Nepse interruptions becoming norm rather than exception

ShareSansar, May 31:

Despite recurring technical failures that cripple its trading system, Nepal Stock Exchange lacks the preparedness to deal with the problems swiftly as and when they occur. Considering the sensitiveness attached to the functioning of its system and impact its failures have on the investment market, brokers and investors feel that Nepse ought to act more responsibly and show some accountability.  

On Thursday, Nepse’s website http://www.nepalstock.com was not updated leading to confusions about market movement and the day’s trade volume.

The problem was further compounded as brokers and investors could not get proper answers for the discrepancies in numbers. A broker said that his repeated calls to Nepse to get an explanation for the failure went unanswered. Neither had the Nepse updated its website with reasons or information about the discrepancy until late Thursday.   

Such technical glitches are becoming norms rather than exceptions. The stock exchange has already seen interruptions at least three to four times this year. Last year too trading was halted several times.

The current automated trading system was built with the support of a UK based firm and is handled now by a Nepali firm called Yomari.