Dhaka, Bangladesh (BBN)- The Dhaka Stock Exchange (DSE) has signed a "Design Study Agreement" with OMX TECHNOLOGY AB (NASDAQ OMX) to upgrade the existing automated trading system.
Dr. Swapan Kumar Bala, chief executive officer of the DSE and Mr. Robert Frojd, managing director of NASDAQ OMX (South-East Asia & Pacific) Pte. Ltd signed the agreement on behalf of DSE and NASDAQ OMX respectively on Tuesday.
The signing ceremony was held at the DSE premises presided over by DSE president Ahsanul Islam while senior officials of the DSE, were present.
"Under the agreement, the NASDAQ OMX team will study our existing trading software and the DSE will consider the matter as per the suggestions made by the NASDAQ OMX study team," said a DSE official.
The DSE has taken the move following a securities regulator directive about scrapping the MSA Plus. The regulator is not satisfied with the performance of the software as it failed to execute transactions on a number of occasions since its inception on June 10, 2012.
BBN/SSR/AD-12Sept13-11:04 am (BST)
