Bangladesh's Premier Exchange to Upgrade Trading System to Further Increase Regional and International Investor Demand
Dhaka Stock Exchange (DSE) and NASDAQ OMX (Nasdaq:NDAQ) have signed an agreement for NASDAQ OMX to deliver its industry leading trading technology, X-stream INET, to Dhaka Stock Exchange, as the exchange company looks to expand its business regionally and globally, and boost the power and resiliency of its trading system.
"It is an honor to have been selected by Dhaka Stock Exchange, the premier exchange in Bangladesh, to provide it with our world leading trading system, X-Stream INET," said Robert Fröjd, Managing Director and Regional Manager, South Asia, Southeast Asia and Pacific, NASDAQ OMX. "We look forward to a long and successful relationship with Dhaka Stock Exchange and supporting its business development plans in this fast-growing and dynamic part of the world."
To meet today's increasing investor activity in Bangladesh, DSE—which has 250 brokering intermediaries, around four million CSD investor accounts and having processed around 400,000 equity trades per day—is embarking upon its next stage of development of which upgrading the trading system is an integral part. Prior to selecting NASDAQ OMX, the DSE leadership led a comprehensive and rigorous process of consultation of all stakeholders including presentations to the entire broking community and the Bangladesh Securities and Exchange Commission.
"We are pleased to partner with NASDAQ OMX in upgrading our trading platform after a very extensive selection process," said Professor Swapan Kumar Bala, FCMA, Managing Director, Dhaka Stock Exchange. "As a pivotal player in the economic development of the country, DSE is dedicated to providing the world's finest trading technology to our marketplace and all the participants within."
NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 80 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.