Share trading thru mobile app rising, but slowly

Mostafizur Rahman | Published: 00:05, Jan 27,2018

 
 

Share trading through the DSE-Mobile, a mobile-based securities transaction application introduced by the Dhaka Stock Exchange, is increasing gradually as 10.97 per cent of the total trades at the bourse were executed through the app in December against 4.48 per cent in January last year. 
Market experts, however, said the number of users of the app was insignificant compared with the number of beneficiary owners’ accounts amid lack of campaign to popularise the app.
In January last year, 7,046 out of the total 1,57,258 trades at the DSE were executed via the mobile app, meaning that trading through the app was 4.48 per cent of the month’s overall transactions while at the end of December the percentage rose to 10.97 per cent, according to DSE data.
As of January 24 this year, the number of active users of the DSE mobile app stood at 25,385 while it was 8,098 at the end of 2016.
DSE officials said the increase in the number of users indicated that the mobile app was gaining popularity gradually as more and more people in the country were getting access to hi-tech mobile phones and laptops.
According to Central Depository Bangladesh Limited statistics, the number of active BO accounts stood at more than 27.44 lakh as of January 25, 2018.
According to the DSE annual statement, the premier bourse is continuously working for its infrastructure development to ease share trading process.
In 2017, investors placed more than 35 lakh orders through the DSE mobile app while 22 lakh orders were executed.
Although the DSE is yet to get desired number of users, the number of trades executed through the application was satisfactory considering the number of users of the app, DSE officials said.
The premier bourse on March 9, 2016 launched the mobile-based share trading app in presence of finance minister AMA Muhith and Bangladesh Securities and Exchange Commission chairman M Khairul Hossain.
Investors having BO accounts can get registration with the DSE mobile app through their respective brokerage firms.
As the existing transaction system does not provide instant account-related information without making any call to a trader, the mobile app gives that comfort to investors, officials said.
The application allows users to place orders directly on the bourse’s server but traders and brokers are allowed to interrupt if any unusual order is placed.
DSE director Shakil Rizvi said, ‘The application will be popular more with time as anyone can trade share from anywhere without physically being present at a brokerage house and without the involvement of authorised traders.’
Another positive side of the application is that authorised traders cannot sell shares without investors’ prior permission as investors can operate their portfolios directly and they will get notifications immediately after a trade is executed, he said.
On the fees, a DSE official said that the bourse was yet to decide how long the application would be free of cost.
Android phone 4.4-version with four inches display and 320 pixel resolutions are the minimum requirements for using the DSE Mobile.
The application has two versions — one is called DSE-Mobile VIP, a non-trading version, and the second one called DSE-Mobile Trader, a trading version.
DSE-Investor is a web-based desktop application that offers all the features of DSE-Mobile Trader, which can be accessed using any browser including chrome, firefox, safari and IE.
This connects investors to the state of the art technology of trading, said the DSE official. 

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