FE Report
About 86 per cent brokerage houses of the Dhaka Stock Exchange (DSE) remained out of online trading facilities using MSA-Plus software though it was introduced one year ago amid a great enthusiasm to facilitate real time trading to the investors.
The premier bourse launched the internet-based platform using MSA-Plus (Member's Server Application) trading software for share transactions, an upgraded trading floor to ensure more transparency in the stock trading on June 10 last year.
But, only 35 brokerage houses, out of 250 are now using internet based MSA-Plus trading software in the premier bourse, officials said.
The houses that introduced online trading using MSA-Plus software are: ETBL Securities & Exchange Ltd, Apex Investments Ltd, International Leasing Securities Ltd, Vision Capital Ltd, SAR Securities Ltd, Rashid Investments Services Ltd, Haji Ahmad Brothers' Securities Ltd, AB & Company Ltd, IDLC Securities Ltd, HAC Securities Ltd, Multi Securities and & Services Ltd, PFI Securities Ltd, Zamal Ahmed Securities Ltd, CMSL Securities Ltd, Dragon Securities Ltd, K Securities & Consultancy Ltd, Rose Securities Ltd, Doha Securities Ltd, IIDFC Securities Ltd, PHP Stock & Securities Ltd, United Financial Trading Company Ltd, BRB Securities Ltd, Nexus Securities Ltd, Sharp Securities Ltd, Mika Securities Ltd, Parkway Securities Ltd, DBL Securities Ltd, Eminent Securities Ltd, Glob Securities Ltd, GMF Securities Ltd, Mona Financial Consultancy & Securities Ltd, Shakil Rizvi Stock Ltd, Midway Securities Ltd, LankaBangla Securities Ltd and Harpoon Securities Ltd.
MSA-Plus allowed stock investors to place buy or sell orders online on the internet from any location. It means stock investors would not have to place buy or sell orders with authorized traders.
"If all the brokerage houses introduce of the MSA-Plus software, we would able to trade from any place of the world using internet, but the DSE authorities fail it to so," said Md Rana, an investors.
"We are also depriving the real-time online trading, through which we themselves can execute the trade," he said.
"The introduction of MSA-plus software, ensure transparency and accountability in the stock market and prompt transparent trading activities, but most the brokerage houses are reluctant to introduction the system as it is not mandatory," said an DSE official.
"The lack of skilled manpower in the brokerage houses for using the MSA Plus software also a reason for delay to introduce the software," he said.
Many brokerage houses also have no online client as a result they reluctant to introduce the system, he added.
However, he said many of them apply for go online. "As the market situation was not good, the brokerage house owners were reluctant, but now many of them are showing interest," he said.
The failure of the brokerage house owners' is a main reason for not introducing the system, Bangladesh Securities and Exchange Commission (BSEC) sources said.
Newly elected DSE president Ahsanul Islam Titu said, "I have no statistics right now, after receiving statistics, the board will decide on the matter."
However, through the MSA-Plus, every investor would require separate BO account to participate in share trading, and the transaction will not be possible through omnibus accounts.
About 86 per cent brokerage houses of the Dhaka Stock Exchange (DSE) remained out of online trading facilities using MSA-Plus software though it was introduced one year ago amid a great enthusiasm to facilitate real time trading to the investors.
The premier bourse launched the internet-based platform using MSA-Plus (Member's Server Application) trading software for share transactions, an upgraded trading floor to ensure more transparency in the stock trading on June 10 last year.
But, only 35 brokerage houses, out of 250 are now using internet based MSA-Plus trading software in the premier bourse, officials said.
The houses that introduced online trading using MSA-Plus software are: ETBL Securities & Exchange Ltd, Apex Investments Ltd, International Leasing Securities Ltd, Vision Capital Ltd, SAR Securities Ltd, Rashid Investments Services Ltd, Haji Ahmad Brothers' Securities Ltd, AB & Company Ltd, IDLC Securities Ltd, HAC Securities Ltd, Multi Securities and & Services Ltd, PFI Securities Ltd, Zamal Ahmed Securities Ltd, CMSL Securities Ltd, Dragon Securities Ltd, K Securities & Consultancy Ltd, Rose Securities Ltd, Doha Securities Ltd, IIDFC Securities Ltd, PHP Stock & Securities Ltd, United Financial Trading Company Ltd, BRB Securities Ltd, Nexus Securities Ltd, Sharp Securities Ltd, Mika Securities Ltd, Parkway Securities Ltd, DBL Securities Ltd, Eminent Securities Ltd, Glob Securities Ltd, GMF Securities Ltd, Mona Financial Consultancy & Securities Ltd, Shakil Rizvi Stock Ltd, Midway Securities Ltd, LankaBangla Securities Ltd and Harpoon Securities Ltd.
MSA-Plus allowed stock investors to place buy or sell orders online on the internet from any location. It means stock investors would not have to place buy or sell orders with authorized traders.
"If all the brokerage houses introduce of the MSA-Plus software, we would able to trade from any place of the world using internet, but the DSE authorities fail it to so," said Md Rana, an investors.
"We are also depriving the real-time online trading, through which we themselves can execute the trade," he said.
"The introduction of MSA-plus software, ensure transparency and accountability in the stock market and prompt transparent trading activities, but most the brokerage houses are reluctant to introduction the system as it is not mandatory," said an DSE official.
"The lack of skilled manpower in the brokerage houses for using the MSA Plus software also a reason for delay to introduce the software," he said.
Many brokerage houses also have no online client as a result they reluctant to introduce the system, he added.
However, he said many of them apply for go online. "As the market situation was not good, the brokerage house owners were reluctant, but now many of them are showing interest," he said.
The failure of the brokerage house owners' is a main reason for not introducing the system, Bangladesh Securities and Exchange Commission (BSEC) sources said.
Newly elected DSE president Ahsanul Islam Titu said, "I have no statistics right now, after receiving statistics, the board will decide on the matter."
However, through the MSA-Plus, every investor would require separate BO account to participate in share trading, and the transaction will not be possible through omnibus accounts.
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