Dhaka Stock Exchange (DSE) has given fix certification to six brokerage houses. Fix certification is given to brokerage houses to launch their own OMS through API connectivity.
Last Wednesday (October 23) FIX certification was officially given to six brokerage houses at DSE’s training academy.
The information was given in a press release sent from Dhaka Stock Exam on Thursday (October 24).
The brokerage houses are Midway Securities Limited, Uniroyal Securities Limited, Prime Bank Securities Limited, International Securities Company Limited, CAL (Cal) Securities Limited and Doha Securities Limited.
DSE Chairman Mominul Islam gave the certification. The program was moderated by Syed Mahmood Zubair, Deputy General Manager, Product and Market Development Department, DSE.
DSE Managing Director (Acting) Satvik Ahmed Shah, General Manager of Product and Market Development Division and Acting COO were present at this time. Chamiul Islam, Chief Regulatory Officer of DSE Khairul Basar, Acting General Manager and CTO (in charge) of ICT Division. Tariqul Islam
DSE Chairman Mominul Islam said on the occasion that after every bad period, a new journey begins. I think it has started. Capital markets have been ignored in the past. Technology is very important for capital markets. I am very happy that today 6 brokerage houses have received FIX certificate. If it is introduced, the capacity of the institutions will increase a lot.
He added, “It is a matter of great pleasure for us that a domestic company is providing this service at an affordable cost.” We have a lot of talent. But due to lack of initiative they are not being utilized properly. Small initiatives can help us reach our goals. Which can contribute to the country’s capital market and economic development.
The chairman of DSE also said that if all the brokerage houses introduce their own OMS gradually, the quality of customer service will improve further. Which will play an important role in the development of the capital market. We have always felt that if the stock market is to achieve its primary goals, there is no alternative to advanced digitalization. This issue of fix certification will take us a long way and develop an efficient capital market. The Central Order Management System (OMS) of the Dhaka Stock Exchange has certain feature structures. It is same for all users. A Broker Hosted Order Management System (BHOMS) enables a broker to provide value added services to its investors at its own convenience.
DSE Acting Managing Director Satvik Ahmed Shah thanked those who have worked hard to develop and implement the broker’s hosted order management system, saying that this initiative is not just a technological improvement; This is an important milestone towards enhancing the efficiency and effectiveness of our capital markets. Capital markets are changing rapidly. Keeping up with the growing demand for transparency, speed, and security is critical. Introduction of Broker Hosted Order Management System is a step taken by DSE, which will help our brokers manage orders more effectively and efficiently.
Note that Dhaka Stock Exchange has taken the initiative to launch API (Application Program Interface) based BOOM from 2020. In view of this, 59 brokerage houses applied to DSE to transact through its own order management system with API connection to Nasdaq matching engine. Already 16 broker houses have been given fix certification. 12 broker houses have launched their own OMS through API connectivity after getting fix certification.
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