SEBON positive on brokers’ plan to expand branches

SEBON has positively responded to brokers’ plan for establishing branches/Remote Work Station (RWS) outside Kathmandu valley. Stock Brokers Association of Nepal had earlier submitted a list of brokers interested to expand branches outside Kathmandu along with the cities they are interested in. Responding to the said letter from the association and Nepal Stock Exchange (NEPSE), SEBON had organized a meeting with representatives of NEPSE, CDS and Clearing Ltd., and representatives from the individual brokers. The meeting discussed on the required capital and infrastructures required for establishing RWS, risk management, manpower, NEPSE and CDS procedures, and risks associated with those procedures. The meeting had come into conclusion that investors would be greatly benefitted from the RWS. However, SEBON has requested for further explanation regarding minimization and management of inter-related risks. SEBON has requested NEPSE for further recommendations and suggestions, after which SEBON aims to quickly implement the plan.