DHAKA STOCK EXCHANGE
CLEARING & SETTLEMENT
TRADING
Days
Hours: Continuous
Post closing
Market segmentation
System
Mechanisms
Market makers/specialists
Instruments
Currency
Real time information
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
FOREIGN PARTICIPATION
Not-for-profit company
Self
Exchange w/ regulatory institutions and jointly
Exchange
Yes, electronic
Equity
Yes
Yes
Foreign investors
Allowed, no restrictions
Investment limitations No limitations
Repatriation
No restrictions
2003-MARKET CAPITALIZATION BY SECTOR
TAXES
Cash dividends
Interest income
Capital gains
Central depository No
Period
T+5 for A category shares,
T+7 for Z category shares
Registered
Yes
Settlement
Physically
Clearing
Netting
DVP
No DVP
Clearing institution Yes
Risk sharing
No
Margin/lending
No
Custodians
n/a
10% for individuals above TK 100,000
10%
Negligible
6% Textile
11% Miscellaneous
11% Food & allied
19%
Engineering
38% Finance
2004 HOLIDAY CALENDAR
15% Pharmaceuticals
Feb. 1, 2, 3, 21; Mar. 2, 26; Apr. 14; May 1, 3; Jul. 1; Sep. 6; Oct. 1, 23; Nov. 7, 11, 14, 15, 16
Dec. 16, 25, 31
MINIMUM LISTING REQUIREMENTS
Requirements
Minimum paid-in capital
Years of business activity
Capitalization of issue
Free float
Free float ratio
Minimum # of shareholders
Minimum years of positive financial results
# prior years audited financial accounts
# times dividends distributed in last 3 years
Whole class of securities to be issued
Listing agreement with Central Depository
Prospectus
Special requirements
Additional special requirements
FEDERATION OF EURO-ASIAN STOCK EXCHANGES YEARBOOK 2003/2004
PAGE 44
First Market
TK 20,000,000
n/a
TK 20,000,000
n/a
n/a
400
n/a
n/a
n/a
n/a
Yes
Yes
Criteria regarding categorization of newly listed companies: In case of newly
listed securities, the rate of earning per share (EPS) based on the audited
account of a full year, shall be treated as substitute of the rate of dividend
applicable for "A" and "B" categories of companies in the last calendar year.
n/a