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BSEC Issues New Guidelines for ATB Transactions

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The Bangladesh Securities and Exchange Commission (BSEC), the regulatory authority for the stock market, has issued new directives for the trading of shares of companies listed on the Alternative Trading Board (ATB).

On Monday (May 20), BSEC released the guidelines, stating that for the first trading day, the circuit breaker will be set at 5% above the fair value, as determined by Schedule A, Appendix 2 of the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) regulations. If no trades occur within the first six months, the selling broker will initiate an offer based on a price set by the seller.

In cases where there are no trades, the seller can set any offer price, provided it does not exceed the fair value calculated under Schedule A, Appendix 2.

From the second transaction onward, the regular circuit breaker will be 5% above the previous day’s closing price or the open adjusted price.

Additionally, the value of shares traded on the ATB cannot exceed 30% above the fair value at any time.

All equity securities traded on the ATB platform will be settled on a T+4 basis.

A listed security issuer will not be eligible for listing on the ATB if the company has increased its paid-up capital by issuing bonus shares from retained earnings within the two years prior to the application date to the stock exchange.

Before and after listing on the ATB, the issuer’s most recent financial statements must be audited by a panel of auditors as declared by the stock exchange for ATB listing.

These directives override provisions of the Dhaka Stock Exchange (Alternative Trading Board) Regulation, 2022, and clauses (e), (f), and (g) of sub-regulation 9 of the Chittagong Stock Exchange (Alternative Trading Board) Regulations.

The new guidelines are effective immediately.

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Weekly U.S. Stock Market Reports Diverse Performance

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Reviewing the U.S. Stock Markets, the Nasdaq Composite, recorded a decent hike of 555 points, reaching a closing value of 17,688 points by the end of the week. Similarly, the S&P 500 index showed a positive trend, gaining 85 point to settle at 5,431 points. Meanwhile, DJIA Index experienced a notable drop, losing 209 points during the week and concluding at 38,589 points after a week of gaining.

In contrast, Russell 3000 Index saw a gain in week performance, with a slight hike of 40 points to reach 3,077 points by the end of the week.

Moving to Russell 2000 Index, demonstrated a notable drop of 20 point, ending the week at 2,006 points.

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Weekly European Stocks Shows Negative Result

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In the Outgoing week, the European stock market displayed a massive losing performance.

Here is the data on the weekly performance of the European Stock Market, The STOXX Europe 600 index, which is considered a leading benchmark for the European market and covers approximately 90 percent of the market capitalization across 17 countries, reported a drop of 12.5 points to close at 511.05.

The United Kingdom’s FTSE 100, one of the most widely followed indices in Europe, also showed a significant drop, losing 99 points or finishing the session at 8,146.

In Germany, the DAX 30 index, lost by 555 points to reach 18,002, while France’s CAC 498 decreased by 9 points to stop at 7,503 at the end of the trading day.

Italy’s FTSE MIB, which covers the top 40 stocks traded on the Milan Stock Exchange, decreased by 1,995 points to 32,665. However, Spain’s IBEX 35, added by 412 points, to close at 10,992.

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South Asian Stocks Reports Gaining Performance in Recent Week

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A review of South Asian stock markets shows that India’s Bombay Stock Exchange (BSE) index BSE Sensex has added 299 points during the week. At the end of the week, the index stood at 76,992 points. On the other hand, the Nifty-50 index of the country’s National Stock Exchange gained by 175 points last week. At the end of the week, the index stood at 23,465 points.

Pakistan Stock Exchange Index ‘KSE 100’, shed 2,926 points last week. After a week of losing, the index settled at 76,742 points.

On the other hand, The Sri Lankan stock market index adds, and the Colombo Stock Exchange index ‘ASPI’ increased by 208 points in a week. After a week the index settled at 12,314 points.

Bhutan’s stock market index ‘BSI’ added 68 points hence the index stood at 1,515 points throughout the whole week. Nepal’s ‘NEPSE’ gain 35 points, therefore the index stands at 2,112 points.

Hence Dhaka Stock Exchange: The benchmark index ‘DSEX’ dropped by 119.51 points or 2.28 percent, in the outgoing week. At the end of the week, the index stands at 5,117 points.

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