NEW YORK and DHAKA, Bangladesh, Jan. 02, 2023 (GLOBE NEWSWIRE) -- Dhaka Stock Exchange (DSE) and Nasdaq (Nasdaq: NDAQ) today announced the extension of their partnership where Nasdaq provides DSE with trading technology. The agreement includes an upgrade of Nasdaq's X-stream INET technology in order to accommodate the increasing trading activity of the exchange with maintained market resiliency and investor integrity.
During 2022, DSE successfully launched a new Alternative Trading Board - ATB - and an SME market. DSE today have over 300 brokering intermediaries and processes around 400,000 equity trades per day in its 650+ listed securities with a combined market cap of around 73 billion USD. To facilitate the next stage of its expansion, the upgrade of its trading system will be an integral part.
"Since our commercial relationship with Nasdaq was established in 2014, DSE has continued to evolve in line with our ambition to become the leading exchange in the region and a key driver of growth for the broader economy," said M. Shaifur Rahman Mazumdar, Acting MD of DSE. "By further investing in Nasdaq's world-class technology we are confident that we will be stand even better equipped to further empower investors looking to implement sophisticated trading strategies and entrepreneurs looking to raise capital in order to grow their companies and create jobs."
"Nasdaq is proud to have been trusted with deepening our already strong technology partnership with DSE," said Virginie Barbot, Managing Director for Marketplace Technology, Southeast Asia and Pacific at Nasdaq. "By leveraging Nasdaq's robust and flexible technology solutions, DSE will be able to continue growing its financial footprint in South Asia while ensuring investor protection, access to capital for companies in the region as well as exciting opportunities for both local and global investors. We look forward to taking this next step in our joint journey in building a world-class financial market that will continue to benefit the region, the Bangladeshi economy and global financial markets."
Nasdaq's end-to-end market technology powers more than 2,300 companies in 50 countries, spanning the world's financial industry, including capital markets infrastructure operators, market participants, banks, and regulators.
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