Broker information restored on the floorsheet; investors thank SEBON

ShareSansar, January 22:

Nepal Stock Exchange Limited (NEPSE) has restored the broker number on the floorsheet of its website since yesterday following mounting criticism from the stakeholders, especially overwhelming majority of investors, and directive from the regulator.

The Securities Board of Nepal (SEBON) had sought clarification from the NEPSE as to why it decided to remove the broker’s numbers from the floorsheet.

“We are very thankful to the SEBON for acting quickly to save us from being ruined,” said a retail investor who entirely depends on the share market for his livelihood. “Had the regulator not promptly ordered resumption of the floorsheet, thousands of investors like us would have been destroyed.”

ShareSansar as well as most of the media organization had raised the issue prominently in the interest of the majority of the investors.

Earlier this month, NEPSE had removed the broker’s number from the floorsheet, acting upon the request of the brokers for their “rights to privacy”.

The investors, especially the retail ones, had taken strongly objected to the move, stating that the stock exchange was being played at the hands of a handful of big investors and brokers in their attempt to cartel the share trading at a time when the stock exchange has not been able to provide the market depth to the investors.

Retail investors were particularly angry because in absence of the market depth and the removal of broker’s information on the floorsheet had left them with no concrete information to devise their trading strategy.

On the other hand, the brokers had argued that it is about their rights to privacy.
Some of the investors had warned that if the regulator did not act quickly to re-enter broker’s number in the floorsheet, they would be compelled to file a case in the court of law against the move.