Fair to popularise CSE's online trading platform
The Chittagong Stock Exchange is set to organise a two-day fair next month to promote its internet trading platform, which is yet to gain popularity almost ten years after its launch.
Mock transactions through the bourse's internet trading system will be showed to the investors, who can also participate in the trading, said Syed Sajid Husain, managing director of CSE.
Husain's comments came at a media briefing organised at the bourse's Dhaka office yesterday as part of its plan to hold regular briefings on the first and third Mondays of each month.
Stalls will be also be kept at the ITS fair for the CSE TREC (trading right entitlement certificate) holders, different IT firms and financial institutions.
The bourse also plans to introduce three new indices -- shariah index, IPO index and benchmark index -- as part of its business plan under demutualisation era.
The CSE is in talks with the National Stock Exchange of India, who will make a presentation on the indices at the Bangladesh Securities and Exchange Commission by the end of this month.
Husain said the bourse is looking for strategic partners, in line with the demutualisation scheme that separated the exchanges' management from ownership to bring transparency and accountability to the market.
For that end, CSE is communicating with institutions, mostly from abroad.
The CSE chief said the country's capital market is mainly equity-based and it is not possible to create a rich stockmarket only based on equity securities.
Diversified products such as derivatives are essential to make a stockmarket rich, he added.
Replying to queries, he said although the stock exchanges are considered primary regulators, they cannot take actions against irregularities especially in case of listing due to limitations in rules and regulations.
“We have brought many changes in the listing regulations and submitted these to the BSEC for regulatory approval,” he said, adding that the modifications will allow the bourse to take actions against the issuer companies or auditors or the issue managers.
Although there is a regulatory provision for listed companies for maintaining websites, there are many firms whose websites are either temporarily down or under construction, he said.
There is also lack of seriousness among the stock exchanges to supervise the compliance of the regulatory directive, Husain added.