A technical malfunction in the trading software caused a delay in the start of transactions at the Dhaka Stock Exchange (DSE) on the first day of the week.
The issue, stemming from the order management system of FlexTrade, software provided by a Singapore-based company, prevented the market from opening as scheduled on Sunday.
As the problem persisted past 10 am, DSE authorities announced the suspension of trading.
Shafiqur Rahman, DSE spokesperson, told bdnews24.com: “Our IT team is working on resolving the technical glitch.”
According to a DSE official, the issue originated in the FlexTrade order management system.
DSE trading typically begins at 10 am.
Despite being fully prepared, Saiful Islam, director of BRAC EPL Stock Broking Limited, was unable to access the server.
He shared with bdnews24.com: “We received the notification well after 10 am. Our IT team had already begun contacting DSE before that. We were informed that ‘trading was suspended due to an unavoidable technical glitch. Trading will resume once the issue is resolved.’”
RECURRENT SERVER PROBLEMS
The most recent significant glitch occurred on March 10, 2014, when trading started but the index did not change.
While 63 broking houses attempted to trade, transactions could not be settled.
The issue was eventually fixed, and DSE carried out trade settlements.
After market hours, broking houses typically receive settlement data from the FlexTrade Order Management System (OMS).
This data is used for clearing and settlement by the Central Depository Bangladesh Limited (CDBL).
Once completed, brokers can update FlexTrade with the investor’s share and cash data, allowing for the next day’s trading.
However, on Sunday, there was a delay in receiving the settlement data, even though trading had occurred.
REPEATED TECHNICAL PROBLEMS
DSE has faced frequent trading disruptions and technical issues in the past.
On July 4, 2023, consecutive days saw server problems that affected trading at DSE.
After resolving the issue, DSE explained that the problem stemmed from the addition of new service modules to the OMS trading software.
In late October 2022, DSE encountered two technical issues within the same week.
Both DSE and the Securities and Exchange Commission (SEC) have set up multiple investigation committees to address these recurring server glitches.
