No. SEC/CMRRCD/2001-23/319 Dated: 9th June 2004
Whereas, the Securities and Exchange Commission deems it to be expedient that the following further amendments should be made in the ‘Dhaka Stock Exchange Automated Trading Regulations, 1999’ in the interest of the investors in securities and the capital market as well;
Now, therefore, the Securities and Exchange Commission, in exercise of its power conferred under section 34, sub-section (4) of the Securities and Exchange Ordinance, 1969 (XVII of 1969), directs the Dhaka Stock Exchange Ltd. to further amend its ‘Dhaka Stock Exchange Automated Trading Regulations, 1999’ in the following manner, namely:-
“ I. In regulation 17, a colon (:) shall be substituted for the full stop (.) after the paragraph under ‘Crossing report’, and thereafter the following proviso shall be added, namely:-
Provided, however, that;-
(a) both the buying and the selling customers shall be institutional customers;
(b) these trades shall be executed through the system as a part of normal trading activities;
(c) the member concerned shall furnish to DSE (i) an irrevocable letter of intimation within half an-hour before commencing trades in the exchange, and (ii) an execution report in writing within the trading day, mentioning details of the customers’ names with respective codes, name with quantity of the scrip, and the executed price.
Explanation: ‘Institutional customers’ means bank, financial institution, leasing company, insurance company, merchant banker or its portfolio fund, collective investment scheme, mutual fund, any other recognized fund or entity as may be recognized by the Commission as ‘institutional’ for the above purpose.
II. Relevant provision(s) of the ‘Guideline in respect of Report Crossing’ shall also be amended accordingly.”.
2. This order shall have immediate effect.
By order of the
Securities and Exchange Commission
Chief Executive Officer, DSE