Fully AOT system to be installed by Q2; Three firms shortlisted for consultancy services

ShareSansar, August 31:

Nepal Stock Exchange (Nepse) has shortlisted three firms to work as its consultant for upgrade its existing trading system to the full automated online trading (AOT) system.

According to Nepse, it has selected Daiwa Institute of Research Ltd, The International Securities Consulting Ltd and Korea Exchange have been shortlisted to provide the consultancy services to the stock exchange company regarding the full automated online trading system.

Nepse also said that it has already asked the shortlisted companies to submit the Request for Proposal. “The company would be selected on the basis of their proposals to work as the consultant,” Nepse said in its statement.

Earlier on April 3, Nepse had invited expressions of interest (EoI) to hire a consultant to install a fully automated stock trading system.
The consultant will make its recommendations regarding the implementation of Nepse’s plan of installing fully AOT system.

Though it had invited such EoI for the first time on February 4, it was compelled to make such EoI for the second time as its first call did not attract any applicants.

However, it got 10 applicants in its second attempt of search of such consultant.

According to Nepse, Anukriti Management and Financial Consultant Pvt Ltd, Earnest and Srilanka, Coacher Consultant, Nomura Research and Institute Financial Technology, Price Water House Pvt Ltd India, SRS Consulting Pvt Ltd and Tiger SLC submitted the EoI for the consultancy services.

Likewise, Daiwa Institute, The International Securities Consulting and Korea Exchange were the other firms that submitted the EoI.

According to capital market stakeholders, the daily turnover as well as the trading in the bourse will doubled once the full AOT is installed.

The capital market regulator Sebon has projected that the daily turnover will reach to an average daily turnover of Rs 1 arba if such system along with fully paper-less technology comes into implementation.

Nepse also said that it is moving ahead with the plan to install the fully AOT system within the second quarter of the current fiscal year 2071/72.