Nepse starts training brokers
KATHMANDU:
While waiting for Nepal Stock Exchange (Nepse) to grant them membership, thirteen new brokers have started taking classes on trading on Central Depository System (CDS).
“Though we will be working on the existing trading system once we start our business, we are taking classes on Central Depository System to utilise time,” said Bharat Ranabhat, managing director of Kohinoor Securities one of the fourteen new brokerage companies that was recently granted licence by Securities Board of Nepal (Sebon).
The selected brokers have applied to the stock exchange as they are needed to be granted membership by the stock exchange to start their operations.
“The stock exchange will provide training to the new brokers on existing trading system and various aspects of capital market before they start trading,” Shankar Man Singh, managing director of the Nepse, said, adding that the Nepse is planning a comprehensive training programme for them so that they can be launched as highly professional and efficient in the secondary market.
After more than a three-year long selection process the capital market regulator has granted license to additional 13 stock brokers recently making the total numbers of brokers in the capital market to 37.
The new brokerage firms — Dynamic Money Managers, Kalika Securities, Swarnalaxmi Securities, Dakshinkali Investment and Securities, Dipshikha Dhitopatra Karobar Company, Kohinoor Investment, Secured Securities, Vision Securities, Sunny
Securities, South Asian Bulls, Lynch Stock Market, Imperial Securities Company and Creative Securities Company — will go through trainings before they start trading i n the secondary market.
Meanwhile, Nepse is also preparing to upgrade its trading system to make it more contemporary and advanced.
“We are undertaking gap analysis regarding trading and settlement software to recognise the problems in the current trading system,” said Singh. “We are preparing proposals for bilateral and multinational organisations for funding.”
He projected over Rs 400 million to acquire a new software that can help them reduce the gap.
“We have to make our trading system more capable of handling online trading and compatible with the Central Depository System that the secondary market is bringing into practice soon,” he added.
Source: THT
While waiting for Nepal Stock Exchange (Nepse) to grant them membership, thirteen new brokers have started taking classes on trading on Central Depository System (CDS).
“Though we will be working on the existing trading system once we start our business, we are taking classes on Central Depository System to utilise time,” said Bharat Ranabhat, managing director of Kohinoor Securities one of the fourteen new brokerage companies that was recently granted licence by Securities Board of Nepal (Sebon).
The selected brokers have applied to the stock exchange as they are needed to be granted membership by the stock exchange to start their operations.
“The stock exchange will provide training to the new brokers on existing trading system and various aspects of capital market before they start trading,” Shankar Man Singh, managing director of the Nepse, said, adding that the Nepse is planning a comprehensive training programme for them so that they can be launched as highly professional and efficient in the secondary market.
After more than a three-year long selection process the capital market regulator has granted license to additional 13 stock brokers recently making the total numbers of brokers in the capital market to 37.
The new brokerage firms — Dynamic Money Managers, Kalika Securities, Swarnalaxmi Securities, Dakshinkali Investment and Securities, Dipshikha Dhitopatra Karobar Company, Kohinoor Investment, Secured Securities, Vision Securities, Sunny
Securities, South Asian Bulls, Lynch Stock Market, Imperial Securities Company and Creative Securities Company — will go through trainings before they start trading i n the secondary market.
Meanwhile, Nepse is also preparing to upgrade its trading system to make it more contemporary and advanced.
“We are undertaking gap analysis regarding trading and settlement software to recognise the problems in the current trading system,” said Singh. “We are preparing proposals for bilateral and multinational organisations for funding.”
He projected over Rs 400 million to acquire a new software that can help them reduce the gap.
“We have to make our trading system more capable of handling online trading and compatible with the Central Depository System that the secondary market is bringing into practice soon,” he added.
Source: THT
