DSE, trading technology provider NASDAQ extend partnership

The Dhaka Stock Exchange (DSE) and its trading technology provider Nasdaq Technology AB have agreed to extend and strengthen their ties further.

Both parties have agreed to extend their existing agreement for another period of three years, which was set to end in December 2024, according to a DSE statement.

Nasdaq Technology AB will provide its support to DSE to facilitate the Go-live of the new Data Center at DSE Tower in Nikunja, Dhaka, through the upgradation of the matching engine of the country's premier exchange to the new set of technological infrastructure, said the DSE.

The agreement includes an upgrade of Nasdaq´s X-stream INET technology in order to accommodate the increasing trading activity of the exchange.

The technology provider Nasdaq will train DSE personnel in these regards. After the successful implementation of upgrading the matching engine at the newly established data centre, both parties will commence a design study for the deployment of the new version of Nasdaq machine engine.

DSE and Nasdaq have signed an agreement during the recent visit of Nasdaq representatives in Dhaka.

On behalf of their respective companies, DSE acting managing director M Shaifur Rahman Mazumdar and Nasdaq Technology AB managing director Virgine Barbot signed the agreement.

Both parties also agreed to collaborate to promote the business of the Dhaka Stock Exchange.

DSE has been on fire in 2022 due to multiple technical glitches that have halted or disrupted trading. Its chief technology officer was sent on forced leave as the regulator ordered an investigation.

DSE strategic partner Shenzhen-Shanghai Stock Exchanges Consortium did offer its free trading technologies to the Dhaka bourse, but it seems barely interested in them.