Stocks
DSE Grants Approval to Six Back-Office Software Vendors for Market Governance
Dhaka Stock Exchange Limited, Bangladesh’s leading bourse, achieved a landmark moment in the nation’s capital market history as it conferred certificates of enlistment upon six Back-Office Software Vendors. The Certification Ceremony, hosted at the DSE Tower in Nikunja, featured key executives, including Managing Director Dr. ATM Tariquzzaman, CPA, Chief Operating Officer M. Shaifur Rahman Mazumdar, FCA, FCMA, and Chief Regulatory Officer Khairul Bashar Abu Taher Mohammed.
In his address to the assembly, Managing Director Dr. ATM Tariquzzaman, CPA, underscored the imperative need for Good Governance in the capital market. Recognizing Back-Office software as a reliable repository of records, he affirmed the commitment to upholding accuracy and transparency in their operations.
Chief Operating Officer M. Shaifur Rahman Mazumdar further stressed the paramount importance of cultivating trust among capital market stakeholders. The vendor enlistment process, he elucidated, acts as a catalyst for augmenting transparency and precision in reports, instilling confidence in the market.
Expressing concern over the transparency and accuracy of records maintained through Back-Office Software, Khairul Bashar Abu Taher Mohammed, the Chief Regulatory Officer of DSE, highlighted the relentless and rigorous review process these applications underwent, resulting in the issuance of well-deserved certificates.
The six companies honored with certificates are United Corporate Advisory Services Limited for their software UBROKER, Orange Solutions Limited for ZAB-ERP, Cygnus Innovation Limited for XBROKER, LeadSoft Bangladesh Limited for CAPITA, LankaBangla Information System Limited for Next Generation Back Office (NGBO), and DataSoft Systems Bangladesh Limited for Smart DS Trading Platform.
Preceding this historic development, Back-Office Software vendors operated without accountability or regulation. In response, the Bangladesh Securities and Exchange Commission (BSEC), in a letter dated 27th February 2022, mandated exchanges to take necessary actions for vendor enlistment. The Directive requires vendors to obtain permission from the exchange before supplying software to any TREC Holder Company, with subsequent notification to the Commission.
Before the BSEC instruction, DSE had already integrated a rule into the Dhaka Stock Exchange (Administration of Trading Rights Entitlement Certificate) Regulations, 2020, necessitating vendors to seek permission before supplying Back-Office Software to TREC Holders. Subsequently, DSE introduced the “Guidelines on Permission of Back-Office Software Vendors of TREC Holder Companies of DSE” on 6th February 2022. Following a thorough review, these guidelines received approval from the BSEC on 2nd October 2023, incorporating specific inclusions and changes to enhance the overall regulatory framework.
The enlistment of these esteemed Back-Office Software Vendors signifies a pivotal step towards bolstered accountability, transparency, and governance within brokerage firms in the capital market. The exchange remains steadfast in its commitment to fostering a secure and trustworthy environment for all market participants.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
