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DSE automated trading engine to be upgraded Move to facilitate 100,000 deals a day

STAR BUSINESS REPORT
The Dhaka Stock Exchange (DSE) is planning to upgrade its automated trading system, a move officials hope will further streamline stock trading in the secondary market.
The upgrading will enhance DSE's trade capacity from existing 15,000 deals a day to up to 100,000 with initial capacity of 50,000 deals a day by increasing the number of workstations to as high as 3,000 from present 650.
Unveiling the plan, DSE President Ahmed Iqbal Hassan said: "The improved system will provide more flexibility to brokers and traders complementing trade settlement through the central depository system."
The plan is part of DSE's constant move to provide its members with state-of-the-art technologies used by the stock exchanges in the developed countries, a DSE press release quoted him as saying yesterday.
The present automated trading system of the country's premier bourse uses both local area network (LAN) and wide area network (WAN). The main server has 140 connecting nodes for as many brokers linking 600 PCs through LAN. For off-campus brokers, the server has 35 nodes to connect 100 PCs
through WAN.
The upgrading will facilitate online real-time data generation providing a perfect platform for interfacing internet trading from remote areas, DSE said.
The new system will also include risk management and surveillance software, enabling the surveillance departments to keep an online vigil during off-trading hours.
DSE Chief Executive Officer Salahuddin Ahmed Khan said the stock market is showing signs of recovery and maturity and the number of deals are picking up everyday, which necessitated upgrading of the trading engine.
"With the volume of trade shooting up everyday, we have to enhance our capacity to cope with future needs, otherwise it will slow down the system disrupting normal trade."
Salahuddin said, "Our mission is to provide the best platform for nationwide trading by connecting all the cities in Bangladesh."
"We are also planning to implement internet-based trading to rope in expatriate Bangladeshis," the CEO said.
Salahuddin said the enhanced system will facilitate greater number of branch offices for trading from within and outside of Dhaka city.
The DSE introduced automated trading system in August 10, 1998
adopting mainframe server -- TANDEM NonStop Platform -- from Tandem Computers Inc of the US, which is now merged with Hewlett-Packard (HP).
Indian company Indigo Technologies, now SSIT, supplied Tandem Electronic Security Architecture (TESA) application software for executing daily trade at $1.7 million.
According to the previous agreement signed between DSE and Tandem Computers in January 16, 1997, the US company was to provide free maintenance service for one year and two months from the installation date.
DSE later extended the maintenance deal for another five-year, which is set to expire on October 31 this year.
The DSE has formed an upgradation and replacement committee incorporating experts from Bangladesh University of Engineering and Technology and Shahjajal University of Science and Technology, Sylhet for adopting modern technology.
In line with the committee's recommendation, DSE sought an offer from HP. If the offer suits DSE requirements, the bourse may soon employ HP to upgrade the system.