Nepse provides extra log-in accounts to brokers

KATHMANDU, April 6:

In a bid to speed up and simplify trading of shares in the secondary market, Nepal Stock Exchange (Nepse) has provided extra log-in accounts to each broker.

Stock brokers had long been complaining about difficulty in stock trading due to single log-in account provided by Nepse.

Nepse provided extra log-in accounts to brokers after it upgraded the trading software. Brokers, however, will have to arrange computers and other necessary requirements themselves.

Narendra Raj Sijapati, president of Stock Brokers Association of Nepal (SBAN), told Republica that the extra log-in account would help simplify their works during trading hours. “It will also make trading process faster for investors,” he said, adding that the extra log-in account would enable them to work two different log-in windows which will ease the pressure and simplify the process.

According to Nepse, the upgraded software will support 120 log-in accounts.

“Though we are required to complete settlement by the T+3 (after 3 days of trading day), we sometimes make payment on the fourth day due to work pressure. The extra log-in account will help us overcome such problems,” he added.

Sijapati said brokers would start using multiple log-ins from Sunday. “We will arrange necessary infrastructures by Saturday,” he added.

Meanwhile, Nepse on Thursday called for the Expression of Interest (EOI) from the interested consultants to provide consultancy service for establishing Fully Automated Online Trading System. This is the second time Nepse has made call for EoI for consultancy service. It had called for EoI for the first time on February 4.

Source: Republica