Nepse suspends 24 more brokers today for non-settlement of cash

ShareSansar, July 28:

Nepal Stock Exchange Limited (Nepse) has suspended 24 more brokers for non-settlement of cash today.

The broker numbers 3, 7, 8, 14, 16, 19, 21, 25, 26, 29, 32, 36, 37, 38, 40, 42, 46, 48, 51, 52, 53, 55 58 and 59 cannot perform trade today due to non-settlement of cash.

Only yesterday, broker numbers 3, 7, 8, 14, 18, 19, 25, 26, 29, 37, 38, 42, 46, 48, 53 and 55 were barred from perform trading, 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.