Dhaka Stock Exchange will start using mobile phone platform for buying and selling shares from Wednesday this week.
The platform that is said user friendly envisages widening the equity trading activities from any place of the country particularly where brokers are not present.
DSE Managing Director Swapan Kumar Bala said the mobile application was developed by Nasdaq, Flextrade and other partners in line with all regulations related to share trading.
“From coming March 9, everyone would be able to trade using mobile phone initially,” Bala said while briefing the press on the mobile trading platform yesterday.
He said the buyers and sellers will not be charged initially, but the usual charge of stock transaction imposed by the DSE will be applied sometime later.
To take part in trading, investors first need to register with the broker and then install the app named “DSE-Mobile” from any browsers like Chrome, Firefox, Safari, IE etc.
Since existing regulation does not allow brokers to open new branch, investors in remote places where brokers are not present will be able to trade, said Bala who hoped that the mobile trading platform will attract more investors.
At present, there is a low participation in the market as recent DSE turnover in value is hovering between Tk300-Tk500 crore, which is considered poor compared to the market depth.
According to the DSE, under the initiative, investors can buy and sell shares or any future listed instruments without physically visiting stock brokers.
In addition, the app will provide some featured information, including buy or sell alerts, notifications and portfolio status to the investors, which are not easily available on the website or via brokers’ services.
The mobile app is a mobile version directly linked with the DSE trading system which provides real-time awareness to investors with mobility.
The app has two versions—the first one called “DSE-Mobile VIP”, which is a non-trading version, and the second one called “DSE-Mobile Trader”, which is a trading version of the mobility product.
DSE-Mobile VIP is a web-based desktop app that will offer all features of “DSE-Mobile Trader”, which can be accessed from any browser.
Finance Minister Abul Maal Abdul Muhith is expected to formally launch the app at the Bangabandhu International Conference Center in the city.