information was disclosed at a programme titled “Bangladesh Capital Market Digitization and Future Challenges”, held at a hotel in Dhaka on Wednesday (August 19).
Expert Fintech Chairman and Bank Asia Securities CEO Suman Das delivered the welcome speech, while the company’s executive director highlighted its operations and future plans. The closing remarks were delivered by Expert Fintech Director and UCB Stock Brokerage CEO Rahmat Pasha.
Dhaka Stock Exchange Brokers Association (DBA) President Saiful Islam, DSE shareholder director Minhaz Mannan Emon, former DSE president Shakil Rizvi, and senior officials from several brokerage houses attended the event.
According to information presented at the programme, Expert Fintech was established in 2021 at the initiative of the DSE’s top 10 brokerage houses. Three more brokerage firms later joined its ownership structure.
Currently, the company’s OMS is being used by 16 brokerage houses, including UCB Stock Brokerage, Bank Asia Securities, EBL Securities, Shahjalal Islami Bank Securities, One Bank Securities, Apex Investments, Green Delta Securities, Islami Bank Securities, NLI Securities, First Capital, Ramon Securities, MIKA Securities, Innova Securities, AB Securities, Skyline Securities and Winfang Securities.
The company’s OMS currently handles around 45–47% of the total trading volume of the Dhaka Stock Exchange. At its peak, the system has handled as much as 57% of DSE transactions.
Expert Fintech has also developed back-office software for brokerage houses. The software will be made available for use once it receives approval from the relevant regulatory authorities. The company is also interested in developing a matching engine for the stock exchange.
Speaking at the event, Suman Das said Expert Fintech aims to provide high-quality services to the capital market at an affordable cost. He noted that locally developed technology can reduce costs compared with services provided by foreign companies while also helping save valuable foreign currency.
He said the company plans to expand its services beyond the capital market. Expert Fintech also intends to convert the company into a public limited company in the future and bring it to the capital market through an initial public offering (IPO).
DBA President Saiful Islam said the capital market has not achieved its desired development partly because of technological limitations. He stressed the need to enhance technological capabilities in line with the demands of the time.
He said Expert Fintech’s OMS, back-office software and other technology products would help improve the overall capacity of the capital market.
DSE shareholder director Minhaz Mannan Emon said greater use of technology and digitization would improve both market efficiency and transparency.
Expert Fintech Director Rahmat Pasha said making profits is not the company’s primary objective. Rather, its main goal is to strengthen the technological capacity of the capital market and facilitate the market’s expected growth.
