NEPSE tightens noose on brokers

ShareSansar, June 19:

NEPSE has started taking action against brokers who have failed to fulfill the clearing and settlement obligations after a share transaction.

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

The brokers who fail to comply with the rule are barred from trading.

While Kalika Securities (broker no 46) was blocked from buying and selling shares on both Monday and Tuesday, Kumari Securities (broker no 1), Ashutosh Brokerage and Securities (broker no 8), Pragyan Securities (broker no 10), Nepal Investment and Securities (broker no 19), Midas Securities (broker no 21), Dipsikha Dhitopatra (broker no 38), had been prohibited on Monday, i.e. 3rd Asar, 2070.

Brokers, meanwhile, blame individual investors for the delay in clearing. According to them, individual buyers have been dilly dallying on the payment after agreeing to buy shares.