Dhaka, Bangladesh (BBN)-A “technical glitch” delayed trading activities for 90 minutes on Dhaka Stock Exchange (DSE) on Sunday, for the fifth times since the installation of the new trading platform in December last year.
Earlier on May 24 and 25 and August 12, 13 this year technical glitches had halted trading for hours, which forced the authorities even to reduce the trading hours for two times.
Stockbrokers and investors expressed their dissatisfaction over repeated ‘technical problems’ at DSE trading.
Trading at the DSE that usually takes place between 10:30am and 2:30pm, started at 12 noon on Sunday and continued until 4:00pm and trading took place for four hours as usual.
“The trading activities of Dhaka Stock Exchange had a delayed start due to a technical issue which appears to relate to the infrastructure and not the matching engine or the order management system,” DSE said in a statement on Sunday after the trading session.
“Work is in progress to identify, isolate, and rectify the issue. DSE management is very much regrets any inconvenience caused to market participants,” said the DSE statement.
The technical glitch, however, could not mar the market sentiment as the prime index of the DSE soared 65.18 points or 1.43 per cent to settle at 4,596.81 points.
Turnover also improved to BDT 4.30 billion, which was 6.7 per cent higher than the previous session.
Meanwhile, the securities regulator- Bangladesh Securities and Exchange Commission (BSEC)- asked the premier bourse to immediately explain as to why and how the technical problems took place.
DSE launched the new trading platform on December 11, last year to get rid of repeated technical glitches, particularly on occasions of some debut stocks with huge trade volume.
NASDAQ OMX, the world’s largest exchange company based in the US, provided the main part – matching engine – while FlexTrade Systems provided the order management system at the brokers’ end.