Nepse suspends 16 brokers today for non-settlement of cash

ShareSansar, July 27:

Nepal Stock Exchange Limited (Nepse) has suspended 16 brokers for non-settlement of cash today.

The broker numbers 3, 7, 8, 14, 18, 19, 25, 26, 29, 37, 38, 42, 46, 48, 53 and 55 will not be allowed to perform trading today, according to a notice posted by Nepse on its site.

Since last month NEPSE has stepped up action against brokers who have failed to fulfill the clearing and settlement obligations after a share transaction.

As per the rule set by the regulator, clearing and settlement must be done within the three days of a transaction.