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Dhaka Tribune

DSE to install new trading engine soon

Update : 29 Dec 2013, 06:16 PM

Dhaka Stock Exchange (DSE) is set to launch a new trading engine soon to put off repeated technical glitches, particularly on occasions of every debut stocks.

Failure of existing decade-old trading platform to entertain huge buy-sale orders at a time has prompted the prime bourse to look for new trading engine.

The existing trading engine TESA and trading terminal MSA Plus will be replaced by a new trading software as early as possible, said a DSE official.

As part of the process, NASDAQ OMX, the world’s largest exchange company based in the US, already completed design study of DSE’s requirement and submitted a final report.

Millennium IT, a leading Sri Lankan information technology solutions provider, specialised in IT solutions for the financial and telecom industries, will implement the system.

It currently provides IT solutions for Chittagong Stock Exchange.

“We are seriously working on making everything fit for smooth trading,” said DSE chief technology officer ASM Khairuzzaman.

The decade-old trading engine will be replaced with modern world-class technology to remove concern of technical glitches, he said, adding that the trading system up-gradation is a continuous process of the stock exchange.

Investors were losing trading hours at different times and faced difficulties in placing buy and sell orders of stocks, including Appollo Ispat and Orion Parma on their first debut day.

The present system fails to take huge buy-sale order for single company stocks, depriving many to execute trading.

“The performance of the present trading platform was faulty as it failed to execute transactions on a number of occasions when a new company made debut,” said a stock broker.    

Bangladesh Securities and Exchange Commission instructed the DSE to replace its trading software in July following losses of trading hours over frequent technical glitches on the MSA Plus trading platform.

In February, the DSE board formed a five-member panel to look after the matter.

The body found the MSA Plus platform, acquired from UK-based software vendor Xchanging for around $600,000, is faulty and recommended replacing by a new one.

The DSE started its journey of automation on August, 1998 and it made a major up-gradation in DSE trading system and its infrastructure on 2005. At the end of 2010, DSE enhanced its ICT Infrastructure Capacity to six lakh trades per day.

To meet the potential growth of the trades and prospective investors, DSE upgraded its trading application MSA to MSA-Plus (upgraded TESA client part), which started on June 2012. 

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