DSE: Bangladesh stock exchange upgrades Nasdaq´s X-stream INET to accomodate higher volumes

Rick Steves

“Since our commercial relationship with Nasdaq was established in 2014, DSE has continued to evolve in line with our ambition to become the leading exchange in the region and a key driver of growth for the broader economy.”

Dhaka Stock Exchange (DSE) and Nasdaq have extended their trading technology partnership, which includes an upgrade of Nasdaq´s X-stream INET in order to accommodate the increasing trading activity of the exchange with maintained market resiliency and investor integrity.

The DSE today has over 300 brokering intermediaries and processes around 400,000 equity trades per day in its 650+ listed securities with a combined market cap of around 73 billion USD.

Last year, the DSE launched a new Alternative Trading Board (ATB) and an SME market. The upgrade of its trading system will be an integral part of the exchange’s efforts to expand further.

Nasdaq’s trading technology powers more than 2,300 companies in 50 countries, including capital markets infrastructure operators, market participants, banks, and regulators.

A journey in building a world-class financial market

M. Shaifur Rahman Mazumdar, Acting MD of DSE, said: “Since our commercial relationship with Nasdaq was established in 2014, DSE has continued to evolve in line with our ambition to become the leading exchange in the region and a key driver of growth for the broader economy. By further investing in Nasdaq´s world-class technology we are confident that we will stand even better equipped to further empower investors looking to implement sophisticated trading strategies and entrepreneurs looking to raise capital in order to grow their companies and create jobs.”

Virginie Barbot, Managing Director for Marketplace Technology, Southeast Asia and Pacific at Nasdaq, commented: “Nasdaq is proud to have been trusted with deepening our already strong technology partnership with DSE. By leveraging Nasdaq´s robust and flexible technology solutions, DSE will be able to continue growing its financial footprint in South Asia while ensuring investor protection, access to capital for companies in the region as well as exciting opportunities for both local and global investors. We look forward to taking this next step in our joint journey in building a world-class financial market that will continue to benefit the region, the Bangladeshi economy and global financial markets.”

Dhaka Stock Exchange Limited is the main and largest stock exchange of Bangladesh, boasting over 650 listed securities with a combined market capitalization of around US $ 73 billion.

Fouded in 1956, the DSE’s major functions include listing of securities, settlement of trading, granting approval to the transaction/transfer of share outside the trading system of the exchange, Market Administration & control, market surveillance, and monitoring the activities of listed companies.

Read this next

Retail FX

AvaTrade seals sponsorship deal with F1’s Aston Martin team

Dublin-based forex broker AvaTrade today announced that it has concluded a sponsorship deal with Formula One’s Aston Martin Cognizant team that entails sponsorship rights and other marketing benefits.

Executive Moves

M4Markets onboards Invaxa CEO Marios Antoniou as COO

Seychelles-regulated brokerage firm M4Markets has appointed Marios Antoniou, who has a colorful career within the foreign exchange industry, in the capacity of its Chief Operations Officer.

Digital Assets

GK8 now allows clients to control their digital assets as they would their fiat

“As the institutional market is increasingly turning to self custody, our policy engine empowers them to automate transactions, approvals, and even crucial workflows, while providing the highest degree of security, consistency, governance and control.”

Digital Assets

Retail CBDCs in the UK: “Welcomed” by CryptoUK and R3, but “Dystopian” for ETC Group

“At this stage, we judge it likely that the digital pound will be needed in the future. It is too early to decide whether to introduce the digital pound, but we are convinced preparatory work is justified”, said the BoE and HM Treasury.

Institutional FX

Centroid taps Iress API to provide retail brokers with real-time market data

“It has always been a challenge to have an efficient, elegant solution for market data and order execution for retail brokers, but with Iress we have found absolutely the right partner to add to our client offering.”

Digital Assets

Ramp launches FCA-approved off-ramp product, onboards Brave, Trust Wallet, Ledger

“To obtain and maintain our FCA registration, we must meet and operate within their strict anti-money laundering and counter-terrorist financing standards. This is a huge achievement for us, as compliance is a cornerstone of our business and what we stand for.”

Institutional FX

State Street launches FIX API for Fund Connect ETF platform

“Expanding from proprietary APIs to the FIX industry standard will bring us closer to our goal of 100% digital interactions. This is another example of innovations we’ve brought to our operating model as we celebrate 30 years of servicing ETFs since the launch of SPY.”

Industry News

HollyWally opens office in Portugal to bring B2B2C wallet-as-a-service platform to Europe

“We looked at a number of centers for startups throughout Europe and were attracted straight away to Lisbon. There is great Government support and enthusiasm for startups, it’s well positioned between our Asian and US offices, it’s a cost-effective city in which to base a fintech and it’s a beautiful place.”

Retail FX

Eightcap integrates Acuity’s economic calendar for trade ideas on MT4 or MT5

“By incorporating Acuity’s cutting-edge AI technology into our platform, we are able to offer our clients a powerful new tool that will help them stay ahead of the markets. We are committed to providing an extensive range of tools and educational resources that will enhance our clients’ trading experience and allow them to trade smarter.”

<