The World Federation of Exchanges in principle has decided to award full membership to the Dhaka Stock Exchange as the bourse has fulfilled all criteria required for the upgradation.
The DSE is an associate member of the federation since 2015. Before that, it was a corresponding member of the WFE from 2012.
Established in 1961, the WFE, formerly known as the International Federation of Stock Exchanges, is a UK-based trade association of 64 publicly regulated stock, futures, and options exchanges.
Meanwhile, the DSE, the country’s premier bourse,
also received certificate from the International Organisation for Standardisation as the bourse fulfilled all the requirements in this regard, said DSE officials.
Incorporated in 1954, the DSE which became demutualised in 2013 and now is in search of a strategic partner to sell its 25 per cent shares as part of the demutualisation, has been trying to increase its international recognition by strengthening ties with international organisations, they said.
On the WFE full membership, DSE managing director KAM Majedur Rahman, who attended the WFE conference held in Colombia in November 2-4, told New Age on Sunday, ‘DSE’s upgradation in the WFE, however, will be effective after the federation’s inspection to the DSE.’
WFE officials may visit the bourse in January next year, Majedur said.
He also expected that the upgradation would also promote reputation of the bourse in the international arena.
Performance of the bourse’s management and board, size of the country’s economy and market were among other requirements for the full membership
in the federation, DSE MD said.
Besides, the International Organisation of Securities Commission’s ‘A’ category membership of the country’s capital market regulator was also another requirement for becoming WFE’s full member, he said.
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