Three more brokerage firms get FIX certification from DSE

Three more stock brokerage firms – BRAC EPL Stock Brokerage, NBL Securities and Sheba Capital – have received FIX (financial information exchange) certification for installing their own order management system (OMS).

The FIX certification was awarded on Tuesday at a ceremony held at the office of Dhaka Stock Exchange (DSE) situated at Nikunja of the capital Dhaka, says a press release.

As part of the continuous process of adopting their own order management system, recently they have completed user acceptance testing successfully.

FIX Certification is the previous step to launch the organization’s own Order Management System (OMS). FIX Certification is a very important step to verify system compatibility of DSE’s matching engine and broker-hosted order management system (OMS) to go OMS Go- Live.

The DSE officials said 49 brokerage firms so far applied for introducing their own OMS as per choice.

Earlier, LankaBangla Securities, City Brokerage, First Capital, Shanta Securities and United Financial Trading Company had received Fix Certification for introducing their own OMS and they already started their own Order management system.

The introduction of the brokerage firms’ own OMS reduced pressure on the OMS of the stock exchange.

Along with technological development, the capital market is also advancing. Transactions through their own order management system are a major step in DSE’s digitization programme, said Sattique Ahmed, chief financial officer of the DSE.

In the past DSE used to execute transactions only through a matching engine with a central order management system, he said.

Now TREC holders of DSE have access to different OMS systems. All are requested to exercise caution in conducting the new process of incorporation of this OMS, he added.

He said that DSE has already acquired the capability to provide Fix certification. Now DSEs, technology providers and brokerage houses have to work together.

“Capital market services in the developed world are mainly app-based and it is not possible to launch the app without OMS,” said Khairul Bashar Abu Taher Mohammad, chief regulatory officer of the DSE.

Samiul Islam, senior general manager of the DSE, Ahsanur Rahman, chief executive officer of BRAC EPL Stock Brokerage, Md Shahadat Hossain, senior principal officer of NBL Securities and Md Khademul Islam Al Azad, chief executive officer of Sheba Capital, were also present among other.

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