LankaBangla joins Bloomberg terminal

LankaBangla Securities Limited became the first stockbroker to use a Bloomberg terminal to reach global investors and provide them information on Bangladesh's capital market.
Bloomberg is an international financial service provider, which connects around 2.5 lakh subscribers, including foreign fund managers, world's central banks, investment bankers, brokerage houses and financial institutions.
Stockmarket analyses, company research and economic data will be available on the terminal and Bloomberg subscribers will get this services posted by LankaBangla.
Mohammed Nasir Uddin Chowdhury, chief executive officer of LankaBangla, said: "So far the investors, especially the foreign fund managers, came to Bangladesh market on their own. By subscribing to Bloomberg's terminal, we are going to them."
He was presenting the features of LankaBangla's terminal on Bloomberg to newsmen in Dhaka yesterday.
"It will also help accessing a real-time data stream, unparalleled in scope and depth," he said. "We will get any financial analysis on world economy or stockmarket through the terminal."
The tie-up creates an enormous opportunity for Bangladesh's capital market to attract more foreign investments, he said. Currently, foreign transactions are around 1 percent of the total market capitalisation of the Dhaka Stock Exchange.
LankaBangla signed a two-year contract with Bloomberg to use the terminal. "It takes two years to complete the total process for using the Bloomberg's terminal," Chowdhury said.
Mahbubul Anam, director of LankaBangla, Natasha Mehta and Tanya Chopra of Bloomberg India, Wali Ul Islam, deputy chief executive officer of LankaBangla, were also present.