About 4.0pc trade executed through the app in July

DSE mobile app users now 34,080

FE Online Report | Published: August 21, 2018 12:52:19 | Updated: August 21, 2018 18:13:10


Share trading through DSE mobile app continued to rise as the number of active users of the application exceeded 34,000-mark recently.

The Dhaka Stock Exchange (DSE) on March 9, 2016 launched the mobile-based share trading app. The app is available on Google Play Store and offers features to help users track the indices and get market and company information.

The app’s features include market and trading statistics in real time, company information, portfolio information and company news.

The number of active users of the DSE mobile application increased to 34,080 as of August 20 (Monday) from that of around 23,863 on January 1, 2018.

During the last eight months, DSE added 10,217 mobile app users.

According to DSE, the investors using DSE mobile app placed above 4.2 million orders in the fiscal year (FY) 2017-18. Of those orders, above 2.7 million were executed.

The DSE official said, in July around 4.0 per cent turnover was executed through DSE mobile app which was 3.0 per cent in July last year.

An executive of DSE said, the prime bourse is trying to facilitate investors through best uses of technology as investors’ interest to DSE mobile app is gaining momentum.

 Market experts, however, said the number of users of the app was insignificant compared with the number of beneficiary owners’ accounts.

According to the Central Depository Bangladesh Limited (CDBL), which preserves electronic data of all individual and institutional investors, the total number of active BO accounts is 2,648,753 as of Monday, the last trading day before Eid-ul-Azha vacation.

The existing transaction system does not provide instant account related information without making any call to a traders, the DSE mobile app gave that comfort to investors.

Considering the fact, the bourse is optimistic that the application will be popular gradually, he said.

Android phone 4.4-version with four inches display and 320 pixel resolutions are the minimum requirements for using the DSE Mobile app.

The application allows users to place orders directly to the bourse’s server but traders and brokers are allowed to interrupt if any unusual order is placed.

-babul/rmc

 

 

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