DSE launches share trading app next week
The Dhaka Stock Exchange is all set to launch a mobile application on March 9 to allow investors to do share trading on their mobile phones.
The DSE has already completed test runs on the app. Although there was a malfunction in one of the eight silos in January, the DSE later fixed the problems and completed the test run successfully in the seven other silos.
“This application gives the opportunity to anyone to do share trading from anywhere without physically being present at a brokerage house and without the involvement of authorised traders,” said Swapan Kumar Bala, managing director of the premier bourse.
The app will also help attract fresh investors in the market; it can initially be operated on android devices but will later be upgraded for iOS and other platforms, he said.
Finance Minister AMA Muhith is expected to formally launch the app -- DSE Mobile -- at a function at Bangabandhu International Confere-nce Centre in Dhaka.
In addition to buying and selling shares, the app will provide some featured information, including buy or sell alerts, notifications and portfolio status to the investors, which are not easily available on the website or via brokers' services.
“It will help investors make investment decisions after analysing the information,” said Bala. “It will also reduce misgovernance in share trading.”
Investors often allege that authorised traders sell shares without their prior permission, he said.
“But now, such activities would not happen, as firstly, investors can operate their portfolios directly and secondly, investors will get notifications immediately after a trade execution,” he said.
An investor, however, will first need to register with the concerned broker and then install the app from the Google Play Store.
The application was developed by FlexTrade Systems, a global leader in broker-neutral trading platforms.
Investors can initially use the app free of cost. “But we have plans to sell featured information through the app to the investors,” said Bala.
The DSE is introducing the mobile app in line with its trading system upgradation process. The DSE upgraded the entire trading system, replacing its 16-year-old technology, in two segments at a total cost of around Tk 35 crore.
Nasdaq OMX, a leading provider of trading and exchange technology, supplied the matching engine, while FlexTrade Systems provided the order management system at the brokers' end.
Earlier in November, the DSE introduced a mobile app styled 'DSE Info' to disseminate market data to investors and other members of the financial community.
The app's features include market and trading statistics in real time, company information, portfolio information and company news. The ICT Division and the DSE developed the app jointly.