Be Rich gets BSEC’s nod as market maker

The securities regulator has decided to award the registration certificate to Be Rich Limited as a market maker.

Under the Bangladesh Securities and Exchange Commission (Market Maker) Rules, 2017, the BSEC has decided to issue a market registration certificate to Be Rich Limited, a TREC Holder of the Chittagong Stock Exchange, said the commission in a statement on Sunday.

A market maker is entitled to keep the share prices within a certain range through buying and selling securities based on fundamentals of companies depending on the market situation.

The BSEC eased some market maker rules on June 13, 2017 as no institutions showed interest in the market maker role under the rules framed in 2000.

The minimum capital requirement for becoming a market maker is Tk 10 crore, according to the rules.