Investors suffer for malfunctioning DSE mobile app
Investors yesterday faced prolonged malfunctioning of the DSE mobile app while trying to execute trade, all at a time when the digital mode is enabling the stock market to stay open amidst the ongoing lockdown.
As a result, mobile trading dropped yesterday. Order submission through the app dropped 38 per cent to 26,321 yesterday from that the day before.
Trading through the mobile app started experiencing issues early in the day, said a mid-level official of a stock brokerage firm preferring anonymity.
Stock prices were not updated while order submissions were not accepted in a timely manner.
"A few transactions were completed but only after a long time," he said, adding that the app malfunctioned whenever trade increased.
Investor Motahar Hossain Masum was able to execute one transaction despite having tried for more.
"During the trading hour, I tried many times to trade through the app but it was not taking orders," he said.
Besides, the share prices sometimes did not even show on the screen, Masum added.
Since it the app was non-operational, he was forced to call his broker to make a trade.
Dhaka Stock Exchange (DSE) launched the app, developed by FlexTrade Systems, on March 9, 2016, to facilitate trading.
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.
"We have already spoken with the DSE to solve some of the problem so the inconvenience would be lesser tomorrow (Thursday)," said Mohammad Rezaul Karim, spokesperson of the Bangladesh Securities and Exchange Commission (BSEC).
"The pre and post order submission was closed a couple of weeks earlier but it is going to resume from Thursday, so the congestion will be lower now," he added.
Investors will get 15 minutes before and after the trading hour to submit their orders.
Currently, 20,000 users can simultaneously enter the app through their mobile phones. This limit will soon be enhanced manifold so that problems are reduced further.
If an investor is not conducting trade, then it would be better to log out of the system in order to avoid congestion, said Karim, also an executive director of the BSEC.
"We are working to solve all the problems of the app," he added.
Md Ziaul Karim, chief technology officer of the DSE, told The Daily Star that the bourse has spoken with all brokers to change their habit of remaining online.
Frequently logging in and out of the app also overloads the system as it requires authentication every time.
"So, we recommend using a separate cell phone for the app so that any phone call does not disrupt the system," Karim said.
Investor behaviour also needs to change as many place unrealistic orders that cause a backlog in the system, he added.
An order was previously executed against two order submissions through the app but the ratio is now one against every four submissions.
This indicates a rise in unrealistic order submissions.
Meanwhile, some investors log into the system but do not conduct trade.
"We are working with the brokers so that awareness can be raised in this regard," he said.
In response to a query, the DSE official said they were working to upgrade the system to resolve all issued faced on the platforms but it would take time.
"Besides, the ongoing coronavirus pandemic has slowed down our activities," Karim added.