Script Netting to Be Introduced in Stock Market
Graphics: Agamir Somoy
The Bangladesh Securities and Exchange Commission (BSEC), the country’s stock market regulator, has taken the initiative to introduce script netting, or intraday trading, in the stock market. The new commission, led by BSEC Chairman Masud Khan, has approved the initiative.
The approval was given at the 1,020th commission meeting held on Tuesday under the chairmanship of BSEC Chairman Masud Khan. The matter was later disclosed in a statement issued by the commission’s Executive Director and Spokesperson Md. Abul Kalam.
The statement said, “With a view to making the trading system more dynamic, efficient and modern, the Commission has decided to grant consent to the stock exchanges for the introduction of script netting or intraday trading, subject to ensuring all necessary arrangements.”
Once the BSEC initiative is implemented, investors will be able to buy and sell shares of any company as many times as they wish on the same day.
Meanwhile, at the commission meeting, BSEC approved the proposal to liquidate the Vanguard AML BD Finance Mutual Fund One. The fund’s trustee, Bangladesh General Insurance Company, applied for liquidation after the fund completed its 10-year tenure. The decision was made in response to that application.
The fund’s total unit capital stands at Tk 104.32 crore, and the face value of each unit is Tk 10.
