Dhaka Stock Exchange will introduce internet-based trading system within six months to expedite stock trading.
‘For a fast moving market, it is needed to introduce the system,’ DSE president Rakibur Rahman told reporters after a meeting with the US ambassador James F Moriarty at the bourse’s auditorium Tuesday.
‘We’ll try to introduce the internet-based trading system by six months,’ he said.
Internet-based or online trading system means buying and selling stocks by giving the order though internet, usually on a broker’s form. In this system, buy or sale confirmation is done by mail or e-mail.
The DSE president said the settlement period would also be reduced to one day from existing three days if commercial banks launch online money transaction from one bank to another by December in compliance of the central bank’s directive.
On Monday, Bangladesh Bank issued a circular that said from now onwards the subscribers would be able to pay utility bills online from their bank accounts and also transfer funds to other banks. It added that transactions between buyers and sellers can also take place online, enabling e-commerce facilities in the country.
Through the online trading system, anybody can observe the market situation on the internet and place buy and sale order through one’s respective broker.
Quoting the US ambassador the DSE chief said, ‘He appreciated the development of the Bangladesh stock market and called to enhance transparency and accountability in the market to protect the small investors’ interest.’