Dhaka, Bangladesh (BBN) - The Bangladesh Securities and Exchange Commission (BSEC) has the country’s prime bourse – Dhaka Stock Exchange – to explain the causes of the halt in trading for nearly three hours after its commencement on Sunday.
A BSEC team visited the bourse following the technical problem and asked the bourse to submit a report mentioning the causes of the problem, a BSEC official confirmed.
The capital market regulator’s move came following the trading suspension at the DSE within few minutes of its start.
After the commencement of trading at the regular time at 10:30am, it was noticed that brokers who had already logged in the DSE main server were losing connection and some other brokers were failing to establish connection with the server, the DSE said.
In the circumstances, the DSE management decided to stop immediately the trading temporarily until the problem was resolved, according to the DSE statement
The bourse managed to resolve the problem by restarting its trading server and trading at the bourse resumed at 1:15pm and continued till 3:15pm, the statement added. Trading at the DSE usually ends at 2:30pm.
The trading of the bourse witnessed suspension on several occasions — when new companies made their debut on the bourse — since the modification of its online-based trading system, MSA Plus, on June 10, 2012.
The software also failed to execute buy and sales orders on several occasions.
Following the incidents, the BSEC had launched an investigation and found that the glitches resulted from negligence by the software vendor as well as the DSE.
BBN/SSR/AD-14Apr14-12:28 pm (BST)