Brac EPL Stock Brokerage sign agreement to share CSE API

Brac EPL Stock Brokerage has signed a contract with the Chittagong Stock Exchange (CSE) to get its application program interface (API).

The API sharing would help the top tier brokerage firm further improve its services, said a statement.

Hasnain Bari, CSE deputy general manager and head of IT services, and Ahsanur Rahman, chief executive officer of Brac EPL Stock Brokerage, signed the agreement on behalf of their respective organisations on Monday.

CSE Managing Director (acting) Golam Farooq said that this move was timely for dual-track holders and will be effective in increasing transaction opportunities.

"The process of bringing everyone under this initiative will continue."

Brac EPL CEO Ahsanur Rahman said that the transaction process at CSE has become easier with this agreement.

Deputy Manager of CSE, Rahi Iftekhar Reza, Brac EPL's Head of Premium and ICC Kumaresh Saha, Head of Finance and Accounts and Head of Administration Pratya Kundu, Head of IT Moinul Islam, and other senior officials of both the organisations were present at the agreement signing event.

The bourses are sharing their API with the brokers to allow them to integrate the bourses' core trading systems with their own order management system (OMS) that reduces loads on the bourses default OMS and also creates opportunity for brokers to offer customized OMS to their clients.

Unlike the Dhaka Stock Exchange (DSE) which decided API sharing earlier this year, the CSE opened its API for its brokers in 2015 and LankaBangla Securities as the top stockbroker adopted it then.

A number of brokerage firms are opting for shared API, said the CSE.