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Home » Industry News » Details
11 Jun 2012
Web-based trading begins at DSE

The Dhaka Stock Exchange (DSE) launched Sunday web-based trading using MSA-Plus (Member's Server Application) software.

Chairman of the Securities and Exchange Commission (SEC) Professor Dr Khairul Hossain formally launched the 'MSA-Plus Go Live Programme,' as the chief guest at 10:30am, while DSE President Rakibur Rahman presided over the launching ceremony.

Terming the introduction of MSA-Plus software is a milestone, Mr Hossain said it will bring more transparency and ensure accountability in the trading system, which make the investors more confident about the market.

The SEC chief also praised the DSE management for ensuring its participation in building 'Digital Bangladesh' by introducing web-based trading using MSA-Plus software.

He said there are no more requirements for opening new branches in different parts of the country, as from now on the investors will be able to buy or sell shares logging into the DSE server from his/her home who has Internet connection.

With the launching of the trading, the alleged manipulation by merchant banks by using omnibus accounts will be abolished, as the software would not allow any one to use omnibus account.

"The government is very much sincere in developing the country's share market, so it proposed some new incentives in the National Budget for FY 2012-13 along with last year's incentives," he added.

He viewed the government can raise fund from share market to meet its deficit budget and also the stock market can be utilised as alternative source of fund for the country's development.

Speaking on the occasion, DSE President Rakibur Rahman said the DSE has reached an international level by introducing MSA-Plus software

He urged the brokerage houses to ensure better services to clients by appointing efficient employees.

Mr Rahman also urged the institutional investors to play their due role in the market.

He said surveillance and monitoring of the bourse have been strengthened so that no one can play foul.

Out of 217 brokerage houses, only 32 houses started web-based trading using MSA-Plus software Sunday.

But, many employees of brokerage houses alleged that they faced some difficulties in executing their trading through MSA Plus software.

It took much time than usual, they claimed.

The investors also alleged that they failed to read words from a certain distance, as the font size was very small on the software. The MSA Plus software also does not allow netting facility, as a result we will have to wait for matured funds in case of buying shares, they alleged.

However, the DSE president said as the software is new one, it will take some time to adopt and the problem will be solved very soon.

Among others, SEC members Amzad Hossain and Arif Khan and DSE Senior Vice President Ahmad Rashid Lali, Director Khwaja Ghulam Rasul, CEO Dr Musharraf M Hussain and CFO Shuvra Kanti Choudhury and CSE President Al-Maruf Khan, BMBA President Mohammad A Hafiz were present on the occasion.

Source: http://www.thefinancialexpress-bd.com

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