DSE trade to cover country in 2 years

Dhaka Stock Exchange plans to reach out trading facilities to the doorsteps of people in a span of two years.

“As part of our market expansion and development programmes, each area of the country will be brought under trading network,” said AFM Shariful Islam, acting chief executive officer, yesterday.

Presently, the DSE trading network covers Dhaka, Gazipur, Narayanganj, Comilla, Hobiganj, Chittagong, Sylhet, Khulna, Barisal, Rajshahi and Bogra districts.

The capital market operators see such expansion plan 'a timely step' in the backdrop of rising market depth.

The growth in market capitalisation is one of the tools that show increasing market depth. At the end of 2004, such capitalisation was only Tk 224.16 billion. By the end of 2008, it reached Tk1,043.80 billion.

Unveiling a 16-point future plan of the premier bourse in 2009, Islam also said within this year the listed companies, which are not being traded under central depository system (CDS), will be brought under the CDS.

At present, of the total 412 listed securities, some 170 companies are under the CDS.

A modern pricing mechanism styled 'book building' would be introduced this year to encourage the big and successful companies to be listed with the stock exchanges.

The DSE also plans to set up an independent central clearing company this year in order to speed up settlement, clearing and payments for securities, and to cope with the rising volume of trading.