The Bangladesh Securities and Exchange Commission (BSEC) has withdrawn the suspension of 15 authorized traders who were earlier suspended because of their aggressive selling practices in the stock market which created panic among investors.
On April 18, the BSEC suspended those traders after finding share trading anomalies against them.
The commission's department of surveillance found several brokerage firms engaging in the creation of abnormal sell pressure in some large-cap scrips.
The traders had put zero-price bulk orders that dragged down the stocks' price abnormally and that is why the commission ordered nine brokerage firms to suspend 15 of their traders.
Authorized representatives or traders execute buy-sell orders at brokerage firms.
Zero price orders refer to putting sell orders without asking any price intended to sell off at any available price and that in bulk volume is a violation of the codes for authorized representatives.
Of the 15 suspended traders, five worked for ICB Securities Trading, two from Rashid Investment Services and Shyamol Equity Management, while other brokerage firms Parkway Securities, Quayum Securities, Mercantile Bank Securities, TA Khan Securities, JKC Securities, and Kazi Equities each ordered to suspend one of their traders.