Dhaka Stock Exchange, Nasdaq Extend Partnership on Trading Technology

Fazzaco learned that Dhaka Stock Exchange (DSE) and Nasdaq (Nasdaq: NDAQ) has extended their partnership on trading technology. 

According to the new agreement, Nasdaq will upgrade its X-stream INET technology to accommodate the increasing trading activity of the exchange while maintaining its market resiliency and investor integrity.

The upgrade of trading system is significant for DSE as the exchange, with a combined market cap of around 73 billion USD, has over 300 brokering intermediaries and processes around 400,000 equity trades per day in its 650+ listed securities.

"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 serves more than 2,300 companies in 50 countries. The global technology company witnessed 6% YoY increase​ in net revenues in Q3 2022, as Fazzaco has reported previously.