Dhaka, Bangladesh (BBN) – The introduction of online trading using MSA-Plus software at the Dhaka Stock Exchange (DSE) suspended due to omnibus accounts complication, officials said on Tuesday.
Earlier, the DSE set time to introduce “MSA-Plus go live” on March 25 this year.
DSE source said the Securities and Exchange Commission (SEC) verbally informed that the DSE that they should go online trading after resolving complication over omnibus account as it is conflicting with the securities laws.
He also said the regulator would set a deadline to complete opening beneficiary owners (BO) accounts for every client who operates trading under omnibus accounts.
Without resolving the omnibus accounts problem, online trading at the DSE might create a negative impact as the market is going to stable situation, he added.
An omnibus account is a single account which contains many individual investors’ accounts.
Earlier, the DSE take preparation to go online without omnibus accounts because of transparency concerns.
MSA-Plus is an upgraded trading software that would replace the existing ‘TESA Trading Software (client part) MSA (member’’ server application)’.
With MSA-Plus in place, a virtual marketplace for share transactions will be created. It will be a bridge to real-time online trading, through which investors themselves can execute the trade.
MSA-Plus will allow stock investors to place buy or sell orders online on the internet from any location worldwide.
BBN/SSR/AD-21Mar12-1:00 am (BST)
