DSE sources said HAC Securities placed a sale order for shares of Northern Jute against a client from its Banani branch, but there was no share of the company in the client's portfolio.
'As the brokerage house could not settle the accounts at the day's closing, we have suspended trading operation of the firm until the issue is resolved,' he said.
A number of clients of HAC Securities on Tuesday alleged that the house was involved in forced selling of shares and the incident of the 'short selling' occurred due to the move of the firm. They also submitted a complaint to the Securities and Exchange Commission in this regard.
Laique Ali Chowdhury, MD of HAC Securities, told New Age, 'Today our trading operation was suspended by the DSE management on a settlement issue. We hope that the problem would be resolved by tomorrow (Wednesday).' He said, 'I have no such information about forced selling in my firm.'
Source: New Age
