NEPSE formally starts process for fully automated trading; issuing EOI to consultants

ShareSansar, February 4:

Nepal Stock Exchange Limited has formally started the process for fully automated trading by issuing an Expression of Interest (EOI) to the consultants within a day or two.

On the basis of the report prepared by the consultants, the only stock exchange in the country will begin carry forward the process for the trading fully based on the internet to much convenience of all the stakeholders, especially the investors, according to NEPSE officials.

“We will place notices on the national dailies in the first phase, calling for the EOI from the interest consultants within 15 days,” NEPSE General Manager Sitaram Thapaliya said, adding that only Nepali institutional consultants were eligible for the EOI.

NEPSE could look for foreign consultants only if Nepali experts are not available.

Some of the other criteria for the consultants include that their firm must be at least five years old, it must have at least three years of experience in the field of online trading project, and it must have handled at least three projects related to the stock exchange.

The hired consultant (s) must give recommendations to NEPSE  within three months whether the existing trading system could be upgraded or that it has to be replaced by a new one.