CDS and
Clearing Ltd (CDSC) – currently a 100 per cent subsidiary of the Nepal Stock
Exchange (Nepse) – should be made an autonomous body for the expansion of its
working area, according to outgoing chairman of CDSC.
"Nepse
has Rs 300 million investment – the current paid up capital of CDSC of its
total Rs 500 million authorised capital – has wider scope," said Dr Jiba
Nath Dhita, speaking with the press today, the last day in the office for him
as chairman of the CDSC.
"CDSC
can work as National Academic Depository that can store certificates and
transcripts of various universities and digital records of different government
agencies apart from stocks," he said, adding that it has a huge scope.
There is a
scope of dematerialising government securities like bonds and treasury bills
too, said, CDSC chief executive Subodh Sharma Sigdel. "With wider scope of
working areas, CDSC might have to work with different regulatory
agencies," he said, adding that making CDSC an autonomous body will not only widen
the scope but also make it easier to work with carious regulatory authorities.
Currently, there are 28
clearing members and 10 DPs, 15 firms have dematerialised their shares and 483
demat accounts.
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