DSE app goes haywire amid investor influx
Stock investors faced problems executing trade through the Dhaka Stock Exchange (DSE) mobile app last week as the system was caving in to participation influxes.
The problem was turning acute in the first and last few minutes of the designated trading period, for which the bourse has decided to keep mobile trading on halt from 10am to 10:30am and 2pm to 2:30pm.
This will come into effect from tomorrow, according to the DSE.
The mobile trading system was designed to execute around 8 lakh trades in six hours but in the last few days it was more than double that, said a DSE official preferring anonymity.
For instance, in the first 50 minutes of one day, around one lakh trades were executed, overwhelming the system, he added.
The DSE launched the app on March 9, 2016 to bring ease to trading of stocks and give a boost to the market.
The app was developed by FlexTrade Systems. Apart from executing buy and sale orders, the app features real time display of market and trading statistics, company and portfolio status, company news and purchase and sale alerts.
"I have been facing problems in logging in to the app over the last few days and whenever I did manage to log in, I could not place orders," said stock investor Motahar Hossain Masum.
This is a huge problem in executing trade, he said.
"In the end, though I did manage to ask my stock brokerage house to execute my order, it was not in time for the price I expected," Masum added.
A number of brokerage firms confirmed that their investors faced the same problem and requested to solve it.
Brac EPL Stock Brokerage Manager Md Rasel acknowledged receiving phone calls from investors regarding such problems.
The problems in the DSE mobile app turned acute over the past three to four days. The DSE should fix the problems otherwise investors will lose heart, which may impact the market, Rasel added.
"We have already informed our vendor and we are working on it to bring infrastructural changes," said DSE Chief Technology Officer Md Ziaul Karim.
"We hope to solve the problem in three weeks," he said, adding that the problems were acute in the opening and closing minutes.
"So, at first we will not allow investors to trade through mobile phones during that time," Karim said.
The DSE witnessed the decade's highest turnover of Tk 2,546 crore last week. The daily average turnover of the premier bourse was Tk 1,990 crore in the week, which was 37 per cent higher than that of the previous week.
The DSEX, the benchmark index of the DSE, rose 4 per cent to 5,621 points at the end of the week.
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