Brokers submit bank guarantee for clearing membership, Now connected with CDSCL

ShareSansar, August 20:

All the brokerage firms have submitted the bank guarantee to the CDS and Clearing Ltd (CDSCL) to work as the clearing member. According to the statement of the Nepse, all the 50 firms took the membership of the CDSCL by Tuesday.

Likewise, the brokers have also connected them with the system connectivity of the CDSC.

The Nepse had issued circular to the brokerage firms with the deadline of Tuesday to take the system connectivity and submit the bank guarantee for the clearing membership.

Nepse said that that these moves will be of help towards full-fledged operation of paper-less securities trading. “Nepse expects help from other concerned stakeholders of the capital market in the coming days,” the statement reads.