Nepse to upgrade trading system

Nepal Stock Exchange (Nepse) claims to be preparing to start internet-based trading of securities, though the trading has been frequently delayed due to technical glitches of the software in recent months.

During the 20th anniversary celebration here today, general manager of Nepse Sitaram Thapaliya claimed that the process to upgrade Nepse has already began. "The upgradation will bring international standard to the Nepse, part from helping reduce risks," he said, adding that Nepse is installing an electronic display board of live trading.

The secondary market that has seen more upward movement these days, has added five new companies in the six months of the current fiscal year 2013-14 making a total of 235 listed companies.

The front line regulator will also start Block Trading Facilities (BTF), prepare dealers and market makers to expand the market, Thapalia said, adding that it is also planning due diligence audit (DDA) also to find out the ground situation of the Nepse.

Likewise, the annual general meeting of Nepse has also approved 2:1 bonus shares worth Rs 100 million, which has increased the paid up capital and issued capital to Rs 300 million from today.

Currently, the Nespe has been providing service to four cities – Biratnagar, Pokhara, Narayangarh and Butwal – through remote work station (RWS). The service will be expanded to Dharan from the current fiscal year, according to the Nepse.