DSE hands over TREC to 52 companies

The Dhaka Stock Exchange (DSE) has authorised some 52 companies for executing trading of listed securities and provided them with trading right entitlement certificates (TREC).

At a flamboyant function held at the DSE on Saturday, the representatives of the companies received the certificates from Prof Shibli Rubayat-Ul-Islam, chairman of Bangladesh Securities and Exchange Commission.

Thanks to the certification, the 52 companies have now been officially enlisted as stock brokerage companies.

Earlier, the stock market regulator approved a total of 55 new companies for the brokerage license of the Dhaka bourse.

The DSE, for the second time in its history, has approved brokerage license for a non-member firm.

The new TREC holders are - Kabir Securities, Monarch Holdings, Sohel Securities, RAK Capital, Jamuna Bank Securities, Snigdha Equities, International Securities Company, South Asia Securities, Tristar Securities, 3i Securities, Sonali Securities, KDS Shares and Securities, Al Haramain Securities, Mir Securities, TK Shares and Securities, NRB Bank Securities, SBAC Bank Investment, Amaya Securities, Prudential Capital, Takaful Islam’ Securities, BNB Securities, Agrani Insurance Securities, Mahid Securities, Baraka Securities, ANC Securities, SFIL Securities, Tasia Securities, Dynasty Securities, Celestial Securities, Trade X Securities, Amar Securities, Bang Ji Geo Textile, Meenhar Securities, Biplob Holdings, Associated Capital Securities, Be Rich, Columbia Share, Rahman Equity, MKM Securities, Smart Share, Benemoy Securities, Relief Exchange, Emperor Securities, NY Trading, B & BSS Trading, Assurance Securities and Management Limited, CAL Securities Limited, SBI Securities Limited, Wings Fin Limited, Fareast Shares and Securities Limited, Trust Regional Equity Limited and Innova Securities Limited.

The DSE will later provide TREC lincenses to another three companies - Bridge Stock & Brokerage, Matrix Securities, and DP 7 Limited.

However, the approval will be cancelled if the newly certified entities do not operate accordingly.   

A stock exchange issues TREC, normally known as brokerage license, to the companies for execution of trading of listed securities as a broker or dealer.

Currently, there are 250 TREC holders in operation at the Dhaka bourse.

 “Some 52 new TREC holders have been added to our family. It will make our stock market much stronger,” said the BSEC Chairman while addressing the handover program.

He urged the new TREC receivers to respect the investors and remain cautious about protecting their savings.

Shibli Rubayat noted that there is misperception among many that the capital market is not a productive sector.

But the reality is in contrary as the capital market is no longer an unproductive sector and is now playing significant role in business expansion of the listed companies, he said.

He also mentioned that there are different sorts of markets, such as primary market, bond market, and derivatives market. These are helping the companies raise funds and gear up their businesses.

“We are now much more business-friendly. But there are some people and investors who are not willing to follow the rules and guidelines. They try to do whatever they want,” added the BSEC chairman.

Addressing the function, Md Rakibur Rahman, director of DSE, expressed optimism that the DSE would have a turnover of Tk 5,000 crore by next year.

The programme was presided over by DSE Chairman Md Eunusur Rahman.

Sharif Anwar Hossain, president of DSE Brokers Association (DBA), and directors of DSE, among others, were present at the event.