Siyam Hoque

Published:
2020-06-16 11:38:32 BdST

Internet-based trading in the offing


Country's main bourse has taken a move to launch digital trading considering the safety and security of investors and other market stakeholders as the deadly virus goes virulent across the country.

Mobile app and other devices will be used in such kind of trading.

As part of the move, a two-day workshop titled 'role of stock brokers in internet-based trading', arranged by DSE Training Academy ended on Monday.

A total of 400 officials of brokerage houses of DSE participated in the course and they learned about many aspects of internet-based trading.

Meanwhile, the securities regulator has suggested both the bourses to use digital platforms for holding their different meetings in order to avoid large gathering at one place.

The Bangladesh Securities and Exchange Commission (BSEC) has made the suggestion through an order issued on June 11 amid the growing infection of the deadly virus.

In order to avoid large gathering at one place and to maintain social distancing for holding shareholders' meeting, if necessary, board meeting, board committees' meeting and meeting of the teams formed by the board, both the stock exchanges may use digital platform at different locations considering the safety of the investors and the professionals, the BSEC's order said.

The order also said the meetings will be held subject to ensuring proper protective measures, ensuring voting and other rights of shareholders or members and other compliances in other regulatory framework till December 31, 2020.

"In case of using any digital platform, proceedings of the meetings shall be recorded in both the soft and hard copies in such a way that subsequent verification can be undertaken and such hard copies shall be duly authenticated as per the requirements," said the order of the securities regulator.

Earlier, the securities regulator has asked the listed companies to hold AGM/EGMs and board meetings and disseminate price sensitive information using digital platforms to avoid large gathering in view of raging COVID-19.

The BSEC issued a directive in this regard on March 25 following the proposals made by some listed companies and the Bangladesh Association of Publicly Listed Companies (BAPLC).

The securities regulator said the directors of the listed companies may hold their board meetings through digital platform subject to limitation and compliances in other regulatory framework.

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