Dhaka Stock Exchange Extends Technology Partnership with Nasdaq

Rhea-AI Summary

Nasdaq (NDAQ) and Dhaka Stock Exchange (DSE) have extended their partnership, enhancing DSE's trading technology with an upgrade to Nasdaq's X-stream INET platform. This initiative aims to support increasing trading activity while preserving market integrity. DSE's evolution includes the launch of an Alternative Trading Board and a thriving SME market, processing around 400,000 trades daily across 650+ listed securities valued at $73 billion. The upgrade is seen as crucial for DSE's goal to become a leading regional exchange and enhance investment opportunities.

Positive

• Enhanced trading technology with Nasdaq's X-stream INET upgrade.
• DSE's market cap of approximately $73 billion reflects strong growth potential.
• Launch of Alternative Trading Board and SME market indicates proactive market development.

Negative

• None.

NEW YORK and DHAKA, Bangladesh, Jan. 02, 2023 (GLOBE NEWSWIRE) -- Dhaka Stock Exchange (DSE) and Nasdaq (Nasdaq: NDAQ) today announced the extension of their partnership where Nasdaq provides DSE with trading technology. The agreement includes an upgrade of Nasdaq´s X-stream INET technology in order to accommodate the increasing trading activity of the exchange with maintained market resiliency and investor integrity.

During 2022, DSE successfully launched a new Alternative Trading Board - ATB - and an SME market. DSE today have 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. To facilitate the next stage of its expansion, the upgrade of its trading system will be an integral part.

“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,” said M. Shaifur Rahman Mazumdar, Acting MD of DSE. “By further investing in Nasdaq´s world-class technology we are confident that we will be 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.”

“Nasdaq is proud to have been trusted with deepening our already strong technology partnership with DSE,” said Virginie Barbot, Managing Director for Marketplace Technology, Southeast Asia and Pacific at Nasdaq. “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.”

Nasdaq’s end-to-end market technology powers more than 2,300 companies in 50 countries, spanning the world’s financial industry, including capital markets infrastructure operators, market participants, banks, and regulators.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software, and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

About Dhaka Stock Exchange

Dhaka Stock Exchange Limited (DSE) is the main and largest stock exchange of Bangladesh. The Dhaka Stock Exchange has over 650 listed securities with a combined market capitalization of around US $ 73 billion. Dhaka Stock Exchange started operation in 1956 and the major functions of DSE are 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, Monitoring the activities of listed companies etc. To learn more visit www.dse.com.bd.

Nasdaq Media Contact

David Augustsson
david.augustsson@nasdaq.com
+46734496135

#NDAQG

FAQ

What is the recent partnership between Nasdaq and Dhaka Stock Exchange?

Nasdaq and Dhaka Stock Exchange announced an extension of their partnership to upgrade trading technology, specifically to Nasdaq's X-stream INET platform.

How many trades does the Dhaka Stock Exchange process daily?

The Dhaka Stock Exchange processes around 400,000 equity trades per day.

What is the market capitalization of the Dhaka Stock Exchange?

The Dhaka Stock Exchange has a combined market capitalization of approximately $73 billion.

What are the benefits of the partnership for Dhaka Stock Exchange?

The partnership aims to enhance trading technology, ensuring increased trading activity, market resiliency, and investor integrity.

When was the partnership between Nasdaq and Dhaka Stock Exchange established?

The commercial relationship between Nasdaq and Dhaka Stock Exchange was established in 2014.