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CSE approves first online brokerage house in Bangladesh

  • Published at 10:33 pm November 25th, 2018
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01 Limited, the country’s first stock brokerage house, obtains Trading Right Entitlement Certificate (TREC) license from the CSE for online brokerage activities on Sunday, November 25, 2018 COURTESY

The brokerage house can launch its online operations once it gets approval from the Bangladesh Securities and Exchange Commission (BSEC)

The country’s first stock brokerage house,   01 Limited, obtained permission from the Chittagong Stock Exchange (CSE) for online stock trading.

The firm received its Trading Right Entitlement Certificate (TREC) license from the CSE on Sunday.

The brokerage house can launch its online operations once it gets approval from the Bangladesh Securities and Exchange Commission (BSEC).

The official handover of the certificate to the managing director of '01 Limited,’ Md.  Shamsul Islam, by CSE managing director M Shaifur Rahman Mazumdar, took place in Chittagong on Sunday.

Shamsul Islam told the Dhaka Tribune: “There will be no office, not even any authorized traders. Starting from account opening, to buying and selling shares, and depositing money, will be done online.

He said  '01 Limited 'is going to launch an online-based stock brokerage house soon. This is the first of its kind in the country.

The new service for investors has emerged to meet the demands of the times. In the new process, expenses for trading in shares will decline” he added. 

Shamsul Islam said commercial operations will start in January at the CSE .

The 24-hour investor services will be available through online texting, video chat, WhatsApp, ibera, Facebook, e-mail, and phone calls All the online business will be done using local software.