The securities regulator has approved 23 proposals of new TRECs (Trading Right Entitlement Certificate) to be issued by Chittagong Stock Exchange (CSE).
To this effect, the Bangladesh Securities and Exchange Commission (BSEC) on Thursday sent a letter to the managing director of the port-city bourse CSE.
"…applications of new TRECs of CSE are approved subject to fulfillment of necessary procedure and in compliance with the provisions of relevant rules and regulations," said the BSEC letter.
As per the regulatory approval, the CSE will issue TRECs in favour of Bank Asia Securities, MTB Securities, Padma Bank Securities, NRBC Bank Securities, NLI Securities, Beximco Securities, Shah Mohammad Mohammad Sagir & Company, Hazrat Amanat Shah Securities, Dayton Holdings and Merchant Securities.
The other firms whose proposals of getting TRECs have been approved are SBAC Bank Investment, SFIL Securities, Bridge Stock & Brokerage, Columbia Shares & Securities, Biplob Holdings, Rahman Equity Management, Benemoy Securities, Monrach Holdings, Dynasty Securities, ANC Securities, B & Bss Trade International, Matrix Securities and DP7 Lyd.
In its letter, the securities regulator also said the remaining applications of new TRECs are in process of further scrutiny of the commission.
The number of existing TRECs is 148 at the CSE and the number will stand at 171 after issuance of 23 new TRECs.
Recently, Dhaka Stock Exchange (DSE) issued 52 new TRECs as the regulator approved their proposals to commence trading operations in the country's stock market.
Presently, the number of TRECs is 302 at DSE including 250 old ones.