Dhaka Stock Exchange (DSE) Thursday launched the Next Generation Automated Trading system— DSE-FlexTP—for enhancing the exchange’s technological capability and improving transparency along with introducing some proposed products.
On the day the trading on the premier bourse was executed as per service provided by newly installed DSE-FlexTP.
The DSE installed the upgraded system with the support of world-class technology partners NASDAQ, FlexTrade, CISCO, HP, VMware, F5, Emerson and Microsoft.
State Minister for Finance MA Mannan inaugurated the new trading system as chief guest of the inaugural ceremony held at a city hotel.
The chairman of the Bangladesh Securities and Exchange Commission (BSEC) Professor M Khairul Hossain, the chairman of the premier bourse Justice Siddiqur Rahman Miah and incumbent and former directors of DSE board attended the ceremony.
Former BSEC Chairman Faruq Ahmad Siddiqi, CSE (Chittagong Stock Exchange) Chairman Dr. Muhammad Abdul Mazid, DSE managing director Dr. Swapan Kumar Bala and CSE managing director Wali-ul-Maroof Matin and other top officials of different business organisations were also present at the ceremony.
In his speech, the state minister Mr. Mannan said the government needs strong support from business communities to transform the business sectors into time befitting ones.
“Private organisations will be on the driving seats of the country’s economic development and the government will not interfere in their activities unnecessarily,” Mr. Mannan said.
BSEC Chairman Professor M Khairul Hossain said they are conducting awareness programmes, enacting revised rules, introducing high technologies and ensuring good governance to restore investors’ confidence which became shaky after December (2010)-January (2011) stock market debacle.
“After inclusion of the securities regulator in the International Organization of Securities Commissions (IOSCO) under ‘A’ category, foreign fund managers have started to consider our capital markets as lucrative ones,” BSEC Chairman Mr. Hossain said.
He said the securities regulator is conducting a study to install a modern data base system along with introducing new derivatives and commodity exchange.
DSE managing director Dr. Swapan Kumar Bala said the DSE is now proud to offer a world class trading platform for issuer and investor intermediation.
“A very challenging timetable was successfully achieved by the dedicated work of our management, our officers, our advisor and our technology partners. The new system will have multi asset class capabilities on a multi platform offering and we anticipate making further announcements in this regard over the coming months,” Mr. Bala said.
Among others, Justice Siddiqur Rahman Miah, chairman of the premier bourse, Mr Robert Frojd, managing director of NASDAQ, Mr. Jean-Michel Blanco, CEO at FlexTrade Online Business, spoke at the inaugural ceremony of new automated trading system.