DSE chief technology officer sent on forced leave

Dhaka Stock Exchange (DSE) Chief Technology Officer (CTO) Md Ziaul Karim has been sent on forced leave over the recurrence of technical glitches with the trading server.

The securities regulator, Bangladesh Securities and Exchange Commission (BSEC), on Monday took the decision at its meeting with BSEC Chairman Prof Shibli Rubayat-Ul-Islam in the chair, a press release said.

Earlier on October 24, share trading at the Dhaka bourse remained halted for about three hours due to a technical glitch with the trading server.

A server error occurred just one-and-a-half hours after the trading started, disrupting the trading from 10:58 am to 2:09pm.

The DSE was back to trading at 2:10 pm and the trading session formally ended at 2:30pm.

The securities regulator formed a five-member probe committee the same day to look into the issue and the trading operations of the Dhaka bourse and its IT efficiency, said a media statement issued by the BSEC.

The probe body, led by BSEC Director Mohammad Abul Hasan, was asked to submit a report in the next 30 working days.

On Monday, the BSEC said share trading of DSE has recently been interrupted at different times. Besides, different committees also expressed dissatisfaction with the IT-related activities of the Dhaka bourse, according to the press release.

Under the circumstances, the BSEC has formed a probe body to develop the capital market and protect the interests of investors, it said.

CTO Ziaul Karim will be on leave compulsorily till the investigation-related issues are dealt with completely, the BSEC added.