BSEC asks DSE to report on glitches in trading software

Bangladesh Securities and Exchange Commission (BSEC) has asked the Dhaka Stock Exchange (DSE) to submit report on technical errors in the MSA Plus trading software within seven days.   It served a letter to DSE President Ahsanul Islam Titu and Swapon Kumar Bala, chief executive officer of the premier bourse, said an official of the commission.    The stock market regulator already informed the premier bourse about the previous technical faults and asked to submit the report after identifying the glitches occurred in June, he added.    The commission apprehended that the technical glitch may bring disaster to the trading system and cause financial losses to investors, said the investigation report on MSA Plus.    The probe body found that the MSA Plus software cannot take the load of buying and selling pressure when a new company debuts in the DSE.    The premier bourse already suspended payment of the software provider company as they failed to operate the system properly, a DSE director told the Dhaka Tribune. He also said the software provider installed the software without completion of total package and they used it as a trial run.   The DSE has received the letter and working to place the report in due time, said a DSE official, requesting anonymity.  He said the bourse is aware about the issue and will be able to resolve soon.      On March this year, the securities regulator has formed a three-member committee to probe into the technical faults.   On March 20, MSA Plus software of the DSE faced disruption when Orion Pharma made its debut. On the following day due to technical faults investors of premier bourse suffered financial losses as they could not execute any buy or sale order at desired prices in due time.