DSE instructs DSE to bring 52 trackholders into action quickly

ShareBarta24.com, Dhaka: The Dhaka Stock Exchange (DSE) has issued licenses to 52 new brokerage houses or treks (Trading Right Entitlement Certificates) in early September for trading shares. However, after more than a month and a half, no newly licensed brokerage house has been able to start commercial activities.

The Bangladesh Securities and Exchange Commission (BSEC) has directed the DSE to take necessary steps for the brokerage houses to start commercial activities soon in the current market situation.

In a written directive, the BSEC said that the DSE has already issued licenses to 52 brokerage houses or treks to start commercial activities immediately. So far, however, no new brokerage house with a trek license has started their trading activities. In the current market situation, the newly issued trek licensees have been directed by the DSE to take necessary steps to start commercial activities immediately. The commission was asked to submit a report within seven working days of receiving the letter.

The letter asked to provide technical assistance in setting up Order Management System (OMS) in new brokerage houses and to assist in completing the process of obtaining registration certificate in accordance with Securities and Exchange Commission (Stock-Dealer / Stock-Broker / Estimated) Rules, 2000.

According to DSE sources, out of the 52 new brokerage houses, 12-13 companies have applied to the DSE for licenses of stock-dealers and stock-brokers. Some of these organizations are preparing to launch an order management system. However, most of the organizations have not yet completed the preparations for the launch of the system.

There is currently a big crisis in developing IT systems on new tracks. This is because the brokerage houses were required to introduce their own order management system at the time of obtaining the trek license from DSE. At the same time back office system has to be introduced. It takes some time to turn on these systems. However, there is a provision for the brokerage house to start commercial activities within one year of getting the trek license.

DSE’s new 52 brokerage houses are: Kabir Securities, Monarch Holdings, Sohail Securities, RAK Capital, Jamuna Bank Securities, Snigdha Equities, International Securities Company, South Asia Securities. Al Hermine Securities, Mir Securities, TK Shares & Securities, NRB Bank Securities, SBAC Bank Investment, Amaya Securities, Prudential Capital,

Takaphula Islamic securities, bienabi Securities, a leading Insurance Securities, mahida Securities, Baraka Securities, ANC Securities, esaephaaiela Securities, tasiya Securities, Dynasty Securities, Celestial Securities, Trade X Securities, B. Rich, imperora Securities, B and BSS Trading, NY trading, Colombia Shares, MKM Securities,

Smart Shares, Exchange Securities, Relief Exchange, My Securities, Bang Geo Geo Textiles, Minhar Securities, Biplob Holdings, Associated Capital Securities, Rahima Equity, Assurance Securities, Managing Securities, Assurance Securities, Regional Equity and Innova Securities.

Source: Share Barta 24 by www.sharebarta24.com.

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