NEW YORK and DHAKA, Bangladesh, Dec. 12 (Korea Bizwire) — Dhaka Stock Exchange (DSE) and Nasdaq (Nasdaq:NDAQ), today announced that the Dhaka Stock Exchange has gone live with its new trading engine powered by Nasdaq’s X-stream INET technology. This refresh, operating on the most widely deployed trading platform in the world, will boost the exchange’s technological capability and capacity, enhance market resiliency and support DSE’s aspiration to become a multi-asset regional marketplace.
“Our new trading system, incorporating Nasdaq’s X-Stream INET matching engine, transforms the ability of our exchange in its effort to better serve the business requirements of financial intermediaries both local and international,” said Professor Swapan Kumar Bala, Managing Director, DSE. “A very challenging timetable was successfully achieved by the dedicated efforts of our management, our officers, our consultant and our technology partners led by Nasdaq. The new system will have multi-asset class capabilities on a multi-platform offering – we anticipate making further announcements in this regard over the coming months. Dhaka Stock Exchange is now proud to offer a leading platform for issuer and investor intermediation.”
The new trading technology platform is an integral part of DSE’s efforts to broaden and deepen its capital markets and increase regional and international investor demand as one of the central sources of economic activity in the South Asia region. DSE has 250 brokering intermediaries, around four million CSD investor accounts and had processed around 400,000 equity trades per day. Nasdaq’s X-Stream INET equips DSE with the next generation technology needed to attract a variety of market participants both regionally and globally. This important capital market modernization project took an unprecedented nine months to fruition, reflecting strong partnership and commitment of both exchanges–Nasdaq and DSE– in excellence in delivery and execution.
“Nasdaq is proud to be selected as the new trading technology that will power an key economic trading resource in the South Asia region and for the Bangladeshi economy,” said Robert Frojd, Managing Director and Regional Manager, South Asia, Southeast Asia and Pacific, Nasdaq. “We are dedicated to a long-term partnership with the Dhaka Stock Exchange as they become a key part of the financial economy, improving the future of our capital markets on a global level.”
Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
About Dhaka Stock Exchange:
Dhaka Stock Exchange Limited (DSE) is the main and largest stock exchange of Bangladesh. The Dhaka Stock Exchange has over 500 listed securities with a combined market capitalization of around US $50 billion. Dhaka Stock Exchange started operation in 1956 and the major functions of DSE are Listing of Publicly Traded Companies, Settlement of trading, granting approval to the transaction/transfer of share outside the trading system of the exchange, Market Administration & Control, Market Surveillance, Monitoring the activities of listed companies etc. To learn more visit www.dsebd.org.
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Nizam Uddin Ahmed
Source: NASDAQ OMX via GLOBE NEWSWIRE