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BSEC probe suggests DSE OMS upgrade

| Updated: September 29, 2020 11:44:39

BSEC probe suggests DSE OMS upgrade

The probe committee of the securities regulator has made a set of recommendations including upgrading OMS (order management system) for smooth execution of trading on Dhaka Stock Exchange (DSE).

The committee led by Prof. Dr. Md. Mustafizur Rahman, chairman of Computer Science and  Engineering Department at Dhaka University (DU), made the recommendations in a report submitted to the securities regulator.

The committee was formed in August following technical glitches which hampered trading on the premier bourse on several occasions.

A top official of the securities regulator said the committee found vulnerability in IT system managed by the DSE. "The committee suggested a new OMS as the existing one has not enough capability to provide due service," the official said.

The committee said the DSE should not depend only on the OMS introduced by FLEXTRADE, a global provider of order and execution management system, according to the official of the securities regulator.

The Bangladesh Securities and Exchange Commission (BSEC) on Sunday held a meeting with the board of directors of the DSE.

At the meeting, the BSEC gave a presentation on the recommendations made by the probe committee.

As part of a uniform move for a digital platform, all brokers of the stock exchange will be provided with a new OMS."The regulator is considering loans for the stock brokers, presently who are not capable to purchase OMS", the BSEC official said.

He said the probe committee found weakness in managing the website of the premier bourse.

"The weakness took place mainly because of lack of sufficient manpower in IT department of the DSE," the BSEC official said.

He said the BSEC set a target to bring all stakeholders on a digital platform by December next year.

The premier bourse on Saturday took another decision to vacate the post of its shareholder director Minhaz Mannan Emon for not attending the board meetings held for a period of around four months.

The DSE's board of directors took the decision of removing Mr. Emon in a board meeting held at the DSE office. Asked, DSE Chairman Md. Eunusur Rahman said it was an internal affair of the board. "The board took the decision."

On Sunday, the name of Mr. Emon was not found in the list of the directors of the DSE. Asked, a shareholder director of the premier bourse said Mr. Emon did not place leave petition properly while he was in jail.

"Emon's wife placed a leave petition without taking his signature. The jailer was also supposed to be informed of the leave petition," said the DSE director.


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