11 more brokerage firms get FIX certification to boost trading efficiency

The Dhaka Stock Exchange (DSE) has awarded FIX (Financial Information Exchange) certification to 11 more brokerage houses, as part of its ongoing initiative to enable brokers to deploy their own Order Management Systems (OMS) through direct API connectivity.

The newly certified institutions are NF Management Company Ltd, Akij Capital Management Ltd, Amar Securities Ltd, Commerce Bank Securities and Investment Ltd, Mona Financial Consultancy and Securities Ltd, Premier Bank Securities Ltd, Prilink Securities Ltd, Pubali Bank Securities Ltd, Remons Investment & Securities Ltd, Skyline Securities Ltd and United Securities Ltd.

DSE Managing Director Nuzhat Anwar presented the certificates to representatives of the brokerage firms at a ceremony held at the DSE Multipurpose Hall on Wednesday, according to a press release.

Speaking at the event, the DSE managing director said the prime bourse introduced an API (Application Programming Interface)-based Broker House Order Management System (BHOMS) in 2020 to enable brokerage firms to execute trades through their own OMS by connecting directly with the exchange's trading engine via API connectivity.

"The system enables brokerage houses to conduct trading activities through their own order management systems by integrating directly with the exchange," she said.

Since the launch of the initiative, a total of 76 brokerage houses have applied to the DSE to trade using their own OMS connected to the exchange's Nasdaq Matching Engine, she added.

With the latest additions, 58 brokerage houses have now received FIX certification, of which 44 have already launched their own OMS and are conducting trading activities through API connectivity, according to the DSE managing director.

DSE officials said the introduction of API-based trading systems would strengthen the technological capability of brokerage houses and enhance the efficiency and speed of transactions in the capital market.

FIX certification is a prerequisite for launching a brokerage house's own OMS. By installing their own systems, TREC (Trading Rights Entitlement Certificate) holders can process trades more quickly, manage multiple investor portfolios more efficiently and reduce reliance on the exchange's central trading system.

The exchange aims to bring all brokerage houses under the FIX certification framework and has pledged to provide technical support to firms that are yet to adopt the system.

Senior officials of the exchange, including Chief Operating Officer Mohammad Asadur Rahman, Chief Technology Officer Dr Md Asifur Rahman, ICT Division General Manager Md Tariqul Islam and Deputy General Manager Hasanul Karim, were present at the event.

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