Technical glitch at CDBL server: SEC forms 4-member probe body
Dhaka, July 31 (UNB) - The Securities and Exchange Commission (SEC) on Tuesday formed a four-member body to probe the technical glitch in the Central Depository Bangladesh Limited (CDBL) server that suspended share trading at Dhaka and Chittagong stock exchanges, officials said.
SEC executive director M Ashraful Islam heads the inquiry committee which has been asked to submit its report within five working days.
Three other members of the committee are SEC director Rajib Ahmed and IT chief or IT expert of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
The decision to form the inquiry committee was taken at the 441st meeting of the SEC held at its conference room with commission chairman Prof Dr M Khairul Hossain in the chair.
The committee will determine the nature of the problem, reasons behind the technical glitch and negligence, if any, of officials concerned.
Meanwhile, resumption of trading at the country’s twin bourses –- DSE and CSE -- is still uncertain as the authorities at the Central Depository Bangladesh Limited (CDBL) are yet to fix the technical problem that halted Tuesday’s trading.
“The technical problem is yet to be resolved. We cannot say yes or no regarding resumption of trading tomorrow,” Shafiqur Rahman, deputy general manager (public relations) of DSE, told UNB over phone this (Tuesday) evening. “It fully depends on the CDBL,” he said.
Earlier, trading at the two bourses was suspended for Tuesday due to technical problem in the CDBL server. The decision came following an urgent board meeting Tuesday morning, officials said.
Due to the software failure at CDBL, the DSE and CSE authorities decided to keep the transaction suspended at both the bourses until Monday’s sale transactions are uploaded to CDBL system, they said.
The Securities and Exchange Commission has been informed about the temporary suspension of trading.
The CDBL, which operates the Central Depository System for the share transactions, has been trying to resolve the problem at the earliest.
After each day's stock trade, the transactions are settled with CDBL.
SEC executive director M Ashraful Islam heads the inquiry committee which has been asked to submit its report within five working days.
Three other members of the committee are SEC director Rajib Ahmed and IT chief or IT expert of Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE).
The decision to form the inquiry committee was taken at the 441st meeting of the SEC held at its conference room with commission chairman Prof Dr M Khairul Hossain in the chair.
The committee will determine the nature of the problem, reasons behind the technical glitch and negligence, if any, of officials concerned.
Meanwhile, resumption of trading at the country’s twin bourses –- DSE and CSE -- is still uncertain as the authorities at the Central Depository Bangladesh Limited (CDBL) are yet to fix the technical problem that halted Tuesday’s trading.
“The technical problem is yet to be resolved. We cannot say yes or no regarding resumption of trading tomorrow,” Shafiqur Rahman, deputy general manager (public relations) of DSE, told UNB over phone this (Tuesday) evening. “It fully depends on the CDBL,” he said.
Earlier, trading at the two bourses was suspended for Tuesday due to technical problem in the CDBL server. The decision came following an urgent board meeting Tuesday morning, officials said.
Due to the software failure at CDBL, the DSE and CSE authorities decided to keep the transaction suspended at both the bourses until Monday’s sale transactions are uploaded to CDBL system, they said.
The Securities and Exchange Commission has been informed about the temporary suspension of trading.
The CDBL, which operates the Central Depository System for the share transactions, has been trying to resolve the problem at the earliest.
After each day's stock trade, the transactions are settled with CDBL.
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