Nepse to launch full-fledged online trading next fiscal
Kathmandu, November 7
Nepal Stock Exchange (Nepse) has failed to launch the fully automated trading system by mid-November this year as promised earlier and said that full-fledged online trading will begin from the beginning of next fiscal, if everything goes smoothly.
Earlier, Nepse has promised to start testing of online trading by-mid August and launch fully automated trading by mid-November. However, the country’s only trading bourse has deferred the schedule citing the delay in approval of System Requirement Specification (SRS) documents and absence of leadership in the company for a few months.
As per the agreement with the system developer, YCO Pvt Ltd, the latter has to instal the system by June next year, according to Chandra Singh Saud, the newly appointed CEO of Nepse.
He, however, said that the SRS documents will be approved by the study committee formed comprising officials from the Ministry of Finance, Nepal Rastra Bank and independent experts by mid-November this year and the works will gather pace after approval of the documents.
YCO has so far concluded the works related to the modules of automated trading system and it has already been approved as well. But the works related to coding will start only after the approval of the SRS documents.
Online trading system in the stock market is expected to take the country’s stock market to a new height and non-resident Nepalis will also be able to invest in the country’s stock market. The brokerage firms will provide accounts to the clients, through which they would be able to place their order of sale and purchase through use of internet. Nepse has said that it will also add some features for margin trading as the securities market regulator has recently issued directives for the same.