Dhaka: Dhaka Stock Exchange is going to start Internet-based trading system by December under an agreement already signed between the DSE and Kepbridge Solution, an Indian software company, facilitating transaction of share trade by people sitting at home.
As per the deal, Internet trade system will be started on the DSE on December 15. If the Internet trading is started, national-international investors can invest their money in the capital market from their respective destinations.
“The investors can invest sitting in their respective houses. Non-residents also can invest in the capital market. As a result, the capital market will expand,” says the agreement, struck in the last week of May.
The upgrading process of DSE’s software is continuing with the assistance of the Madras-based software company, Kepbridge Solution, for staring the trade on the Internet.
DSE president Md Shakil Rijvi and IT chief M Khairuzzaman told banglanews24.com.bd that online banking is a prerequisite for Internet trading but most of the banks in the country did not initiate such banking for doing e-commerce.
“Some banks have already started the system and some are going to start it soon, and then the Internet trading system will be possible on DSE. I am hopeful it will be possible to start the new system from December,” said the DSE president.
He also expects that the bourse will expand rapidly with the start of Internet trading. It is necessary to increase share supply in keeping with the expansion.
Replying to a question about Chittagong Stock Exchange (CSE) the president said CSE could not do anything for Internet trading system.
Former DSE president Md Rakibur Rahman said if Internet trading started, the capital market would get a new momentum. “At first we need to increase share supply.”
DSE IT chief M Khiruzzaman said online trading started off with the automation system on DSE in 1998. “Following the system the Internet trading will be started for the convenience of the investors from 15 December--our IT department is fully ready,” he added.
BDST 1410 hrs June 5, 2010
GS/RS/MMA/MUA
