FEDERATION OF EURO-ASIAN STOCK EXCHANGES > YEARBOOK 2002/2003 > PAGE 35
DHAKA STOCK EXCHANGE
Trading
Days
Hours: Continuous
Post closing
Market segmentation
System
Mechanisms
Market-maker/specialists
Instruments
Currency
Real time information
Clearing & Settlement
Saturday-Thursday
10:30-14:00
14:00-14:30
Public market, spot market,
block market, odd lot market
Automated, reporting facilities, WAN
Continuous auction
No
Stocks, debentures, mutual funds
Local
Best bid/ask, last price, last volume, order
book, listed company announcement
Structure & Regulations
Legal
Regulation
Securities market regulations:
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection
No
T+5 for A category shares,
T+7 for Z category shares
Yes
Physically
Netting
No DVP
Yes
No
No
n/a
Registered
Settlement
Clearing
DVP
Clearing institution
Risk sharing
Margin/lending
Custodians
Foreign Participation
Not-for-profit company
Self
Exchange w/ regulatory institutions and jointly
Exchange
Yes, electronic
Equity
Yes
Yes
Foreign investors
Investment limitations
Repatriation
Allowed, no restrictions
No limitation
No restrictions
5-Year Market Capitalization
Taxes
Cash dividends
Interest income
Capital gains
Central depository
Period
10% for individuals above TK 100,000
10%
Negligible
(US$ millions)
1,400
1,200
1,000
800
600
400
0
200
Minimum Listing Requirements
Requirements
Years of business activity
Capitalization of issue
Free float
Minimum # of shareholders
Minimum years of positive financial results
# times dividends distributed in last 3 years
Listing agreement with central depository
Prospectus required
Special requirements
National Market
n/a
TK 10,000,000
n/a
250
n/a
n/a
n/a
Yes
Criteria regarding categorization of newly listed companies : In the case of newly listed securities, the rate of
earnings per share (EPS) based on the audited accounts of a full year shall be treated as a substitute for the
dividend rate applicable for "A" and "B" category companies in the last calendar year.
Transactions of shares (other than Mutual Funds) of the following category of companies, which shall be described
as G-category of companies, shall be kept outside the adjusted due position mechanism for settlement - G-
category companies (I.e. greenfield companies).
Newly listed shares of those companies which do not fall under any of the categories mentioned under sub-
regulations (1), (2) and (3), shall be placed under G-category companies for which the settlement procedure
for B-category companies shall be applied.