A five-member committee was formed on Thursday after a tripartite meeting between the Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and Central Depository Bangladesh Limited (CDBL).
The meeting was held on the DSE premises.
The committee includes two board members from the DSE, one from the CSE, one from the CDBL and one representative from the banks.
Professor Dr. Abul Hashem, chairman of the country's premier bourse, will act as the chief of the committee titled 'Central Counter Party (CCP) formation committee' while DSE managing director KAM Majedur Rahman will work as the secretary general.
In line with the Bangladesh Securities and Exchange Commission (Central Counterpart) Rules, 2017, the committee will take steps to form 'Clearing and Settlement Company' as soon as possible.
DSE managing director gave explanation about the formation of the Clearing and Settlement Company, share holding structure, initial paid-up capital, board of directors and registration process of the new entity.
Under the Central Counterparty rules, a clearing and settlement company would be formed for smooth settlement of transactions which would take place in the bourses.
