SEBON Approves Licenses of Five More Brokerage Companies
Fri, Aug 18, 2023 5:49 AM on Stock Market, Latest,
The Securities Board of Nepal (SEBON) has granted approval to five more brokerage companies.
Among the five now-newly licensed Sajilo Broker Company Ltd, Roadshow Securities Ltd, and Beni Securities Pvt. Ltd has been granted licenses under the limited stock broking services.
Meanwhile, Himalayan Securities Ltd and Sunny Securities Company Ltd. have received licenses under the full operating brokerage service provider category.
The licenses were granted after an evaluation of infrastructural pre-requirement fulfillment.
Now, the companies are required to file for a membership at the Nepal Stock Exchange (NEPSE) and receive approval of the same along with their broker symbol. Meanwhile, the companies have to acquire a Depository Participant (DP) license from CDS and Clearing Limited (CDSC).
With this development, 37 companies have received final license from SEBON.
Firstly, 43 among the 46 applicant companies had received preliminary licenses/letter of intent (LOI) from SEBON, which occured in three different phases.
SEBON has granted 37 licenses as of now in five phases.
In the first phase seven companies including Bhole Ganesh Securities Limited, Capital Max Securities Limited, Himalayan Brokerage Company Limited, Sun Securities Private Limited, Miyo Securities Private Limited, Sharepro Securities Private Limited and Property Wizard Limited received licenses.
In the second phase, Elite Stock House Limited, Infinity Securities Limited, Index Securities Limited, Shubkamana Securities Private Limited, Mega Stock Markets Limited, Hatemalo Financial Services Private Limited, Money World Share Exchange Private Limited, Machhapuchhre Securities Limited, KBL Securities Limited, Kalash Stock Market Private Limited and Nabil Securities Limited had their licenses approved.
Similarly, Milky Way Share Broker Company Ltd, Akash Bhairav Securities Ltd, Capital Hub Pvt. Ltd, Pahi Investment Pvt. Ltd, S.P.S.A Securities Ltd, NMB Securities Ltd, Sanima Securities Ltd, Stochastics Securities Pvt Ltd, Bluechip Securities Ltd, Garima Securities Ltd, and Indira Securities Pvt. Ltd are the recipients of final brokerage licences in the third phase.
In the fourth phase, three banks were grant licenses: J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited.
In the fifth phase, recently, Sajilo Broker Company Ltd, Roadshow Securities Ltd, and Beni Securities Pvt. Ltd, Himalayan Securities Ltd and Sunny Securities Company Ltd. were granted their licenses.
After the approval of SEBON, 17 companies have received NEPSE membership in three phases.
In the first phase, Bhole Ganesh Securities Limited, Capital Max Securities Limited, Himalayan Brokerage Company Limited, Sun Securities Private Limited, Miyo Securities Private Limited, Sharepro Securities Private Limited and Property Wizard Limited received licenses.
In the second phase, Elite Stock House Limited, Index Securities Limited, Infinity Securities Limited, Shubkamana Securities Pvt. Ltd., Hatemalo Financial Services Pvt Ltd, Money World Share Exchange Pvt. Ltd. and Kalash Securities Pvt Ltd, their licenses approved by NEPSE.
In the third phase, three banks including Nabil Securities Ltd, Machhapuchhre Securities Ltd and Mega Stock Markets Limited were awarded the brokerage licenses.
