The Dhaka Stock Exchange has requested the Bangladesh Securities and Exchange Commission to amend the trading-related regulations for extending the share trading hours at the bourse by 30 minutes.
The country’s premier bourse made the request after its board at a recent meeting adopted a proposal in this regard.
Earlier, in May 2017, the DSE and the Chittagong Stock Exchange requested the commission to extend trading hours at the bourses, but the regulator refused the proposal as the existing regulations do not allow such extension.
So, the bourses later proposed that the regulator should amend the regulations.
Presently, the trading hours at the DSE and the CSE are from 10:30am to 2:30pm.
DSE managing director KAM Mazedur Rahman said the bourse sought trading time extension as the extension would facilitate investors.
He also said the stock exchanges in the neighbouring countries keep their bourses open for longer period than Bangladesh allows.
‘The bourse has appealed for time extension as the bourse requires to open the market for longer period of time as the number of companies and investors at the market has increased,’ said Md Shakil Rizvi, a DSE director.
Once the decision is implemented, the trading hours at the bourses will be four and a half hours instead of the current four hours.
The 30-minutes additional time will include 15 minutes as pre-opening session and 15 minutes as post-closure session.
Investors would only be allowed to bid for share purchase and sales during the pre-opening session. The bids, however, would not be executed during the session.
During the post-closure session of 15 minutes, orders or bids which would be placed only at close-price would be settled and the orders which would remain unsettled during the trading session could be settled adjusting prices.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Stocks