Mubasher Technology in a Market Manipulation move via Direct FN in Sri Lanka?

Mubasher Technology the developers of Direct FN is said to be in a market manipulation move via showing erroneous figures of certain stocks in the Colombo Stock Exchange.

During the last two years Mubasher has emerged as top twenty shareholders of several listed stocks in the Colombo Stock Exchange and recent times the Mubasher systems has not been able to sustain trading and executing fast.

Mubasher Technology group totally control several emerging and frontier markets in Middle East including including Iraq and several other troubled countries.

Any idea what those stocks are?

One of them is Colonial Motors (COLO)

The Major Shareholders as at 31.03.2014 were as follows
Name of Shareholder No. of Shares %
1 The Colombo Fort Land & Building PLC 9,887,856 65.05%
2 Sri Lanka Insurance Corporation Ltd-Life Fund 571,428 3.76%
3 Mrs.Agnes E. De Vos (Decd) 374,978 2.47%
4 Pan Asia Banking Co. PLC / Lankem Ceylon PLC 338,547 2.23%
5 Seylan Bank PLC/ Capital Trust Holdings (Pvt) Ltd 132,080 0.87%
6 Trust Holdings & Investments (Pvt) Limited 123,332 0.81%
7 MAS Capital (Private) Ltd 113,835 0.75%
8 Glenford Investments (Pvt) Limited 113,332 0.75%
9 National Development Bank PLC / T.Senthilverl 111,439 0.73%
10 Colombo Fort Investments PLC 101,290 0.67%
11 Sandwave Limited 100,000 0.66%
12 Mr. Ginige Cyril Walter De Silva 96,007 0.63%
13 Island Consumer Supplies (Pvt) Limited 95,640 0.63%
14 Mr.Sidath Vivendra Kodikara 95,550 0.63%
15 Mr.Jawaharlal Vijaya Srikumaradas Corea 88,328 0.58%
16 Mr.David Kotthoff 83,000 0.55%
17 Waldock Mackenzie Ltd/Mrs. G. Soysa 78,571 0.52%
18 Mr.Weerahennedige Sohan Raminal Fernando 75,565 0.50%
19 York Arcade Holdings PLC 71,707 0.47%
20 Mubasher Financial Services BSC 71,470 0.47%

DFN company like brokers should be prevented from doing their own orders.

"Horungeth Horu Kumba Horu"

DealKing wrote:Mubasher Technology the developers of Direct FN is said to be in a market manipulation move via showing erroneous figures of certain stocks in the Colombo Stock Exchange.

During the last two years Mubasher has emerged as top twenty shareholders of several listed stocks in the Colombo Stock Exchange and recent times the Mubasher systems has not been able to sustain trading and executing fast.

Mubasher Technology group totally control several emerging and frontier markets in Middle East including including Iraq and several other troubled countries.

.

Interesting comment DK. Is it only Mubasher or any other system also involved in this? Would you know how exactly does it happen? Is it when I place an order, it goes to Mubasher before it reaches ATS for Mubasher to move before me?    What are the controls that CSE (ATS) has to ensure something like this doesnt happen?

I am sure if this is true, ATS could track as it has a time stamp on orders

"The ATS acknowledges the receipt of an order, marks it with a time stamp, and checks it for validity
(please refer Rule 2.1– Order Validation). If it is technically valid, processing continues. If not, it is
returned with the appropriate comment. No checks apart from those explicitly stated in these rules
will be performed on order size or price."

මටනම් manipulation  කෙසේ වෙතත්, DFN  එකනම් එපා වෙලා තියෙන්නෙ...    මම use  කරන platform  එක මාර outdated එකක් .... (ver 4.14.21.0)  
(mewa use karanawata apita gahanna oni..)

This means DirectFN not safe anymore????

මම උදේ 9.00 ඉදන් try කරන්නෙ DFN එකේ chart section එකට ලොග් වෙන්න.. තාම බැරි උනා ... මොන ********

DealKing wrote:Mubasher Technology the developers of Direct FN is said to be in a market manipulation move via showing erroneous figures of certain stocks in the Colombo Stock Exchange.

During the last two years Mubasher has emerged as top twenty shareholders of several listed stocks in the Colombo Stock Exchange and recent times the Mubasher systems has not been able to sustain trading and executing fast.

Mubasher Technology group totally control several emerging and frontier markets in Middle East including including Iraq and several other troubled countries.

Ammata hudu..!!! Thtas why i could not get any tradinig charts since last night.This like " Horage ammagen pena ahanawa wage"

Why Srilanka CSE/SEC is faaster sleeping..

DK Thanks maachan for reveling this...A rep from me +..

Deak King business basil always accusing without source. donno if they write this.
how to trust this people?

SHARK what is this?

BB
whats about COLO you mention.. plz explain

NC wrote:මටනම් manipulation  කෙසේ වෙතත්, DFN  එකනම් එපා වෙලා තියෙන්නෙ...    මම use  කරන platform  එක මාර outdated එකක් .... (ver 4.14.21.0)  
(mewa use karanawata apita gahanna oni..)

මගේ එක ver: 4.14.22.0 මම හිතන්නේ ලොකු වෙනසක් නැ.

කොහොම උනත් මේ ලගදි ඉදලා මට නොටිස් උනදෙයක් තමයි මේකේ චාට් ව‍ල දවස් කිහිපයක candlestick පෙන්නන්නෙ නැ . අද JINS.N වල 26 Sep 2014(today) candlestick එක තියොනවා 25 Sep 2014, 24 Sep 2014 candlestick නැ. මෙක හැටිද මෙක හැමොටම ඔහොමද?

ඇත්තටම මේ DFN විතරමද තියේන්නෙ ලංකාවේ. මේක කොහොමත් ජාරාවක්

zoozzoo wrote:

NC wrote:මටනම් manipulation  කෙසේ වෙතත්, DFN  එකනම් එපා වෙලා තියෙන්නෙ...    මම use  කරන platform  එක මාර outdated එකක් .... (ver 4.14.21.0)  
(mewa use karanawata apita gahanna oni..)

මගේ එක ver: 4.14.22.0 මම හිතන්නේ ලොකු වෙනසක් නැ.

කොහොම උනත් මේ ලගදි ඉදලා මට නොටිස් උනදෙයක් තමයි මේකේ චාට් ව‍ල දවස් කිහිපයක candlestick පෙන්නන්නෙ නැ     . අද JINS.N වල 26 Sep 2014(today) candlestick එක තියොනවා 25 Sep 2014, 24 Sep 2014 candlestick නැ.      මෙක හැටිද මෙක හැමොටම ඔහොමද?

ඇත්තටම මේ DFN විතරමද තියේන්නෙ ලංකාවේ. මේක කොහොමත් ජාරාවක්

mageth oya case 1 thibba, mama reinstall karata passe hari giya, but hitapu gaman wenawa.
ada log wuneth hena gemak deela...

As far as I know ATS Developers also has a connection.

Imagine if London Stock Exchange takeover trading systems around the world under Millennium Information Technologies (MIT) new inventions and if they along with Mubashar handle High Frequency Trading executions of codes of Software Development to handle psychosis of traders.

With MIT system that adopted in few countries their turnovers have been gradually low annually.

Don't forget over 20% of London Stock Exchange is owned by Qatar Government Fund.

There is no such things happening as accused by the person who posted this thread.
Stock market is always dealing with money and great security. There is no chance of abusing the system. The stock exchanges just sends the platform the data and price feeds. Then the application send the order request and everything else is handled from the exchange side.

Beware of wrong accusation because if this goes in a wrong direction affecting the company's name you could end up in jail and fine. Hope you know legal rules and regulations for defaming.

The application currently used in SL is not updated because the brokers who are using DirectFN is not ready to pay more for the updates. DirectFN is entirely managing the middle east market and also sharing price feeds with Bloomberg and Reuters from Middle East.
If the investors can request your brokers to update the app and fix the errors then it would be great.

Its disappointing to see these false allegations ranted at a vendor who has revolutionized trading in the local market. I my self has been a direct fn user.I did some research on these allegations which are made since false claims & rumors have become quite a popular thing in modern Sri Lanka. I spoke to a number of brokers & CSE officials on these matters,to figure out whether the Mubasher guys are manipulating the markets or do they have any suspicion on such activities their answer was a plain & simple NO. Honestly they were quite surprised at the lengths people will go to destabilize the integrity of the Colombo Stock Exchange by spreading rumors of this nature. I myself being a newcomer to this site was surprised by these claims & spent some time researching on this. This type of irresponsibility can only harm our economic system which is thriving to gain credibility and attract foreign investment. Yes!! there are application related errors which I also experienced that is off topic but a sensible person with a basic IQ could understand that these cannot be any proof for market manipulation. Market manipulation is a diverse & complicated activity which can only be identified by the top financial experts & auditors with the clear facts. As per what i heard,These systems are being certified & audited by the Exchange quarterly.Like many other subjects in Sri Lanka these arm chair critics with no knowledge on the subject goes on to publish these type of claims just to become famous. I hope Direct FN would sort out these application related errors really soon & we should give them a chance to do so because they have always come up with the innovative products to our market. The other reason is I believe that these applications are developed by our local boys based on the comment on top so its better to give our guys a chance rather than these Indian & foreign products which are coming true. Regarding the main topic please present credible proof on this matter without sending the poor investors on a wild witch hunt. Holding shares in one or 2 companies does not prove anything as per my knowledge & the share COLO which is referred in a comment just has a Market Cap of 1.1 billion out of that Mubasher holds 0.47% percent that is 5.1 million rupees , grow up guys!! Go through so much pain for 5.1million you must be joking !!
You just don’t have any clue on market manipulation. So application issues apart don’t get fooled by these claims without proof. If there is proof present it & prove it. Application issues lets push our brokers & get them sorted. Don’t be fooled by hypocrites who are trying to be famous. Food for thought guys!!

Welcome Prazy to SLEF

Hahana prazy2 and other above who hailed Direct FN...


haha look who is talking. DIRECT FN is not local it is a Dubai company.
In egypt and some middle east markets Direct FN and mubasher control market by systems.I nave a fair large knowledge o hyper frequency trading manulation and my PHD Degree is on same and mathematics.

And in Sri Lanka part of Direct FN is managed by MBSL present chairman M.R. Shah's son.

M.R. Shah is political stoog and a guy never did a proper job at any bank in the country and he was a mere bank union employee who signed the bank attendance book for correct time and went to job just get paid monthly on time with public money.

his son influenced on CSE to promote direct fn. In bangladesh Direct FN and mubasher ran a forum called deleted to manipulate market and deleted was partly responsible bangladesh stock market bubble.
In Sri Lanka deleted failed since mubasher tried monetize their forum by selling it to few stock brokers for Rs.250,000 per , onth where as no stock broker in this country was willimg to buy it.Otherwise mubasher and Direct Fn would have easily manipulated Sri Lanka's stock market in various ways from 2011.

But thanks to a forum LIKE Sri Lanka Equity Forum..many politocal stooges and many manipulators lost ground and Sri Lankan Stock Market investors were protected largely because people gwt to know true insights from this 10,000 plus commumity as far as I have learned bwing in this forum evwn at a short period.

Dear DK,

Actually you know only very little about Mubasher Financial Services (MFS).

MFS provide trading facility all over the world.
http://global.mubashertrade.com/en/markets.html
But main markets are DFM and ADX not Iraq. I have not seen any trade on Iraq in ages

MFS provides trading facility under Mubasher account for omnibus clients. All CSE stocks are held by small retail clients, even though those are under MFS account. As example COLO and KGAL shares are held by one omnibus client. Actually he is very small retail client.
MFS doesn't want to manipulate the CSE for the benefit of small retail clients   Don't make false accusations without any proof. I have all the proofs for everything I said, since I work at MFS

rizan666 wrote:There is no such things happening as accused by the person who posted this thread.
Stock market is always dealing with money and great security. There is no chance of abusing the system. The stock exchanges just sends the platform the data and price feeds. Then the application send the order request and everything else is handled from the exchange side.

Beware of wrong accusation because if this goes in a wrong direction affecting the company's name you could end up in jail and fine. Hope you know legal rules and regulations for defaming.

The application currently used in SL is not updated because the brokers who are using DirectFN is not ready to pay more for the updates. DirectFN is entirely managing the middle east market and also sharing price feeds with Bloomberg and Reuters from Middle East.
If the investors can request your brokers to update the app and fix the errors then it would be great.

Hey, rizan666 are you a programmer of DFN ?  
can you write a custom indicator for DFN, if the formulas and conditions are given? I was looking for a one...

Rizan666 wrote:Rizan666 wrote:
"Beware of wrong accusation because if this goes in a wrong direction affecting the company's name you could end up in jail and fine. Hope you know legal rules and regulations for defaming."

Hey Rizan666,
Don't write lies, Sri Lanka there is no criminal defamation. President Chandima abolished that law. No criminal liabilility only civil liability. Read the Penal Code and learn law before comment.

DealKing
Thank you very much for highlighting the wrong sing of DFN and Mubasha. You must immediately notify SEC and ask them to investigate their stock market investment and freeze activities.

There are experts in programming here, so need to develop our own system.

Roboticfx wrote:There are experts in programming here, so need to develop our own system.

Hey Robo do you know any programmer..?