Stock brokers to help improve liquidity support for the market

Meeting with BSEC officials

Stock brokers have agreed to work on increasing liquidity support for the stock market to ensure its stability and development.

They gave the assurance during a meeting with Bangladesh Securities and Exchange Commission (BSEC) officials held at its offices in the city on Monday.

Representatives of the DSE Brokers Association of Bangladesh (DBA) told the meeting that they would play an active role in stimulating institutional investment in the market.

To improve liquidity support as part of their efforts, stockbrokers will contact investors with inactive BO (beneficial owner) accounts and sue them to get back into the market, a BSEC official said.

Stock brokers will also strive to increase their own investments according to their capacity, he said.

In addition, stock brokers will hold outreach programs in different districts to attract investors, he added.

Contacted, the managing director of a major brokerage firm said that the overall market situation was discussed at the meeting.

“The BSEC also wanted to know the sentiment of our customers. Stock brokers said at the meeting that they would remain active to maintain momentum in the market,” he said.

BSEC Commissioner Dr Shaikh Shamsuddin Ahmed chaired the meeting which was attended by BSEC Executive Director Mohammad Rezaul Karim, DBA Chairman Richard D’Rozario and other members of the association.

The meeting was held as part of BSEC’s drive to improve market liquidity support.

Previously, the securities regulator also held meetings with asset management companies, investment bankers and high net worth individuals.

They assured the securities regulator to take steps to strengthen liquidity support.

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Dolores W. Simon