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Improving the Website and Automation of Dhaka Stock Exchange

Technical Report · May 2019

DOI: 10.13140/RG.2.2.24339.30246

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 Department of Electrical and Computer Engineering
North South University

CSE498R: Internship

Improving the Website and Automation of

Dhaka Stock Exchange

Rabbani Rasha ID # 1310972042

Faculty Advisor:

Dr. Mohammad Monirujjaman Khan

Associate Professor

ECE Department

Spring, 2019
 LETTER OF TRANSMITTAL

May, 2019

To

Dr. K.M.A. Salam

Chairman,

Department of Electrical and Computer Engineering

North South University, Dhaka

Subject: Submission of Internship Report on “Improving the Website and Automation

of DSE”

Dear Sir,

With due respect, I would like to submit my Internship Report on “Improving the Website and

Automation of Dhaka Stock Exchange” as a part of my BSc program. The report depicts the

background of Dhaka Stock Exchange Limited (DSE), the largest and oldest stock market of my

country, and also discusses how DSE’s overall computing (datacenter, PCs), networking and

software systems (for trading and other internal data keeping purposes) work, including its official

website and suggests how these things can be improved. This internship gave me both academic

and practical exposures. Firstly, I learned about all the hardware and software technology utilized

by the Exchange as the market is fully automated, and secondly, it gave me the opportunity to

develop a network with the corporate environment.

It will be much appreciated if you kindly receive this report and provide your valuable judgment

and find this report useful and informative.

Sincerely Yours,

.........................................................
Rabbani Rasha
ECE Department
North South University, Dhaka, Bangladesh

2
 APPROVAL
Rabbani Rasha (ID # 1310972042) from Electrical and Computer Engineering Department of

North South University, has worked as an intern for 12 weeks at Dhaka Stock Exchange Limited

from 23 January to 18 April 2019 and created this Internship report titled “Improving the Website

and Automation of Dhaka Stock Exchange” under the supervision of Dr. Mohammad

Monirujjaman Khan for the fulfillment of requirement of “CSE498R: Internship” course for the

degree of Bachelors of Science in Engineering and has been accepted.

Supervisor’s Signature

…………………………………….

Dr. Mohammad Monirujjaman Khan

Associate Professor

Department of Electrical Engineering & Computer Science

North South University

Dhaka, Bangladesh.

Chairman’s Signature

…………………………………….

Dr. K. M. A. Salam

Professor

Department of Electrical Engineering & Computer Science

North South University

Dhaka, Bangladesh.

3
 DECLARATION

I, Rabbani Rasha, do hereby declare that all the information in this report is my own original

authentic work. No part of this work has been submitted elsewhere partially or fully for the award

of any other degree or diploma. Any material reproduced in this project has been properly

acknowledged.

Author’s name & Signature

Rabbani Rasha

_________________

4
 ACKNOWLEDGEMENT

I would like to express my heartfelt gratitude to the Almighty for giving me the strength to perform

my responsibilities as an intern and complete the report.

My deep gratitude goes first to my faculty advisor Dr. Mohammad Monirujjaman Khan, Associate

Professor, ECE Department, North South University for his excellent and kind supervision. His

guidance helped me in completing the course successfully.

My sincere thanks to North South University, Dhaka, Bangladesh for designing this internship

course as this made me experience the applied field of my major which will be immensely

beneficial for my career.

I am highly obliged to Mr. Md. Asadur Rahman FCS, General Manager and Secretary of Dhaka

Stock Exchange, without whose help my internship opportunity would not have been possible. I

am also very thankful to all the officials who happily spared me some of their precious time for

me during the internship period.

I would also like to thank all my contributors, supporters and well-wishers.

Last but not the least, I would like to thank my family as their inspiration and guidance kept me

focused, confident and motivated, especially my father.

5
 ABSTRACT

I carried out my internship at Dhaka Stock Exchange Limited (DSE). DSE is the premier bourse

of the country serving as equity and bond market since 1954. DSE offers several services like

Automated trading system, Over the Counter Trading, Training Academy, Registration and

Technical support for Brokerage Firms (simply called brokers), handling investors’ queries,

dispatching credits, collect prospectus and financial report from listed companies and provide

market data. It also offers internship opportunities for students who want to know the share market

of the country and DSE’s activities. The purpose of this internship is to complete the requirement

for the degree of Bachelor of Science in Computer Science and Engineering so as to obtain a

practical aspect of the theoretical materials studied at the university and gain experience in applied

field. During my internship period a number of methods were used which included hands-on,

studying given materials, interrogation, pen & paper explanation, note-taking, researching and

developing. I was assigned to different departments of ICT division for 3 months according to

schedule which helped me interact with different people and acquire information related to the

technological aspect of stock trading, usage of different software and computing infrastructure and

software and web development. I used to know little about the concept of modern stock exchange

before but this program illuminated my knowledge about the same to an excellent level. In

conclusion, this opportunity made me achieve further skills and competencies in my career.

6
 TABLE OF CONTENTS

1. OVERVIEW 9

1.1. The Organization 9

1.2. The Role 11

1.3. The People 12

2. ASSIGNMENT AND CONTRIBUTION 14

2.1. Assignment 14

2.1.1. Web Development Dept 14

2.1.2. System and Market Admin Dept 14

2.1.3. Application Support Dept 14

2.1.4. Network Development Dept 15

2.1.5. IT Infrastructure Dept 16

2.1.6. MIS Dept 17

2.1.7. Back Office Development Dept 17

2.2. Contribution 17

2.2.1. Web Development Dept 17

2.2.2. System and Market Admin Dept 56

2.2.3. IT Infrastructure Dept 56

3. TECHNOLOGICAL ASPECT OF THE INTERNSHIP 59

3.1. Web Development Dept 59

3.2. System and Market Admin Dept 60

3.3. Application Support Dept 61

7
 3.4. Network Development Dept 63

3.5. IT Infrastructure Dept 64

3.6. MIS Dept 65

3.7. Back Office Development Dept 66

4. LESSONS LEARNT FROM THE INTERNSHIP 68

4.1 Web Development Dept 68

4.2. System and Market Admin Dept 69

4.3. Application Support Dept 78

4.4 Network Development Dept 83

4.5. IT Infrastructure Dept 84

4.6. MIS Dept 85

4.7. Back Office Development Dept 88

5. CONCLUSION AND FUTURE WORK 89

5.1. Interaction with reporting manager and coworkers 89

5.2. Roadblocks encountered and solved 90

5.3. Effect of internship on my career plan 91

5.4. If I had to redo my internship 92

BIBLIOGRAPHY 93

APPENDIX 94

8
 OVERVIEW
The Organization

The necessity of establishing a stock exchange in the then East Pakistan was first recognized by

the Government in the early 1952 when the Calcutta Stock Exchange prohibited transactions of

Pakistani shares and securities. It was felt at that time that East Pakistan should have an

independent Stock Exchange. On September 03, 1953 a meeting was held at Dacca-Narayanganj

Chamber of Commerce & Industry where it was decided to draw up the Memorandum and Articles

of Association of the Stock Exchange based on the prevailing rules of the Stock Exchanges in

other countries. The organization was incorporated under the name as the East Pakistan Stock

Exchange Association Limited on April 28, 1954. At the time of incorporation, the authorized

capital of the Exchange was Rs. 300,000 (three hundred thousand) divided into 150 shares of Rs.

2,000 each. The Exchange started its journey as a Demutualized Stock Exchange from November

21, 2013 with the Authorized Share Capital of Tk. 25,000,000,000 (twenty-five billion) divided

into 2,500,000,000 shares of Tk. 10 each and the paid-up capital of Tk. 18,037,765,000 (Eighteen

billion thirty-seven million seven sixty-five thousand) only. Although incorporated in 1954, the

formal trading of the Exchange started in 1956 at Narayanganj. It was shifted to Dhaka in 1958 at

the Narayangonj Chamber Building in Motijheel C/A. On October 01, 1957, the Stock Exchange

purchased a land at the present location in 9/F Motijheel C/A, Dhaka from the Government and

shifted in 1959. On May 14, 1964, the name of East Pakistan Stock Exchange Limited was changed

to "Dacca Stock Exchange Ltd (DSE)." Trading of the Exchange suspended during the liberation

war in 1971 and resumed on August 16, 1976. On August 10, 1998, the Stock Exchange introduced

Automated Trading System and entered into the new horizon of modern technology-based Trading

System. On January 24, 2004, the trading system of the Exchange integrated with the Central

9
Depository System, a new hub of modernization of trading system replacing paper-based shares

with electronic based shares. Direct Listing Regulations, 2006 was approved on April 12, 2006,

which brought about a revolutionary change in the listing of securities in the capital market. Book-

Building method for listing of securities in capital market was approved in the year 2010. DSE

Broad Index (DSEX) and DSE 30 Index (DS30) developed by S&P Dow Jones Indices were

introduced in the Exchange on January 28, 2013. DSE initiated Bangla Website (bangla.dsebd.org)

in addition to English Website on February 18, 2013. Instant Watch Market Surveillance Software

developed by Trapets AB, was installed on February 11, 2014 in the main stream of Surveillance

System of DSE for surveillance of the transactions of capital market. X-stream INET, the matching

engine and FlexTP, the Order Management System (OMS) were developed and installed by

NASDAQ and Flextrade respectively on December 11, 2014 for accommodating 2000 orders and

1000 transactions per second without any interruption. In 2015, the combined market cap of listed

companies on DSE stood at over $40 billion. DSE launched its own app DSE INFO for Android

devices on November 25, 2015 and online trading app powered by FlexTP for iOS, Android (DSE-

Mobile) and the Web (DSE-investor - investor.dsetrade.com) on March 09, 2016. On October 30,

2016, DSE became ISO 9001:2008 certified which upgraded to 9001:2015 on June 8, 2018. DSE

obtained the Membership of World Forum of Exchanges on June 06, 2017 and established its own

significant place among the leading Exchanges of the globe. On May 14, 2018, the consortium of

Shenzhen Stock Exchange and Shanghai Stock Exchange as the Strategic Investor, acquired 25%

stake of the organization. With the relentless initiatives, effort of related parties and association of

strategic investors, DSE continues to thrive to be a leading Exchange in this region ever since.

10
The Role

Through my Faculty supervisor, the Human Resource Department (HRD) of Dhaka Stock

Exchange came to know about my skills as developer like C++, Java, HTML, CSS, front-end

frameworks like Bootstrap and Material Design Lite, PHP, MySQL, PC building, etc. and offered

me to take up the role as intern at different departments of ICT division for 12 weeks. I spent one

month at the Web Development Department and the rest two months at other departments of ICT

division under respective supervisors suggested by the HRD Head and scheduled by the courtesy

of the Chief Technical Officer (CTO) of DSE which is given below:

Department Period Supervisor

Web Development Dept. 23 Jan to 19 Feb 2019 Md. Rezaur Rahman, AGM
System and Market 20 Feb to 27 Feb 2019 Mr. Jishan Muhammad Bin Hasan,
Administration Dept. AGM
Application Support Dept. 28 Feb to 07 Mar 2019 Mr. Md. Mahmudul Hasan, AGM
Network Development 10 Mar to 14 Mar 2019 Mr. Md. Syful Islam Sumon, Manager
(local) Dept.
Network Development 18 Mar to 24 Mar 2019 Mr. Dewan Md. Sariful Islam,
(distance) Dept. Manager
IT Infrastructure Dept. 25 Mar to 02 Apr 2019 Mr. Hasan Ahmed, Manager
Management Information 03 Apr to 09 Apr 2019 Mr. A.F.M. Golam Kibria, Sr.
Systems Dept. Executive
Back Office Development 10 Apr to 18 Apr 2019 Mr. Syed Md. Raquib Uddin, Manager
Dept.

I went to the departments according to this schedule and the assigned supervisor explained me how

the department works, what software/ hardware they use and tools to develop and what are its tasks

with pen and paper. After the briefing is over, I carry out the jobs given to me and observe the

department’s activities all day, at times letting me see what they are working on.

11
The People

As of 2018, DSE has 358 employees in total. Its annual report states that out of the employees,

311 (87%) are men and 47 (13%) are women. Most of them are middle-aged (30-50 yr.):

Figure 1: Diversity Diagram [1]

The management of DSE is governed by its Board of Directors consisting of 13 members. The

Managing Director is one of the members as ex officio with voting rights. Five of the members are

elected from DSE shareholder members and the rest seven members are currently:

• Chairman, DSE

• Justice of appellate division, Bangladesh Supreme Court

• Secretary, Government of Bangladesh

• Former Director, Federation of Bangladesh Chambers of Commerce and Industries

• Professor, CSE, Bangladesh University of Engineering and Technology

• Professor, Marketing Department, Dhaka University

• Brigadier General, Bangladesh Army

The office of DSE has six divisions, each comprising several departments. ICT division has the

greatest number of departments. Only the Internal Audit department is not under the control of any

division and is entrusted directly to the Managing Director’s office.

12
In total, there are 35 departments under six divisions and these are:

Division Departments
HR & Admin Division Human Resources Department
Common Services Department
DSE Training Academy
Maintenance Admin Department
Security Department
DSE Tower Project, Nikunja
Market Development Division Market Operations Department
Product & Market Development Department
OTC Market Department
Research & Information Department
Finance & Accounts Division Clearing Accounts Department
General Accounts Department
DSE FSDP Department
Treasury Management Department
Risk Management Department
Information & Communication Application Support Department
Technology (ICT) Division Backoffice Development Department
IT Infrastructure Department
MIS & Development Department
Network Development Department (Local)
Network Development Department (Distance)
System & Market Administration Department
Web Development Department
IT Strategy & Security Department
Company Affairs Division Board & Corporate Affairs Department
Legal Affairs Department
PR & Publication Department
TREC Affairs Department
Regulatory Affairs Division Surveillance Department
Monitoring & Compliance Department
Investigation and Enforcement Department
Listing Affairs Department
Investor Complaints, Arbitration & Litigation Dept.
Corp. Governance & Fin. Reporting Compliance Dept.

13
 ASSIGNMENT AND CONTRIBUTION
Assignment

Over the internship course, I was assigned the following tasks by the departments mentioned

below:

Web Development Department

• Check all the domains of DSE website (dse.com.bd, dsebd.org, backup2.dsebd.org and

backup2.dsebd.org/amp) have their time synchronized properly.

• Suggest how the websites can be improved, including its AMP (Accelerated Mobile Page)

version.

• Design a page for upcoming SME and OTC market by taking ideas from other bourses of

the world.

• Design a page for feeding real-time market data solutions to enterprises and third-parties.

System and Market Administration Department

• Understand how trading works by matching buyers with sellers and vice versa through

DSE’s Matching Engine called X-Stream INET.

• Observe how the daily routine tasks are carried out.

• Inspect software like X-Stream Admin Interface (XAI), X-Stream Workstation (XW),

NagiOS and Check_MK in action.

• Study the DSE Automated Trading Regulations, 1999 and a given document about DSE

On-line Trading System.

Application Support Department

• Understand the FlexTP order management system (OMS) interface used by trade operators

of all brokers in the country, which means all brokers are centrally connected to DSE.

14
 • Observe how the Broker Admin and Credit Controller Tool (CCT) of FlexTP is used by

brokers to carry out their tasks.

• Observe how the Exchange Admin of FlexTP is used by the department to administrate the

brokers.

• Inspect how the new version of FlexTP is simulated in UAT (User Acceptance Testing)

environment before production (actual deployment).

• Inspect how the department maintains all-time contact with the support team and

developers of FlexTP for assistance and modification of its features.

• Understand the configuration of DSE’s Datacenter that processes trading of all the brokers

of the country.

• Observe how hosts of the Datacenter are virtualized using VMware’s vCenter to increase

utilization of the Datacenter’s CPUs and how data is backed up regularly.

Network Development Department (Local Communication)

• Study and understand the concept of –

o OSI Model Layers

o The TCP/IP Reference Model

o Types, features & classes of IP addresses

o Classful and Classless IP addressing

o Subnetting & Network Address Translation (NAT)

o Bridge mode and Routing Mode

• Understand how the above concepts apply to the network system of DSE

• Understand the topology of the internal network of DSE connecting the PCs to switches,

routers, network printers, Wi-Fi Access Points and the Internet.

15
Network Development Department (Distance Communication)

• Understand how DSE is connected to brokers directly through vendors (ISP).

• Understand the 3 types of network available in DSE – Internal, Core & External.

• Observe how the network traffic is monitored in real-time and bandwidth is controlled.

• Understand how network problems and their source is detected and mitigated.

IT Infrastructure Department

• Understand the main functions of the department like providing technical support to all

departments of DSE, preparing requirement analysis and incident reports for purchase or

change of all kinds of infrastructure related to computing like PC, Server, PC hardware and

components, monitoring the Access Control System and other online systems, arrange IT

systems for any events like board meetings, administrating the Windows domain, including

organization-wide automatic deployment and activation of Windows updates and user

applications, and repairing any hardware or software issues of PCs and servers.

• Remotely assist an employee having an issue of being unable to access a file server.

• Try to solve an issue of not being able to give suitable privilege to a user for accessing a

file server.

• Understand and observe the software and technologies used by the department.

• Visit the Accounts Department in person to identify cause of a PC of the department not

booting up.

• Change the RAM of a problematic PC.

• Set up a fresh image installation of Windows 10 on a PC.

16
MIS Department

• Understand the basic functions of the department like Clearing & Settlement, Depository

accounting, Electronic Subscription System for IPO, Netting and developing software for

internal uses and maintain SQL databases.

• Observe the daily transfer of payout and trade data to the Depository (Central Depository

Bangladesh Limited) using the VeDAS web-based software.

• Inspect how the Electronic Subscription System (www.essbangladesh.com) works and

note what tools (language, frameworks) have been used to develop it.

Back Office Development Department

• Understand the basic functions of the department like preparing Requirement

Specification, database server and tools installation and configuration, design database

using scripts, web server installation and configuration for developing their own software,

develop and test software and provide training and user manual for it.

• Observe how the DSE-ERP web-based software works and note what tools have been used

to develop it. DSE-ERP is used for business process management of employees and

resources of DSE.

Contribution

I have studied and understood the functions of each department, theoretical terms, concepts,

materials, software, technologies and successfully carried out all the above tasks given to me.

Specifically, I made significant additional contributions to some of the tasks described below:

Web Development Department

• Found out the shortcomings of the website of DSE and suggested relevant solutions, like:

17
Drawback Solution
AMP site has no input box for searching Place a fixed search box at the top of website
instruments by name or ticker symbol. (usually the navbar).
The brand name “Dhaka Stock Exchange Ltd” Use just one image in SVG format instead of
at the top stretches abnormally when viewport five different PNG images. SVG has the
width goes above 1280px. Probably because benefit of being scalable so it is suitable for
five different images in PNG format have been responsive websites.
used for five different viewport sizes and one
of the images is disproportionate.
Search box on the official site is not fixed at Place a separate all-in-one fixed search box at
the top so when viewport width decreases the the navbar (top) that will search everything
existing search box disappears due to sidebar from company name to ticker symbol to TREC
collapsing. code/holder, to keywords.
Too much table borders Remove table borders as much as possible for
cleaner view.
Instrument page (the page of a company) Merge the two groups into one group called
contains essential information separated in two “Stock information” so that a visitor can see
groups called “Basic information” & “Market the essential information at a glance.
information”
Title of instrument page is static which just Like NASDAQ website, title of instrument
reads “Display company information” page can be dynamically named “Stock Quote
| <TICKER_SYMBOL>” e.g. “Stock Quote |
BATBC” for British American Tobacco page.
The arrow icon for the button used to reveal the Use hamburger icon instead of the arrow icon
sidebar seems non-existent and not familiar to for the button used to reveal the sidebar on
the sidebar’s function. AMP site.
The tabs are wrongly shadowed on AMP site Shadow the inactive tabs and unshadow the
active tab

18
The drawbacks and solution (wherever apply) are illustrated below:

Active tab shadowed – solution: shadow the inactive tabs and leave the active tab white

Brand name too stretchy if viewport >1280px width (above), but fine at <1280px (below)

Place a separate Search input at the navbar

19
 Essential information split into two, market info and basic info

Better if the information is grouped in a single place called “Stock Information”

20
 The title (marked green) is too long and static

Better if the title is dynamic like this for convenience

The arrow button is barely noticeable

21
Better replace the arrow icon with a bigger hamburger icon for readability

Selecting a graph option opens graph in a new tab which can be a mess

22
 Better if the graph is embedded directly on the page with a default graph shown that can

be changed by selecting the combo options

Figure 2: Suggestions from the DSE Website [2]

• I have also collected the best features of the websites of other Exchanges of the world for

department’s consideration to improve their responsive and AMP website, these are

described below:

o Accelerated Mobile Page (AMP): Dhaka Stock Exchange has also a lite version of

its new responsive website which is an accelerated mobile page. The site looks

extremely well and loads very fast, according to my observation, but there are some

few inconsistencies.

23
Singapore Exchange’s Website (SGX) has more streamlined presentation of

today’s volume, value, trade, advancers/decliners at a glance.

There is a news section at the lower section of homepage of SGX and Barbados

Stock Exchange but DSE’s AMP site has no news section.

24
The icon to open side menu is a >> double arrow which goes unnoticed, instead

of the more known ≡ hamburger icon.

In company page, SGX’s Volume graph, price graph and trade graph all plotted on

same area (pictured above left) but DSE’s graph opens on another page instead of

same page.

Figure 3: Difference with SGX Website [3]

25
 Figure 4: Difference with NASDAQ website [4]

Company page has no news section related to that company (basically those news

from all news on homepage filtered to the company name). Besides, a small

paragraph about the company i.e. company profile, could be a welcome addition.

o NASDAQ (https://business.nasdaq.com/intel/market-data-feeds/equities-market-

data/index.html) and Istanbul SE (https://www.borsaistanbul.com/en/data/data-

dissemination/market-data-products) sells market data as packages to customers

and enterprises and earns a good amount from it. Basically, their services are:

▪ Sells equity market data

▪ Has data levels (level 1, 2 etc.)

▪ Organizes into packages (basic, totalView, NLS, etc.)

▪ Price list on another page

26
The designs of their pages are:

The homepage of Market Data Service

27
28
These are the packages. Opening each link gives us the below pages:

29
The forms section available to download related pdfs.

30
The data feed request form

31
32
The price list page is given below:

33
34
The product table of all its data products and packages are:

35
o Istanbul Stock Exchange: Their webpage also functions like the NASDAQ market

data page. There’s as much information as required related to market data service.

36
37
 DSE can implement web pages like these for presenting real-time market data.

These webpages should basically function to convey information to its viewers.

Hence it may display as much information as possible.

o Small and Medium Enterprise (SME) market: This is a market especially for

companies with a minimum paid-up capital of Tk. 50 million. DSE is looking to

assist them to raise funds by making initial public offering (IPO) in the SME

38
market. Therefore, a new page for SME market is necessary which can be similar

to the following:

Euronext Subsidiary, Enternext (https://www.enternext.biz/en) for companies

under ₤ 1 Billion, has separate website. Financial analysis for SMEs

(https://www.enternext.biz/en/enternext/financial-analysis). Broker incentive

program (https://www.enternext.biz/en/enternext/financial-analysis/programme)

MorningStar Research Report for each small and medium enterprises

(https://www.enternext.biz/en/enternext/financial-analysis/morningstar-reports)

39
40
41
42
BSE SME (https://www.bsesme.com/):

• Introduction

(https://www.bsesme.com/static/about/introduction.aspx#about)

• Market

(https://www.bsesme.com/markets/SME_streamer.aspx?expandable=4#markets)

• Get Listed

(https://www.bsesme.com/markets/SME_streamer.aspx?expandable=4#getlisted)

• Research reports

(https://www.bsesme.com/ResearchRprts.aspx)

43
44
45
Direct Market Plus of Wiener Börse [Austrian Stock Exchange]

(https://www.wienerborse.at/en/issuers/going-public-ipo/directmarketplus/)

• This is a stock exchange regulated segment for helping young businesses

(SMEs) to expand

• It consists mainly of textual information, shown below:

46
47
48
Junior Market of Jamaica Stock Exchange

(https://www.jamstockex.com/market-data/listed-companies/junior-market)

• Describes the market as a platform for SMEs (junior companies)

• Lists SMEs on a table

49
o OTC Markets: DSE already has a page for OTC (over the counter) market but it is

just a group of hyperlinks directing to paragraphed answers to frequently asked

questions.

50
Now the department have decided to incorporate OTC instruments and their market

data onto the page. I suggested to design the pages similar to the following pages

from www.otcmarkets.com:

All OTC news organized into a grid, at the bottom

A search box for only the OTC companies

51
At-a-glance view of total OTC companies (securities), total value of shares in

money, total volume of shares and total number of trades occurred

List of available indexes with their changes

A table for some highlighted securities with its LTP, change, %change, volume in

money, number of shares and number of trades with a link for viewing more

securities.

52
A table for each broker’s (like DSE’s TREC holder) details, like its code (like

DSE’s TREC code), the total volume of shares and its value it conducted, and the

amount of trades it carried out

Company profile in company page

trade history table in the company page

53
News and disclosure related to that company in company page

Stock price-volume graph over time of the company in company page

54
Market details of the company in company page

List of companies advanced/declined

55
System and Market Administration Department

• At 2:30 pm daily when the market closes, the categorized trade summary of that day is

copied manually to a Windows server for backup and are dematerialized which includes

spot declarations as well. An in-house FoxPro based software is used to carry out the work.

I suggested to automate the process by serializing the steps by means of PowerShell scripts

that will be triggered every day at the given time. When the process is completed, an e-

mail or SMS may be generated to the officers notifying either the process is done

successfully or specific errors occurred.

IT Infrastructure Department

• A problem arose when an employee of DSE could not get access to a resource in a file

server and trying to grant explicit permissions of the resource to that person caused “Error

Applying Security – Failed to enumerate objects in the container. Access is denied”, even

if the person is given full control of the resource.

56
I solved the problem by following the below steps and the employee was then able to access

the resource:

1. Click Change for Owner in the Advanced Security Settings window

2. Click Advanced option in Select User or Group window

3. Select the user account

4. In the Advanced Security Settings, check both “Replace owner on

subcontainers and objects” and “Replace all child object permissions entries

with inheritable permission entries from this object”.

5. Apply then ok

57
• I also changed the RAM and Hard Disk Drive of some PCs to repair them and also clean

installed Windows 10 on them via restoring an image.

58
 TECHNOLOGICAL ASPECT OF THE INTERNSHIP
Because of the computerization of DSE, most of official processes relies on information

technology. The trading system, which is the heart of DSE, has been automated and digitalized

hence DSE does not have to intervene trading process at all unless absolutely necessary. Perhaps,

one thing that is much appreciable is the effort of DSE going green – minimizing the use of paper

to almost zero. Nearly all office works like files, documents, reports, orders, intradepartmental,

interdepartmental or interdivisional communications, and internal memos are transmitted solely

through e-mail under the domain of “<name>@dse.com.bd” powered by Microsoft Exchange

using the Microsoft Outlook e-mail client. Reports are printed only when approvals from upper

management are required.

During my internship, I have seen different tools and technologies including hardware and

software that are used extensively by different departments. Some technical systems are supervised

by more than one department while others are supervised exclusively by a specific department.

Basically, from what I have seen as a whole, the PCs (desktop, laptop) and file servers run

Windows 10 Pro (mostly), Windows 7 (few) and Windows Server 2012 (server), Web Servers run

Linux distributions such as RedHat with Apache software and database servers either run

Microsoft SQL Server or MySQL.

In details, the tools and technologies each department use and I have used are:

Web Development Department

• HTML and CSS: The frontend webpage designing languages. Custom CSS rules (no

third-party) are coded for styling the pages of DSE website.

• PHP: The backend server-side scripting language added with HTML. It shows the

dynamic contents of DSE website, for example, market data, date & time, etc.

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 • MySQL: The relational Database Management System used for storage and

manipulation of data that needs to be displayed on the website. Point to be noted that

manual data manipulation is prohibited due to business policy of DSE.

• Apache HTTP server: The web servers that are used to host the DSE website is

configured with Apache HTTPD software so that the server can send website data to

client according to the PHP code.

• Chrome Developer Tools: I used this tool to parse the HTML code of the pages of

website and edit the code to make suggestion for improvement.

System and market Administration Department

• X-Stream INET: This is the Matching Engine (ME) of DSE’s trading system powered

by the datacenter of DSE which runs Linux and is based on Intel x86.

• X-Stream Workstation: This is an alternate order management system (OMS) to the

FlexTP system which is the current OMS.

• X-stream Admin Interface: XAI in short, this is the administrative interface accessible

only by the department. This is used to add new broker to the ME, or modify or remove

broker. Furthermore, important parameters like credit limits and circuit breakers are

configured here and things like setting categories for instruments, spot declarations and

holiday dates (so that ME shuts down during those days) are carried out.

• NagiOS: It is a monitoring and alerting system software for servers, switches,

applications and services. With it, all the ME’s hosts and servers are monitored and

displayed in real-time.

• Check_MK: It is also a monitoring and alerting software. With it, ME’s processes are

monitored and shown on a graphical user interface.

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Application Support Department

• DSE-FlexTP: This is the central Order Management System of the FlexTP platform

that operators of all brokerage firms of the country are bound to use for making stock

trades.

Figure 5: The DSE-FlexTP Interface [5]

• Broker Admin and Credit Controller Tool (CCT): These apps of FlexTP platform are

used by Credit Controllers of brokerage firms to administrate things like specifying

credit limit of each dealer, purchasing power, instrument restriction, etc., and the admin

of brokerage firms to add clients (traders) and create BOS files.

• DSE-Mobile and DSE-investor: These apps of FlexTP platform are used on mobile

(iOS, Android) and desktop devices (web) respectively by clients to buy and sell stocks

directly by own without taking help from dealers. Clients need to register through their

broker in order to use the app.

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 Figure 6: The DSE Mobile App [6]

• Exchange Admin: This app of FlexTP platform, which has the highest administrative

level, is used by this department to configure rules and information such as adding new

broker, instrument, control user access, user security policy, back office file status

check, trading policy settings like how many days needed to clear an order, report

generation, etc.

• DSE’s Datacenter (DC): It is a highly secured, temperature-controlled facility,

equipped with fire protection system where servers, storage systems and routers,

switches are situated. The processing system of DSE’s DC consists of a total of 40

processors and 6 TB RAM working in parallel.

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 • VMWare VSphere: This software is used on DC to virtualize the 23 physical hosts to

210 virtual hosts (VMs) to increase CPU utilization. This allows for better handling of

processing trades from brokers.

• VMWare VRealize Operations Manager: This is the administrative console which is

used to configure virtualization settings and monitor important parameters such as CPU

utilization, % of storage occupied, configuring backups, etc.

• Tape Cartridges: These are used to back up data regularly. Each Tape has a capacity of

5 terabytes.

• Load Balancer: Distributes network traffic across a number of servers. This is used to

distribute the huge requests from the brokers to the servers in DC.

• Zabbix: This software is used to monitor application or server level issues.

Network Development Department (Local and Distance)

• Vendors: DSE has a contract with a number of Internet Service Providers (ISPs) to

establish local connection (LAN, WAN) from brokers to DSE’s DC such as BOL,

AmberIT, Link3, etc.

• Routers: It forwards data packets between computer networks. DSE uses CISCO router.

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 • Switches: Switches are used to provide multiple connections to devices on the network.

DSE uses CISCO switches.

• Wi-Fi Access Points (AP): It allows other Wi-Fi devices such as smartphone to connect

to a wired network. The AP usually connects to a router (via a wired network) as a

standalone device. APs are placed all over DSE so that there’s a strong connection.

• DHCP Server: When a device wants to connect to the Internet, this server assigns a

public IP address to the device from a pool of reserved public IP addresses.

• SolarWinds Network Analyzers and Managers: These applications are used to monitor

DSE’s network traffic and manage bandwidth allocated to each devices.

IT Infrastructure Department

• Active Directory: As all PCs in DSE network are under DSE’s domain, the department

being a domain controller uses this domain management software on Windows Server

to administrate all the domain-joined PCs of DSE. It authenticates and authorizes all

users and computers in a Windows domain type network - assigning and enforcing

security policies for all computers and installing or updating software.

• Exchange Server: It is a mail server which runs exclusively on Windows Server. It is

responsible for transmission of e-mails that have the “@dse.com.bd” domain, in other

words, the official e-mail of DSE.

• System Center and Configuration Manager (SCCM): It is also used to administrate the

PCs by providing remote access, patch management, software distribution, operating

system deployment, network access protection and hardware and software inventory.

• KMS Server: Since large number of PCs and Servers use genuine Windows, a single

product key is used on multiple PCs to activate the OS (volume licensing) through this

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 server. In other words, DSE’s PCs are activated authentically and legally by connecting

with this server.

• WSUS Server: Stands for Windows Server Update Services. It is responsible for

receiving OS patches and updates from Microsoft and then deploying the updates to

the PCs and servers instead of each PC directly receiving updates, which saves

bandwidth. It enables administrators (the department) to manage the distribution of

updates and hotfixes released for Microsoft products to computers in a corporate

environment. WSUS downloads these updates from the Microsoft Update website and

then distributes them to computers on a network. WSUS is an integral component of

Windows Server.

• System Center Data Protection Manager (SCDPM): It provides near-continuous data

protection and data recovery in a Microsoft Windows environment and delivers

centralized backup within the data center by protecting changed files at the byte-level

to a secondary disk, which can then be backed up to tape.

• LAPS UI: It provides management of local account passwords of domain joined

computers. Passwords are stored in Active Directory (AD) so the department can read

or reset it.

• Acronis True Image: This software is used to quickly install Windows in a PC from an

image containing pre-installed apps, settings and drivers. From my observation, the

process takes about 5-7 minutes in contrast to 20+ minutes in normal installation.

• SharePoint: It is a web-based sharing and collaborative platform and a document

management and storage system. DSE uses it in its intranet for collaboration between

DSE employees and promoting teamwork.

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 • KVM switch: a hardware device that allows a user to control multiple computers from

one or more sets of keyboards, monitors, and mice. It is used by the department to

diagnose one or more problematic PCs using only one monitor, keyboard and mouse.

MIS Department

• Microsoft SQL Server: This is a relational database management system with the

primary function of storing and retrieving data as requested by other software

applications—which may run either on the same computer or on another computer

across a network. This is used to manage the backend SQL database of applications

developed by the department such as CnS, ESS, AIT, etc.

• JavaServer Faces (JSF): This is a framework that simplifies construction of user

interfaces (UI) for server-based applications by using reusable UI components in a

page. The ESS (Electronic Subscription System) website has been developed using it.

• PrimeFaces UI Library: This is an UI component library for JSF based applications.

• Apache: Web server that is used to host the web apps are configured with this software.

• FoxPro: This is a database management system that serves as backend database to

applications like Clearing & Settlement (CnS), DSE-CDBL, other in-house software,

etc.

• Clearing & Settlement: This is an application that is used to generate trade file which

contains a record of all the trades that took place on a given day.

• DSE-CDBL: This is an application that is used to generate trade file (contains record

of all trades that were cleared), payout file (contains record of amount transferred of

each broker) and market file (contains closing price of each instrument).

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 • VeDAS: Stands for Versatile Engine for Depository Accounting System. It is a web

application from CDBL (central stock depository of the country) that the department

uses to upload the three files generated from DSE-CDBL to CDBL via a separate

ethernet connection.

Back Office Development

• DSE-ERP: This is an Enterprise Resource Planning software development by the

department that holds records of many information and carries out tasks related to DSE

and its brokers such as human resource management, accounting and auditing,

procurement, incidents, role-based and user-based and mixed privilege management

(which tailors the interface of each user, i.e. DSE employee, or a group of users that

will be shown when the user logs in).

• C#: This is a programming language which have been used for developing the ERP

software.

• LINQ: Stands for Language Integrated Query. This is a query syntax built in C# to

insert or retrieve data to or from database objects. The backend database of ERP is

queried using this syntax.

• Entity Framework: It is an Object Relational Mapper which is a type of tool that

simplifies mapping between objects in a software to the tables and columns of a

relational database. This was used in ERP development to map the buttons, input boxes

and other objects to the corresponding columns and tables of the backend database.

• Oracle Database 11g: This is a relational Database Management System which is used

in the ERP as backend database.

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 LESSONS LEARNT FROM THE INTERNSHIP
As an intern of DSE, I learnt many things about how the share market works and how information

technology (IT) transformed the market, which vastly elevated my knowledge, many of which I

was not aware before. I have seen the ways theories and concepts I studied at my university are

applied to every areas of IT like software engineering, computing and networking in practice at

DSE. In addition, I learned about transition of technology over the course of time that yielded

better performance and reliability, and tools and technology that have already been discussed

previously. I asked questions when I found some terms and processes perplexing, and the answers

I received aided me a lot to comprehend many things in general. The following are the things I

learnt in details from my internship experience:

Web Development Department

The website of DSE was inaugurated in 1998. Initially, the website was externally hosted by third-

party hosting provider. Later DSE hosted the website on its own server. Only one server was used

but gradually the number increased and the servers upgraded. These servers are now situated in

the old Datacenter of DSE. The website of DSE has the domain – dsebd.org. Entering dse.com.bd

redirects to dsebd.org. The website has 675 pages. HTML and CSS (custom made not third-party)

have been used to design the frontend and MySQL has been used for the backend database. PHP

has also been used for server-side scripting. The web server is configured with Apache although it

might run either on Windows Server or RedHat Linux. The website was developed by Bangladesh

Online Limited (BOL) and the department mainly maintains this website and solves any technical

difficulties that may arise. The website also has a Bengali version (bangla.dsebd.org). Recently,

the PHP version was upgraded to 7 and work is going on to convert the website to a responsive

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one and also develop an AMP site that will load very fast and be known as the lite version of the

website. The key functions of the department are:

• DSE Official Website: Maintenance, support & troubleshooting.

• Market Data Server (MDS): Providing market data to third parties and enterprises.

• DSE Market Ticker Service: Marquee display of script symbols with prices and changes.

• DSE Data Feed (Internet Based MDS): Feeding market data to websites.

• DSE EOD Data Service: Providing End-of-Day collection of transaction data.

• Mobile application ‘DSE INFO’: Technical support of the android application.

• Advertisement on DSE website: Anyone willing to advertise can contact.

• IPO Data Transmission Software: Used for uploading files by companies seeking IPO.

• Online Payment: Mobile banking or card payments on the website.

System and Market Administration Department

Here I actually understood how the stock market works. There are about 250 brokers (TREC

holders officially) registered with DSE. Each broker has a number of dealers (operators) whose

job is to sell a client’s stock (seller) to another client willing to buy it (buyer) or vice versa, when

instructed. The other client does not necessarily have to be from the same broker. For information,

clients are traders, or investors, who invests money to trade stocks and are the customers of a

broker. Like an auction, a buyer looks for a seller who asked the lowest price, conversely, a seller

looks for a buyer who bid the highest price. When the buyer finds that seller or the seller finds that

buyer, a match is made and they can now proceed to make the deal. Some time is taken to transfer

the fund and complete the deal. There are three categories of instruments that are stock traded –

A, B, G, N, and Z. A, B, G, N are normal group and any instrument can declare to be a spot group.

69
Traders who reside outside the country are the foreign group. Normal and foreign group takes two

days, Spot group takes zero days (instant) and Z-group/category takes nine days.

Before 1997 the process of trading was manual. Dealers would stand on a stage and shout the

prices at the traders for matchmaking. After 1997 trading became automated and servers did the

job of match-making. After 2014 when FlexTP took over the trading system, the job is done by

the dedicated Matching Engine called X-Stream INET and this resulted in handling even more

transactions per unit of time. Orders are made using the apps of FlexTP platform. The search for

buyers and sellers is automatic and invited parties are arranged by sorting bid prices in ascending

order and ask prices in descending order so that buy orders have the highest price and sell orders

have the lowest price (the top row). This is the touchline price which is the best price for both

parties. The invitation of traders is called the market depth and the more the traders are invited,

the higher the market depth is. When the bid and ask price at the top row get equal, then a match

is made and the deal can proceed. If multiple traders offer the same bid/ask price then the order

entered earliest at a given price limit and the best price at a given time it gets executed first.

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Traders can offer prices to buy or sell stocks and it is not required to choose the last traded price

(LTP). However, there are some rules to offer prices – the increment (tick size) from LTP must

not be greater than 0.10 taka at a time. Furthermore, to counteract any abnormal market activity,

circuit breaker (acts on YCP) and filter (acts on LTP) are placed so that if the deviation goes more

than the limit then the all the trades of that instrument will halt. The limits are:

There are three types of order (be it buy or sell) - Partial fill (PF), Partial fill and kill (PFAK) and

Full fill or kill (FOK). PF means as much possible of the order quantity shall be executed as soon

as the order is submitted to the trading engine. If the order is not fully executed the remaining order

quantity shall be stored which shall be visible to the market, PFAK means as much as possible of

the order quantity shall be executed as soon as the order is submitted and the remaining order

quantity shall be returned to the trader who entered the order, PFAK means either all of the orders

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quantity shall be executed as soon as the order is submitted to the trading engine or the entire order

shall be rejected and returned to the trader.

Figure 7: A rudimentary block diagram of DSE stock trading

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Servers in the datacenter have been upgraded from time to time for increasing handling the rate of

trades as follows:

The current ME, X-Stream INET, has the following features:

• Very fast matching engine;

• High volume trading engine

• System can be designed as per desired trade volume;

• X-Stream Application is 3-tier, open architecture

• High performance, Robust and Scalable

• Low latency and Fault Tolerant

• Support Multi asset and multi market

• Quick Implementation

• Structured interfaces: FIX Gateway

• Industry standard API’s - ITCH and FIX

• Support SNMP & Syslog for management/monitoring;

• Supports co-location and establishment of DR site

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Electronic Trading has the following advantages:

• Reduced cost of transactions

• Greater liquidity

• Greater competition

• Increased transparency

• Improved Order Entry and Execution Speed

• Tighter spreads

• Preserve Discipline

• Diversify Trading

The specification of hardware used for the automated trading system is:

Component OMS MATCHING ENGINE

Time (year) → Before 2015 After 2015 Before 2015 After 2015
OS HP NonStop RedHat Linux RedHat Linux 6
KERNEL Windows Server 2012
Database NonStop SQL Microsoft SQL Server PostgreSQL
Server Mainframe DL380p Gen8 DL380p Gen8
Storage 3 Par Storage 3 Par Storage & EMC
VNXe3200

Monitoring / Administration Tools used by the department:

• Nagios and Check_MK

• Shell Script

• XW Terminal and XAI

• Checklist routine tasks through mail and SMS

• ZABBIX for OMS

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The Check_MK interface

The XW interface

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 The XAI interface

DSE surveillance system:

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Since the IT division is completed automated, the majority of work in this department is about

maintaining the system. For information, the market data Web Development Department provides

is taken from the database of the matching engine. Every day, there are automatic routine steps

according to a schedule for the functioning of servers. At each step, the servers send SMS to the

department officers to notify that the step is successful. The schedule is:

Time Step
6:00 am DB Export from HDD to RAM
6:20 am X-Stream Engine Start (all 25 hosts)
6:30 am FIX servers start (it connects OMS to ME)
2:30 pm FIX servers stop
4:05 pm DB load from RAM to HDD
4:30 pm X-Stream Engine Stop

A short description of some of the hosts of X-stream INET is as follows:

Host Name Services Description

naspriseq Primary Sequencer Maintains system time
nasbckseq Backup Sequencer Processes DB load/export
nasrereqseq Re requester Logs memory
naspridb Primary database Storing market data
nasbckdb Backup database For backing up primary
nasnagios nagiOS - OMD For nagiOS software
naseng01 IPXS engine, FIX gateway Maintains market state,
naseng02 matches orders, calculates
market stats. FIX is alternate
to using INET API
naseng03 to TSMR Engine, OPR TSMR serves traders
naseng12 connecting to INET

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Application Support Department

One of the functions of this department are to maintain the FlexTP platform – consists of DSE-

FlexTP OMS, DSE-mobile, DSE-investor, Client Administration Tools (CAT) which includes

Credit Control (CCT), Broker Administration and Central Administration (Exchange Admin). The

former two CATs are used by the brokers to administrate clients and credits, and the latter CAT is

used by the department to administrate the brokers like adding new broker, instrument, control

user access, user security policy, back office file status check, trading policy settings which means

it has the highest administrative power that governs anything related to the trading system – from

clients and brokers to instruments. Another function is always keeping in touch with the technical

support team of FlexTP developer for any issues. Another function is requesting any feature

addition or modification of FlexTP and testing and deploying new versions of it whenever

available. Another function is providing support to brokers over e-mail, messages and telephone.

Another function is to monitor the servers in Datacenter (DC) which hosts the FlexTP platform

and make regular backup of it. The relation of user-role with DSE-FlexTP and CAT is:

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As discussed earlier, each broker encompasses a number of dealers who are at charge of a number

of clients (traders). The dealers are governed by a credit controller, who is supervised by broker

admin. This is illustrated as follows:

The DSE-FlexTP shows completely real-time market data on its interface:

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An order for a client is made in the following way:

All orders and executions can be exported to Excel. Order status can be – Working (New, Partially

Filled, Pending cancel), Done (Filled) and Terminated (Cancelled) where parenthesized statuses

come from Matching Engine.

Technical Analysis can be performed in the OMS as well:

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The benefits of using DSE-FlexTP are:

• Centralized web- based solution.

• Workplace can be personalized.

• Multiple workplaces can be designed.

• Individual windows can be configured.

• Workplace can be saved in a file and the same can be used in another machine.

• Real time watch list export to excel and view instrument position

• Link all small windows within workspace.

• View client’s position (share balance) and cash balance from own terminal.

• technical analysis and charting tools.

• Historical index can be viewed.

• Individual company information can be shown.

Clients can make buy and sell orders on their own by using DSE-mobile on their mobile or DSE-

investor on web. When a new version of DSE-FlexTP becomes available, the department at first

runs it in an UAT (user acceptance testing) environment. When the testing is successful, the

version is deployed through VPN tunneling.

An important function of the department is to upload back-office (BOS), End-of-day (EOD) ticker

and trade files to brokers via FTP (File Transfer Protocol) daily.

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There are eight silos for serving the brokers and client apps. Silo is a repository of data. Each silo

contains fourteen copies of the OMS database. Out of these fourteen copies, ten is used for web

(Internet Information Service) which includes client apps (called MOGO, uses four), three is open

and reserved for checking, and one is used for the FTP to upload BOS files to brokers.

VMware VCenter is used to virtualize the 23 physical hosts (servers) into 210 virtual hosts to

increase handling of huge number of requests from all the brokers. Because of the high

specification, the % utilization of CPU is very low without virtualization. This number of virtual

hosts were created to utilize more CPU resource to handle requests as much as possible.

The servers run 24/7, however, to keep these smooth, automatic shutdown program is set to run

every 90 days to reboot them. The OMS and database are backed up daily, apps are backed up

every Thursday and full backup is done once per month to tape cartridges.

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Network Development Department (Local and Distance)

The computer network of DSE is made up of three segments – Internal, Core and External. Internal

network spans within the DSE office up to the servers of Datacenter, the Core network spans the

servers and other components of the Datacenter itself which serves FlexTP, X-Stream and Website,

and External Network which spans from the outside of DSE, illustrated by the following diagram:

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I have learnt about the concept of OSI Model Layers, The TCP/IP Reference Model Types,

Features & classes of IP addresses, Classful and Classless IP addressing, Subnetting, Network

Address Translation (NAT), Bridge mode and Routing Mode. Furthermore, I understood how

these concepts are related to the implementation of the network system of DSE. For example, the

TCP/IP layers that are used by different components of DSE’s network are:

TCP/IP Layers Components

Application layer Hosts
Transport layer Gateways
Internet layer Routers
Network Access layer switches, bridges, hubs, repeaters

When a device wants to connect to a network, it firstly connects with the nearest access point. The

DHCP server assigns it a private IP address if connecting to intranet, and public IP address if

connecting to internet from its pool of reserved IP addresses for a lease time. Private IP address is

translated to public IP address by means of NAT because all devices in an intranet uses the same

public IP address.

IT Infrastructure Department

This department provides technical support to other DSE departments and employees regarding

any IT issues either by telephone, remote accessing or physical inspection. It installs, configures,

repairs, administrate, manages and monitors all the IT infrastructure of DSE, including PC, Server,

Datacenter Cooling System, Cable management, fire protection system, access control system,

UPS, Printer, scanner, CCTV, etc. It is also the domain controller of all Windows PC joined to the

DSE domain. It prepares requirement analysis of IT products for users, documentation for various

departmental requirements and memo, and makes report of any incidents related to IT

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infrastructure, like change of PC hardware by using an in-house data-keeping software. It is

responsible for domain-wide deployment and support of software and Operating System like

Windows 10, Windows Server, Antivirus, e-mail client, etc. It also provides IT support, like

arranging projector, laptop, screen, etc. for any events of DSE inside or outside the premises like

Board Meeting, Press Conference, etc. The tools and technologies that are used to accomplish

these functions were already discussed previously.

MIS (Management Information Systems) Development Department

This department mainly performs three types of functions – Operational, Reporting and

Development & Maintenance. The operational tasks are the daily routine tasks that must be carried

out at a specific time. This includes using the Clearing & Settlement (CnS), Versatile Engine for

Depository Accounting System (VEDAS), DSE-CDBL interface and Electronic Subscription

System (ESS) software. The CnS is used at first to generate the payout and trade file. DSE-CDBL

is also used to generate the same. The difference of these two versions is that the former is trades

that were supposed to be cleared and the latter are those that are cleared (settled). Then these two

versions are compared; if the number of trades is same then the files are correct and these files are

then uploaded to CDBL via VEDAS. The Reporting tasks include all the tasks that involves

generating reports for approval of upper management like instrument summary and spot

declaration report. The Development and Maintenance includes software development and tasks

including designing and implementing the software and also make any future changes to it due to

requirement changes or bug fixes, like the software mentioned above (CnS, VEDAS, DSE-CDBL

and ESS) are developed and maintained by the department. Their functions can be illustrated by

the following diagram:

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 MIS

Development and
Operational Reporting
maintenance

CnS VEDAS DSE-CDBL ESS

- Payout IPO
Submitting
- Payout - Tradefile - Apply
files to
- Tradefile - Market -Issue
CDBL
- Auction -Status

Netting: It is a treasury procedure that consists of grouping multiple cash flows into a single

‘netted’ amount. This practice allows positive and negative values to offset each other, thereby

reducing cash flow risk. Used when submitted the files to CDBL.

The daily tasks include: Before trade hours (<10:30 am) - Update CnS listing for Instrument add,

share adjustment, Spot declaration, Instrument name change, New Broker, Group (A, B, G, N, Z)

change, Sector add, Foreign client verification, generate payout, trade, market, auction file. After

trade hours (>2:30) - generate report.

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ESS – This software (web app) is hosted at essbangladesh.com which can be used by any

incorporated company to get themselves listed on DSE’s trade market and go public by the process

of Initial Public Offering (IPO).

An issue is created when a company applies for an IPO. There are two types of entities who will

buy the shares that a company offers (IPO amount) to get listed – Eligible Investors (EI -

Institutions) and General Public (GP - Individuals). IPO can be made through two ways – Fixed

Price Method (FPM - involves subscription) and Book Building Method (BBM - involves

bidding). It is required that in FPM, IPO amount is allocated at a ratio of 1:1 = EI:GP and in BBM

the ratio is 3:2 = EI:GP. FPM requires company to pay the IPO amount full in advance, and BBM

requires company to pay the IPO amount 20% in advance. After various steps and formalities,

when the IPO is done, the status shows “Completed” and otherwise it shows “Processed”.

This ESS web app is developed with JavaServer Faces (JSF) framework as frontend and Oracle

database as backend, coded in Java.

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Back Office Development

The function of this department is mainly to develop software for use in DSE or DSE’s brokers.

The process of developing software in the department is outlined below:

Prepare user
Requirement Web Server
manual/slides
Analysis Installation and
Configuration
Prepare UAT
Environment
Installation and Migrate data if
Configuration of needed
Database Server
Integrated
Installation and
Development
Configuration
Environment and
other tools Provide Training

Installation of Coding and Testing

database tools

Demo
Database
design with
scripts Change/upgrade

The most significant software this department developed is the DSE-ERP software. This is an

Enterprise Resource Planning software that holds records of many information and carries out

tasks related to DSE and its brokers such as human resource management, accounting and auditing,

procurement, incidents, role-based and user-based and mixed privilege management (which tailors

the interface of each user, i.e. DSE employee, or a group of users that is shown when the user logs

in). The software has been developed using C# with Entity Framework as frontend, Oracle 11g as

backend database and LINQ as query syntax framework for database querying.

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 CONCLUSION AND FUTURE WORK
Interaction with reporting manager & coworkers

My interaction with the reporting managers (supervisors) and co-workers were very friendly. They

were very happy to help and spared me as much time as possible for explaining me concepts and

processes very excellently with pen and paper and computers. The supervisors who assigned me

works (like Web Development and Infrastructure) politely asked me from time to time about my

progress of work after which I submitted the tasks. The tasks that were given to me never felt

burdening to me because the tasks were given one after the other completed. I also developed a

good connection with most of the co-workers during my internship. The environment was also

very pleasing. Co-workers never hesitated to show me their work and they were eager to give me

as much knowledge as possible. They valued my feedback despite them being very highly

experienced and knowledgeable. I too was very cordial and respected them. During breaks, for

example, lunchtime, I made chats with co-workers and exchanged personal information, national

issues and other enjoyable topics which strengthened my bond with them. They were also very

satisfied with my works. These things consequentially enhanced my university’s image to them. I

believe that my internship will cause DSE to look forward to more interns and graduates to come

from North South University for internship or other professional positions.

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Roadblocks encountered and solved

During my internship, I certainly faced difficulties that impeded me from understanding concepts,

processes, departmental functions and tasks assigned to me. I had a hard time adjusting to each

new department I visited, probably due to new environment and workflows, which I later managed

to overcome it by self-studying diligently. As DSE is a financial institution according to its

business model, I myself being a Computer Science Student had to grasp all the financial terms as

I had no idea related to it beforehand. For any inquiries, I tried to ask as many questions as possible

to my co-workers so that I left no stones unturned in terms of required knowledge. I took notes on

my journal book whenever needed and went through helpful resources on the Internet.

Nevertheless, some of the tasks took more time to complete due to increased difficulty, like the

tasks where I was told to find out features from the website of all the bourses of the world which

also has an AMP version. I searched websites of at least a hundred bourses, some of which are

very inferior and unknown to the rest of the world. The effort by me and the valuable help from

the compassionate co-workers and supervisors made me confident and much more proficient.

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Effect of internship on my career plan

As I have been nearing graduation, I made a career plan based on my age. I am much older than

the typical undergraduates who are 22-25 years old and given the fact that most entry-level jobs in

my country require maximum age of 30 years, including the government sector, I was worried

about my future after graduation. I wanted to pursue my Masters in Computer Science at a

prestigious university abroad but I was in a dilemma choosing between entering a job firstly then

take a few years’ leave for completing Masters, or the opposite. I also thought about starting up a

business out of my knowledge obtained through my studentship. This is when the internship

experience cleared me out of the dilemma. As I talked about my career plan with my co-workers,

most of them suggested to complete Masters firstly and enter professional life later for it leaves

more choices. In addition, they also suggested me to take part in certification examinations like

CCNA, CISSP, CCISO, etc. so that I become more potent for employment. Furthermore, as a

bonus, I could also become a good stock trader or broker by using the extensive knowledge

acquired from the internship experience.

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If I had to redo my internship

If I had a chance to be an intern again at DSE, I would certainly make a different approach. When

I explored departments like the Web Development and Networking, I valued confidentiality very

much so I was very careful in asking too many questions that may result in embarrassment. For

example, once when a web server situated inside the Web Development caused problems in

rendering the DSE website, and the officers were busy finding out and solving the problem

technically, I was carrying out a task assigned to me. I was curious to see what code they were

writing on the terminal but I could not observe it due to chance of disclosure. Furthermore, at that

time I had a vague knowledge of how the market works. So, if I had to redo my internship, I would

visit the latter departments first to obtain a good knowledge and then visit the former department.

I would also not spend more time on a department than the other, and request to allocate more time

equally in each department, perhaps spending few more departments in other divisions other than

ICT division, like Research and Information, market operations and surveillance department. My

schedule was also somewhat unfortunate where the allocated days of each department were mostly

wasted due to off-days. If I had the chance, I would try to visit each department for two weeks. I

would also suggest the departments to use solutions like Slack, Microsoft Flow and Microsoft

Azure to increase collaboration, automation and harness the power of cloud computing to decrease

the cost of running a datacenter, and also relocate disaster recovery (DR) datacenter to a distant

place. If there was an opportunity, I would redo my internship few months later when DSE is slated

to shift to a larger state-of-the-art new building, which is also its own, that will possibly feature all

the latest technologies.

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 BIBLIOGRAPHY
[1] DSE Annual Report 2018, Dhaka Stock Exchange Limited, June 2018, pp. 67

[2] The DSE Website, www.dse.com.bd

[3] The Singapore Exchange Website, www.sgx.com

[4] The NASDAQ Website, www.nasdaq.com

[5] FlexTP User Training Presentation, Dhaka Stock Exchange Limited, 19 October 2014, pp. 25

[6] DSE Mobile Overview, Dhaka Stock Exchange Limited, 19 October 2014, pp. 30

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