4 years ago

Significant rise in transactions through DSE mobile app

Published :

Updated :

The country's premier bourse witnessed a significant rise in share transactions through DSE mobile app in the just concluded fiscal year (FY) compared to previous FY.

The number of orders for share transaction through DSE mobile app has become noteworthy because mobile-based transactions attracted investors.

According to information of Dhaka Stock Exchange (DSE), investors placed 6.9 million orders through the DSE mobile app in the FY 2018-19.

In the FY 2017-18, investors placed 4.2 million orders through the mobile app.

As a result, the number of orders, which were placed using mobile app, rose 57 per cent or 2.7 million in the FY 2018-19 compared to that of the FY 2017-18.

The number of active users of the mobile application also rose significantly during the FY 2018-19 compared to that of previous FY.

At the end of the FY 2018-19, the number of active users of the DSE mobile app stood at 46,283, which was 34,080 as of July, 2018.

The country's premier bourse DSE launched the mobile-based share trading app on March 9, 2016.

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.

Of 6.9 million orders placed in the FY 2018-19, above 4.7 million orders were executed on the DSE.

Of 4.2 million orders, 2.7 million were executed in 2017-18 on the premier bourse.

The DSE officials said they are trying to facilitate investors through best uses of technology considering investors' increased interest on mobile-based share trading.

The market insiders, however, said the number of mobile app users is insignificant compared to total number of beneficiary owners' (BO) accounts.

According to information of the Central Depository Bangladesh Limited (CDBL), the total number of active BO accounts stood at above 2.8 million as of June 30, 2019.

On the other hand, the number of mobile app users is 46,283 only as of June, 2019.

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 exchange's server but traders and brokers are allowed to interrupt if any unusual order is placed.

In December 2018, the prime bourse decided to charge Tk 150 per month on the use of its investment app. Later, the bourse backtracked from the decision, considering the declining market situation.

[email protected]

Share this news