DSE
Completes its Up-gradation Project for automated trading
engine
with state of the art technologies to facilitate 50,000
to 1,00,000 deals a
day wit enhanced number of workstations and Capacitates
to trade
from any where in the country
The
premier bourse of country, Dhaka Stock Exchange (DSE),
successfully completed its up-gradation of the automated
trading system, a move officials hope, will further
streamline stock trading in the secondary market of
the country. The up gradation will have features to
cater to the growing demands of securities market. The
scaleable up gradation will see an increase in number
of workstation to 1500 initially from its previous 450
trading workstations. However, the system will be able
to handle as many as 3,000 workstations as and when
needed.
It will also
facilitate trades up to 1,00,000 per day with a platform
that will allow stock trade through the Internet from
anywhere of the world. Announcing the completion of
the project, DSE President Md. Shahiq Khan said "the
upgraded system will enable the market grow in more
systematic way with flexibility to brokers and investors
complementing trade settlement through the central depository
system".
He said the
up-gradation is a testimony of DSE's commitment to providing
its members with the sate of the art technologies available
with the stock exchanges in the developed nations. He
further said that the previous automated trading system
was capable to trade only through local area network
(LAN) and limited scale of wide area network (WAN),
which was virtually limited within Dhaka City."But
with the upgraded system, Brokers will be able to logon
from branch offices located any where in the country"
Beside the
up-gradation will facilitate online real-time data generation
which will enable DSE to host them in its website and
electronic billboard along with the market ticker. It
will also come with better risk management and surveillance
software, enabling the surveillance departments to keep
better online vigil giving full control over a broker
or a dealer's risk exposures. DSE Chief Executive Officer
Mr. Salahuddin Ahmed Khan said, the stock market is
showing signs of great prospects and maturity and the
numbers of deals are picking up gradually, which calls
for up gradation of the system.
"It is therefore
imperative that we picked up the latest technologies
for stock transactions as our mission is to provide
the best platform for nation-wide trading by connecting
all corners of Bangladesh," Mr. Salahuddin said.
"We are also
planning to implement internet-based trading to rope
in expatriate Bangladeshis so that they can participate
in the nation building process by mobilizing their resources
for the development of the country" the CEO said.
He
said the enhanced system will facilitate greater number
of branch offices for trading from within and outside
of Dhaka City. The broker will have control over clients
through pre-set trade parameters. The DSE introduced
automated trading system August 10, 1998 adopting mainframe
server - TANDEM-Non Stop platform-from Tandem Computers
Inc of the US, which is now merged with Hewlett &
Packard (HP), Indian company Indigo Technologies, (now
SSCL), supplied Tandem Electronic Security Architecture
(TESA) application software for executing daily trade
at a total procurement cost of US$ 1.7 million in 1998.
According to the previous agreement signed between DSE
and Tandem Computers Inc on January 16, 1997, the US
Company provided maintenance support to DSE. The DSE
has completed this Up-gradation and replacement under
the supervision of a committee incorporating experts
of national stature from BUET, Shajalal University of
Science and Technology, North South University, beside
its own members.
The
new trading engine with HP 7008 series Main-Frame Non
stop platform based system is expected to be formally
inaugurated by Honorable Minister for Science and Information
Communication Technology Minister Dr. Abdul Moyeen Khan,
M. P. The inaugural ceremony is also expected to be
attended by dignitaries like Mr. Md. Sadeque Hossain,
M. P. honorable Mayor of Dhaka City Corporation, Chairman,
Securities and Exchange Commission and other elites
of the business community. Thus this Up-gradation will
not only enrich the capabilities of the securities market
with future in perspective, but will also be a mile
stone event for the information communication sector
of the country.
