KATHMANDU: The domestic stock market has formally gone online from today. Minister for Finance Yubaraj Khatiwada initiated the online system here today.

Nepal Stock Exchange (NEPSE) started the online trading based on a fully automated system on the direction of the Securities Board of Nepal (SEBON), the regulator of securities market.

The new technology, which was on trial since the very first day of the current fiscal year, aims to make domestic stock activities of an international standard.

Minister Khatiwada said, the government was putting in efforts to make institutional investors enter the stock market. Likewise, the government was making efforts to expand the mutual fund and commodity market for diversification of the market.

Stating that there has been six per cent economic growth in the past three years, he expressed confidence that the government would achieve eight per cent of economic growth towards the end of the current fiscal year.

All share brokers have been associated with the new fully automated online system for which all physical infrastructures have been developed. Prior to this, investors had to compulsorily visit the office of the share brokers to buy and sell shares.

Individual's email ID and mobile number are compulsory under personal details to be able to operate the system, which is expected to be a milestone in the domestic capital market by increasing people's access.

Investors should first visit their share brokers to open a personal account and then they can trade in shares through the online system by sitting at home, office or anywhere with internet facility.

SEBON President Rewat Bahadur Karki expressed confidence that the new online system would be more effective for trading in shares for the Nepalis home and abroad. Karki argued that the online system would also aid in expanding financial access and awareness among the people.

Present at the programme were NEPSE President Laxman Neupane, National Insurance Committee President Chiranjivi Chapagain, Stock Brokers Association President Bharat Ranabhat, among others, who univocally spoke of the need to increase confidence of the investors by eradicating weaknesses of the online system.