On October 23, 2024, the Dhaka Stock Exchange (DSE) held a certification ceremony in which Doha Securities received FIX certification for its Order Management System (OMS) platform,PQCAL.This certification, awarded by DSE Chairman Mr. Mominul Islam, certifies the system’s compliance to the Financial Information Exchange (FIX) standard, which facilitates seamless communication and trading between brokers, traders, and stock exchanges.
Mr. Syed Mahmud Zubair, Deputy General Manager of DSE’s Product and Market Development Department, moderated the ceremony. Along with Mr. Islam, other notable attendees included the DSE’s Acting Managing Director, Mr. AGM Sattique Ahmed Shah, General Manager and Acting COO, Mr. Samiul Islam, Chief Regulatory Officer, Mr. Khairul Bashar, DGM of System and Market Administration, Mr. Hasanul Karim, and Acting CTO of the ICT Division, Mr. Md. Tariqul Islam. These notable individuals emphasized the significance of this milestone for both Doha Securities and the overall development of Bangladesh’s financial sector.
Significance of FIX Certification with PQCAL for Doha Securities
The recent FIX certification for PQCAL marks a significant achievement for Doha Securities, establishing the platform as a leader in modern trading technology within Bangladesh. PQCAL is developed and maintained by a Bangladeshi company that has an added advantage as the development team are based locally which means that any technical support or updates can be swiftly implemented in response to regulatory or market changes, providing agility and continuity that enhances PQCAL’s reliability and performance. Additionally the vendor for this is also a sister concern of Doha Securities.
By adhering to the globally recognized FIX protocol, PQCAL is compatible with international trading systems, supporting seamless cross-border transactions. This certification not only bolsters Doha Securities’ credibility in Bangladesh but also expands its reach by facilitating engagement with foreign investors. The local expertise combined with global standards positions PQCAL as a robust tool for attracting international collaboration and investment, enabling Doha Securities to meet the needs of both domestic and global markets with precision and responsiveness.
What is PQCAL?
PQCAL is an advanced Order Management System (OMS) created by Dohatec, designed to streamline and optimize the processing of trade orders involving stocks, bonds, and commodities. This platform automates crucial functions, from order management to trade execution, while also providing real-time monitoring and comprehensive analytics. Such features make PQCAL an invaluable tool for brokers, institutional investors, and traders seeking to elevate their trading capabilities with speed and precision.
One of PQCAL’s standout qualities is its adaptability and scalability, which is made possible by its innovative microservices architecture. This design allows PQCAL to manage high trading volumes and respond to increasing market demands with ease. The platform’s event-driven structure ensures rapid, reliable trade execution—a critical advantage in today’s fast-paced and often volatile financial markets. While many brokerage houses have an OMS platform, most systems struggle to maintain performance under high trading volumes, often resulting in server slowdowns or crashes. Our OMS platform stands apart by effectively managing large trade volumes without compromising speed or stability, ensuring seamless and reliable performance even during peak market activity. Additionally, PQCAL’s integration with the Dhaka Stock Exchange (DSE) offers users a comprehensive range of trading options, enhancing the system’s versatility and reach within Bangladesh’s capital markets.
The success of PQCAL is a testament to the skill and dedication of Dohatec’s development team. Comprising brilliant, hard-working, and passionate engineers and managers, the team brought together the latest technologies and industry insights to create a cutting-edge solution tailored to the needs of both local and international markets. This commitment ensures that PQCAL remains a robust and responsive platform, capable of continuous adaptation and growth to meet the evolving requirements of modern finance.
Technological Advancements in Record Time
PQCAL’s quick growth is another feature of this success story. The Dohatec team created this highly scalable platform in just six months, utilizing cutting-edge technologies. PQCAL incorporates a microservices design, allowing different system components to operate independently while maintaining flexibility and scalability. The event-driven design increases its responsiveness, making it perfect for dealing with the high-frequency needs of stock trading.
This quick development period is impressive, demonstrating Dohatec’s agility and commitment to excellence. In a market where speed, accuracy, and innovation are critical, PQCAL intends to redefine the standard for OMS platforms in Bangladesh. Its flexibility to scale easily means that it can satisfy the needs of both big and small financial institutions as they expand, and its real-time monitoring and analytics provide traders an advantage in making rapid, data-driven decisions.
Dohatec Pioneers Trading Tech for Bangladesh’s Future
Receiving the FIX accreditation is not just a victory for Dohatec, but also a step forward for Bangladesh’s capital market. With PQCAL now FIX-certified, Dohatec is at the forefront of OMS technology, helping to change the country’s financial environment. As Bangladesh progresses toward establishing an entirely digital financial system, Dohatec’s innovation in developing a robust, scalable, and internationally compatible trading platform positions it to benefit on the country’s expanding market prospects.
Furthermore, the presence of high-ranking DSE officials at the certification event, including Mr. Sattique Ahmed Shah, Mr. Khairul Bashar, and Mr. Hasanul Karim, emphasizes the significance of this milestone for the entire stock exchange community. Their support emphasizes the significance that technical breakthroughs like PQCAL will play in molding the future of trading in Bangladesh, ensuring that the market remains competitive both locally and globally.
Conclusion
To summarize, the FIX certification of Doha Securities’ PQCAL platform represents more than just a technical accomplishment; it is a strategic move that cements their leadership in OMS technology in Bangladesh. By integrating its processes with international standards, They are laying the groundwork for improved market performance both locally and abroad. Dohatec, with its strong technology base, is well-positioned to spearhead the next stage of Bangladesh’s