The Securities and Exchange Commission (SEC) has asked 13 more companies to sign agreement with Central Depository Bangladesh Ltd (CDBL), the service provider, and develop necessary infrastructure like online connectivity by April 8.

After the agreement and necessary infrastructure development, the SEC will declare eligibility of the companies for the scripless trading system.

Spot trading of the securities will be held during April 24-26 and share trading of the companies will remain suspended during April 27-29 for smooth conversion of share certificates into electronic ones.

In addition to 12 companies selected earlier, the SEC picked British-American Tobacco Bangladesh for joining CDS. On February 15, the market regulators selected 12 A category companies for CDS.

The 12 issues are Dutch-Bangla Bank, Mutual Trust Bank, BOC Bangladesh, Singer Bangladesh, Bata Shoe, AMCL PRAN, Apex Tannery, AB Bank, Green Delta Insurance, Lafarge Surma Cement, Infrastructure Development Leasing Company and ACI Ltd.

The electronic trading settlement system, which eliminates risk of fake, soiled or lost shares, made its debut in capital market on January 24 with shares of Square Pharmaceuticals Ltd.

Under CDS, all paper share certificates are turned into electronic ones and transactions are held electronically. Listed companies will no longer need to maintain full-fledged share department in office as the system operator will do all the depository and transfer jobs.

SEC Executive Directive Mansur Alam said so far over 600 investors have opened beneficiary owner's account for de-matting and trading their shares under CDS.