Where is Online Trading System? Investor have to wait till 17th Poush at least for full implementation

It has been 21 days since the official launch of online trading system, but there seem to be no positive impact of the new system on the market. Since its official launch, NEPSE index has lost more than 60 points. This is partly due to the problems and glitches that came with the launch of online trading system even after repeated tests and trainings. Problems like technical faults on the website, slow processing of transaction, ambiguity among brokers and investors etc. have taken their toll on the market.

For clarity about the issue, some of the brokers were asked some questions. On asking about the effectiveness and scope of the online trading system they said “Online Trading System is imperative to boost the growth of the securities market. It plays a major role in easing the trading process for the investors.”

They were asked about the major problems with new system for which they said “Initially there were technical problems which are being dealt with. Another major problem is the difference in data presented on the website which needs immediate attention for smooth implementation.”

The brokers mentioned that they have received major complaints regarding the username/password distribution. They said that the distribution is not in the hands of the brokers, the investors will receive the same after NEPSE is ready. Further talking about the protest against NEPSE by investors that happened on 10^th Mangsir (Yesterday), they said that the investor have certain sets of rights which they can claim if they feel exploited. They added that online trading is something that will undoubtedly be implemented in Nepal but it requires detailed assessment and discussion for smooth functioning and ease of trade for the investors, which may take more time than expected.

Addressing the numerous complaints of investors, NEPSE recently issued a press release regarding the timeline of procession of the online trading system. This comes as a result of the protest by investors on Mangsir 10^th. On 16^th Mangsir, NEPSE will make available the username and password for the investors only for the purpose of testing. The feedback and suggestion from the users will be considered and incorporated in the Trade Management System and the brokers will be distributing the username and password from 23^rd Mangsir. Finally, the online trading system will be open for all the users from 17^th Poush, 2075.       

Nepal is on the path of creating history for the wrong reasons after being among those countries whose securities exchange lost heavily after the launch of a system that was built for the exact opposite reason. Although, the launch of new system is merely for the ease of trade and has no direct impact on the rise or fall of the benchmark index, the positive impact of the same cannot be seen yet.

Who is to blame? The concerned authorities for not being able to proficiently handle the said issues or the current downward trend of the market that even the new system couldn’t overturn. There has been much talk about what is online trading system and what it will bring to the market but looking at the facts and figures, it has brought nothing but dismay to the investors.