Four companies submit applications to run commodity exchange markets
Kathmandu, April 24
Three companies have submitted applications at the Securities Board of Nepal (SEBON) to operate the stock exchange market.
According to SEBON, Himalayan Stock Exchange, National Stock Exchange of Nepal and Annapurna Stock Exchange Ltd have applied to operate another stock exchange in the country.
Similarly, Multi Derivative Exchange Ltd, Multi Assets and Derivative Exchange Ltd, Himalayan Commodities and Derivative Exchange and Nepal Multi Commodities Exchange Ltd have submitted applications to operate commodity exchange markets in the country.
SEBON had called forth organisations interested in the operation of the securities market and commodity exchange market to submit applications to the board on April 13. The deadline for submitting applications was on Sunday evening.
Earlier, the board had revised the Securities Market Operation Regulations 2008 and requested applications for operations of a stock exchange, commodity exchange market and additional stock brokers on September 18. However, the Supreme Court had halted the application process after a writ was filed against SEBONS's decision.
Then on April 9, the apex court had dismissed the writ petition and gave green light to the SEBON to distribute licences for new stockbrokers, a new stock exchange and a commodity exchange market.
A version of this article appears in the print on April 25, 2023, of The Himalayan Times.
