Body formed to guide DSE IT
Professor Hafiz Md Hasan Babu, of the computer science and engineering at the Dhaka University, has been made convener of the committee
Highlights
- The body will guide the IT department technically
- It also deals with websites and mobile apps under resolution
- DSE will provide logistic supports to the body
- Investors suffer due to technical glitch
- Experts are needed to operate trading software
The capital market regulator has formed a seven-member expert committee for the IT department of the Dhaka Stock Exchange (DSE) to guide the country's premier bourse technically.
Professor Hafiz Md Hasan Babu, of the computer science and engineering (CSE) at the Dhaka University (DU), has been made convener of the committee formed on Monday last week by the Bangladesh Securities and Exchange Commission (BSEC).
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Professors Mohammad Yunus Ali and Md Shohrab Hossain of CSE at the Bangladesh University of Engineering and Technology (Buet), professors Kazi Muheymin-Us-Sakib and Md Abdur Razzaque of the same department at DU, and Habibullah N Karim, coordinator of Blockchain Olympiad Bangladesh, are the members of the committee.
Md Shohidul Islam, deputy director of BSEC, has been made the member secretary of the panel.
The expert committee will guide the DSE IT department in technical validations of the third-party order management system (OMS) to be designed and developed by stakeholders or trading right entitlement certificate (TREC) holders.
The committee will report to the commission on technical feasibility and compatibility of third-party OMS to be developed alongside the existing FlexTP and also will evaluate its performance to seamlessly communicate with the matching engine of DSE.
The committee will also submit a user acceptance testing (UAT) report for each stakeholder designed by OMS to the commission within 30 days of the completion of UAT.
The committee will also deal with DSE's website and mobile app limitations in order to resolve those and report to the commission.
The DSE will provide logistic supports and facilities to the committee.
Moreover, the DSE board of directors will define allowances for the members of the expert committee and will report the decision to the commission by 31 July 2021.
The commission considers the limitations concerning the current order management system, website, and mobile app for trading at the Dhaka stock exchange.
The commission observes that TREC holders have taken initiatives to develop their own OMS that will be connected with the matching engine of the DSE for trading.
The designed OMS requires technical feasibility and compatibility testing and performance evaluation to seamlessly communicate with the matching engine of DSE.
The commission has formed the committee to achieve its goal of smooth, efficient, scalable, and robust IT systems like OMS, website, mobile app, and related issues.
Earlier on Sunday last week trading at the Dhaka Stock Exchange halted for over an hour due to a technical glitch.
Sources said there was a huge pressure of buy and sales orders from investors since the start of the trading at the DSE and the software on the trading floor could not handle it. The technologies used by the DSE needs to be upgraded as no modern stock exchange can operate in this way.
Besides, those who operate the DSE's trading software also lack technical skills, said BSEC officials.
Such technical problems were not new at the premier bourse, where investors occasionally have to deal with problems in transactions.
