Dhaka Stock Exchange (DSE) launches new trading platform today to get rid of repeated technical glitches, particularly on occasions of some debut stocks with huge trade volume.
The existing trading platform will also remain in operation this month for adjusting with the new system.
Failure of the 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.
State Minister for Finance MA Mannan is expected to inaugurate the new trading platform in a ceremony at a city hotel today.
DSE Managing Director Swapan Kumar Bala briefed the press yesterday about the new trading platform and its potentialities.
“Around 70 countries use this trading platform. It might remove all trading-related concern and difficulties.”
The old engine will be replaced with modern world-class technology to remove concerns over technical glitches, he said, adding that the trading system upgradation is a continuous process of any stock exchange.
Under the new platform, there will not be odd lot of shares, meaning that investors can purchase any number of shares, and even one can see his trading information in details.
Existing trading engine TESA and trading terminal MSA Plus will be replaced by FlexTrade Systems developed by the US-based world’s largest exchange company NASDAQ OMX.
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 orders for single company stocks, depriving many to execute trading.
Bangladesh Securities and Exchange Commission instructed the DSE to replace its trading software in July last year, following losses of trading hours over frequent technical glitches on the MSA Plus trading platform.
The DSE started its journey of automation on August, 1998 and it made a major upgradation in DSE trading system and its infrastructure in 2005. At the end of 2010, DSE enhanced its ICT Infrastructure Capacity to six lakh trades per day.
To meet the potential growth of trades and prospective investors, DSE upgraded its trading application, MSA to MSA-Plus (upgraded TESA client part), which started in June 2012.
