Chattogram bourse extends trading hours by 45 minutes from 26 Jan
The DSE has strongly opposed the CSE’s decision, citing concerns about market manipulation due to the differing trading schedules
The Chittagong Stock Exchange (CSE) has announced an extension of its trading hours by 45 minutes, effective from 26 January.
Under the new schedule, trading on the CSE will start at 9:30 am and run until 2:45 pm, extending the current hours of 10:00am to 2:30pm.
Alternatively, the Dhaka Stock Exchange (DSE), the country's premier bourse, will maintain its existing schedule of 10:00am to 2:30pm.
Keep updated, follow The Business Standard's Google news channel
Shaifur Rahman Mazumdar, managing director of the CSE, told The Business Standard that the decision was made to provide differentiated services and encourage greater investor participation in the CSE.
"We have decided to extend the trading schedule and have already informed our brokerage firms," said Mazumdar.
He further said, "The decision was taken with consultation and consent from the Bangladesh Securities and Exchange Commission (BSEC). However, we did not consult with the DSE before finalising the change."
The move by the CSE is part of its broader strategy to enhance trading volume and competitiveness. However, it remains to be seen how this time extension will affect investor behaviour, trading patterns, and the relationship between the two stock exchanges, he added.
The DSE has strongly opposed the CSE's decision, citing concerns about market manipulation due to the differing trading schedules.
"We are surprised by the CSE's unilateral decision, which was made without consulting us," said a DSE director.
"CSE could have extended trading hours beyond 2:30 pm instead of starting 30 minutes earlier than the DSE. This overlap could create opportunities for market manipulators, as the same shares are traded on both exchanges," he added.
Saiful Islam, president of the DSE Brokers Association, also voiced concerns, urging the securities regulator to carefully evaluate the risks of manipulation before approving such time extensions.
"We have requested that this initiative be halted," he added.
Rezaul Karim, spokesperson and executive director of the BSEC, clarified the regulatory stance on the matter.
He said, "Stock exchanges are allowed to increase their trading hours in accordance with their regulations. They do not require prior approval from the commission to make such changes."
