Mohammad Mufazzal
New Automated Trading System which will go live on December 11 next on the premier bourse will accelerate trading platforms along with resolving some existing problems, officials said.
The traders at different brokerage firms have also hailed the upcoming trading system which will solve some problems which are presently being solved manually.
"Presently, it takes one to three minutes for executing a transaction. A transaction will be executed within one mille-second after the introduction of new Automated Trading System," said a trader who participated in the mock trading of upcoming system.
The additional features which have been included in new Automated Trading System will resolve the problems of odd lot transaction, manual input in fixing the rages of circuit breaker for individual equity and transaction of listed bonds.
The upcoming system will also remove the complexities of calculating the fractional prices ordered by investors to purchase or sell the shares of the listed companies.
In March last, the premier bourse made agreements with NASDAQ OMX and FlexT rade Systems to renew its existing trading system with a next generation trading platform.
For many years investors were facing problems to sell their odd lot shares received through the companies' bonus offer.
As per the existing system, a shareholder can sell his/her odd lot shares only if the sale order matches with another buy order in terms of number of shares placed to fulfill a lot.
"From December 11 next there will no problem in selling odd lot shares as the upcoming system has no feature of executing transaction as lot. Sale or buy order will be executed for a single share as there will be no feature of share lot" said a senior official of Dhaka Stock Exchange (DSE) having active involvement with the new system.
Asked, whether investors will create chaos at the company's annual general meeting (AGM) by purchasing one or two shares, the DSE official said in that case the securities may set a criteria of attending the AGM by holding minimum number of shares.
The DSE officials said after a few months of introducing the new Automated Trading System, investors will also be offered their own terminal so that they themselves can execute share trading.
"The upcoming system will also facilitate investors to execute share trading through the internet used in iphone and android phones," the DSE official said.
To adopt the newly facilitated trading system some innovations are also being ensured in brokers' end.
"Our computers are being upgraded to Windows 7 and Windows 8 from existing versions. At the same time, our computers must be registered with the respective manufacturing companies," said a trader of a top broker of the premier bourse.
He said there would also be no server in brokers' end as the system would be preserved by the exchange authority.
Meanwhile, the management of the premier bourse has conducted several mock trades along with giving training to traders for introducing the speedy automated trading system.
mufazzal.fe@gmail.com
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