DSE grants FIX certification to nine more brokerage firms

The Dhaka Stock Exchange (DSE) has awarded FIX (financial information exchange) certification to nine more brokerage firms as part of its initiative to introduce in-house order management systems (OMS) through API connectivity in all brokerage houses.

Mohammad Asadur Rahman, acting managing director of DSE, formally handed over the certificates to the recipients at a ceremony held at the DSE board roomon Thursday.

The newly certified brokerage houses are Bangladesh Finance Securities, Fintra Securities, IDLC Finance, IIDFC Securities, LankaBangla Securities, MTB Securities, SAR Securities, South Asia Securities and Weifang Securities. LankaBangla Securities received recertification.

The DSE launched its API-based Broker House Order Management Systems (BHOMS) programme in 2020. Since then, 65 brokerage houses have applied to connect their systems with the NASDAQ Matching Engine. With the latest additions, 47 firms have secured FIX certification, and 35 have already launched in-house OMS platforms.

FIX certification is mandatory for any brokerage house looking to operate its own OMS. Such systems allow TREC holders to process trades faster, manage investor portfolios with greater accuracy, and reduce reliance on the DSE's central OMS.

At the certificate handover ceremony, Asadur Rahman said the DSE is prioritising digital transformation of the capital market with the objective of turning it into a customer-centric service organisation while upholding regulatory standards.

"We expect to launch a one-stop digital service by next month, including a modern landing page for the website, an online document submission system for TREC holders, and stakeholder-feedback-based compliance and data-flow improvements," he said.

DSE Chief Technology Officer Dr Md Asifur Rahman said stock exchange technology differs sharply from banking systems, as even a momentary service disruption can affect the entire market.

"So, we always have to be alert, focused, and standards-compliant. With the recent centralised system integration, our technology position is now very close to global standards, in some cases even ahead," he said.

Enabling local teams to develop and operate OMS applications represents both technological progress and a national achievement, he added.

The DSE is trying to bring all brokerage firms under FIX certification. For those who are yet to adopt this system, the DSE will provide the necessary support, said acting managing director Asadur Rahman.

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