Be Rich got approval as first market maker for stock market

Be Rich Ltd, a stock broker of Chittagong Stock Exchange, has got approval as the country's first market maker for the stock market.

Market makers help keep the market functioning, meaning if anyone wants to sell a bond, they are there to buy it.

Similarly, if anyone wants to buy a stock, they are there to have that stock available to sell.

Market makers are useful because they are always ready to buy and sell as long as the investor is willing to pay a specific price.

Market makers essentially act as wholesalers by buying and selling securities to satisfy the market and the prices they set reflect market supply and demand.

Today, Bangladesh Securities and Exchange Commission (BSEC) decided to give licence to the institution following Bangladesh Securities and Exchange Commission (Market Maker) Rules, 2017.

The BSEC framed the market maker rules in 2000 and amended it in 2017. As per rules, the minimum capital requirement for becoming a market maker is Tk 10 crore in paid-up capital.