Regulator starts public hearing on online trading
The BSEC executive director said about 10% of transactions in the country are done through mobile
The stock market regulator has for the first time started a public hearing on problems and possibilities of internet-based trading.
Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE) Training Academy jointly organised the hearing online on Monday.
The commission heard the views of the representatives of the intermediaries on the problems and possibilities of internet-based transactions.
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BSEC Commissioner Md Abdul Halim was the chief guest at the hearing.
He said the BSEC enforces laws to regulate the market as the regulatory body.
In addition, the current commission believes that stakeholders have an important role to play in good governance, said Halim.
"We are talking about the fourth industrial revolution, but our IT efficiency has not reached that level yet. We need lots of improvements in the future."
BSEC Executive Director Mohammad Rezaul Karim said, "We want to know the obstacles in this sector."
"Internet-based transactions here refer to the submission of an investor's own buy and sale orders. The system was launched at the DSE in March 2016," he said.
Karim said about 10% of transactions in the country are done through mobile.
It is now helpful during the Covid-19 pandemic, he said.
"The number of internet-based transactions is higher around the world, except for India and Bangladesh. We need to encourage such transactions," said Karim.
"If we want to ensure good governance, transparency, and accountability in the stock market, we have to move forward with technology development. All transactions have to be internet-based," he added.
DSE Managing Director Kazi Sanaul Hoq and Chief Technology Officer Ziaul Karim answered various questions of the participants about the problems and solutions of internet-based trading.
