Time running out for DSE to explain trading delay

The Securities and Exchange Commission yesterday asked the Dhaka Stock Exchange to explain the delay in start of share trading for two days in a space of one week.
The bourse will also have to explain the measures it has taken to prevent it from happening again.
Usually, trading on the DSE starts at 10:30am sharp and ends right at 2:30pm on each of the five trading days of a week.
But trading started an hour late at 11:30am and closed at 3:00pm yesterday and last Wednesday.
DSE attributed the delay to a technical glitch in its trading software, which arose while absorbing two new securities.
Many brokerage houses were unable to view all the instruments code at their trading terminals, according to the DSE statement.
After the detecting the trading anomaly on Wednesday, the DSE referred the matter to the trading software vendor, Xchanging Solutions Ltd.
The software vendor did not get back to the DSE until December 6, and said the problem occurred due to an abnormal scenario in the client application.
“Regardless, to avoid last Wednesday's scenario occurring again, we asked the brokerage houses to start logging in to the trading system from 9:00 am instead of their usual 9:30 am today [yesterday] to get the buffer time,” the premier bourse said.
“But till 10:20am, we observed that many houses could not receive instruments code properly. As a result, the DSE started the trading an hour late after resolving the problems in all broker houses.”
Meanwhile, the DSE said Xchanging Solutions has resolved the problem through a new client application patch which was received by the bourse yesterday.
“Xchanging Solutions has ensured us that this problem will not re-occur once completion of the deployment of this patch to all broker houses,” it added.

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