Dhaka, Bangladesh (BBN) - The Dhaka Stock Exchange (DSE) will introduce online trading within the next 10 weeks using MSA-Plus software, officials said.
Under the MSA-Plus system, every investor would require a separate BO account to participate in share trading, and the transaction will not be possible through omnibus accounts.
The decision came at a meeting with the Bangladesh Merchant Bankers Association (BMBA) and the DSE held at the DSE board room in the capital on Monday.
"We’re going to launch online trading within next 10 weeks as we have reached a solution after having wide discussions with merchant banks' leaders," DSE President Rakibur Rahman said after the meeting.
He also said MSA-Plus software was supposed to be introduced on March 25, but it has been postponed due to omnibus account complexities.
An omnibus account is a specific kind of stock-holding account that involves multiple investors.
Meanwhile, the DSE has set a six-month timeframe to transfer the omnibus accounts into a single-client account for smooth running of MSA-Plus software.
Besides, a 14-member committee has been formed headed by ICB MD Fayekuzzaman to review the legal, technical, financial and operational aspects.
BBN/SSR/AD-03April12-8:16 am (BST)
