The Dhaka Stock Exchange (DSE) will not charge monthly Tk 150 per user for trading using DSE Mobile app.
The DSE board of directors changed its decision after widespread criticism from all quarters including stockbrokers, trading rights entitlement certificate (TREC) holders and investors.
The DSE board on December 19 at a meeting decided to charge Tk 150 per month on the use of its investment app from January 01, 2019, but it was made public on Sunday morning through web posting.
The prime bourse also requested to the TREC holders to take necessary approval of monthly fee from their clients to provide DSE-Mobile app service through the web posting.
"We have scrapped the decision taking the current market situation into consideration," said DSE director Rakibur Rahman.
The market has been largely bearish in recent months. The DSEX -- the prime index of DSE -- eroded more than 944 points or 15 per cent between January 01 and December 24 this year.
Mr Rahman said they had decided to impose the fee to minimise the DSE's costs as the bourse has to bear the costs of app-based trading by investors.
Another DSE director, however, said although they postponed the decision right now, they will impose charge on DSE Mobile app in near future.
Stockbrokers and investors said that the bourse should conduct market research before taking any decision over imposing fee for app-based share trading, otherwise such decision would put negative impact in the market.
The prime bourse on March 9, 2016 launched the mobile-based share trading app and the usage of the app has been free since the introduction.
The app is available on Google Play Store and offers features to help users track the indices and get market and company information.
The application was developed by FlexTrade Systems, a global leader in broker-neutral trading platforms.
Investors, first need to register with the concerned broker, then install the app from the Google Play Store.
The app's features include market and trading statistics in real time, company information, portfolio information and company news.
