Dhaka, Bangladesh (BBN) – Dhaka Stock Exchange (DSE) on Tuesday started final mock trading on new generation trading platform to familiarise stock brokers and investors with the process.
It will continue till launching in the second week of next month. Mock trading is a computer simulation of trade used in training brokers, investment managers and investors.
“All broker representatives are requested to instruct their respective houses to actively participate in the mock run from all branches including head office and annex offices from all terminals,” the DSE said in a statement on Tuesday.
Earlier, out of 232 stock brokers, over 220 had participated the mock trading held on November 11, 12, 13 and 15 this year.
In March, the prime bourse made an agreement with two US-based vendors – NASDAQ OMX and FlexTrade Systems – to replace existing trading engine TESA and trading terminal MSA Plus to get rid of repeated technical glitches, particularly on occasions of some debut stocks with huge trade volume.
Failure of the existing decade-old trading platform to entertain huge buy-sale orders at a time has prompted the prime bourse to look for new trading engine.
The old engine will be replaced with modern technology to remove concerns over technical glitches, said an official, adding the trading system up-gradation is a continuous process of any stock exchange.
Investors were losing trading hours at different times and faced difficulties in placing orders of stocks, included Appollo Ispat and Orion Pharma on their debut trading days.
The present system fails to take huge buy-sale orders for single company stocks, depriving many to execute trading.
Bangladesh Securities and Exchange Commission had instructed the DSE to replace its trading software in July, following losses of trading hours over frequent technical glitches on the MSA Plus trading platform.
In February, the DSE board formed a five-member panel to look after the matter.
The body found the MSA Plus platform is faulty and recommended replacing by a new one.
The DSE started its journey of automation on August, 1998 and it made a major up-gradation in the trading system and its infrastructure on 2005. At the end of 2010, DSE enhanced its ICT infrastructure capacity to six lakh trades per day.
To meet the potential growth of trades and investors, DSE upgraded its trading application MSA to MSA-Plus (upgraded TESA client part), which started on June 2012.
BBN/SSR/AD-26Nov14-11:29 am (BST)
