Nepal Stock Exchange (Nepse) is planning to test an automated online-trading system from mid-August. It is also planning to replace the existing semi-automated system used for trading of stocks by mid-November.
According to Nepse, the fully-automated online trading system will be tested in mid-August while such system will be readied for the implementation by mid-November after incorporating necessary feedback and suggestions received from Nepse officials during the test phase.
"Currently we have intra-net trading system, which will be replaced by internet system whereby investors can place their trading orders from their computers from their home without requiring to come to broker's office," said the Nepse general manager Sitaram Thapaliya.
With the new online trading system, there will be new components of member portal system, surveillance system, and collateral system. "Like watching replay of a football game, we can go back to a certain transaction and check whether there has been any manipulation and take corrective measure if there has been any problem," he said, adding that an automated debit and credit system of cash from bank account and stocks from the dematerialised account of investors will be in place once the orders are matched and trading is executed through the online system.
The fully-automated online-trading system being developed by YCO – an information technology firm – will allow investors to put their orders to buy or sell shares online while everything, including payment, clearing and settlement, will be carried out electronically.
Following a long legal battle and tussle with Securities Board of Nepal (Sebon) – the capital market regulator – over the selection of YCO, the Nepse had signed the agreement with the firm for supply, delivery, installation and commissioning of the fully-automated online trading system in February after a court ruling came in favour of the vendor. The vendor has agreed to deliver the system within 14 months.
Issuing a statement today, Nepse said that the YCO has informed Nepse officials at a meeting that it has been working on various modules of the proposed project in a parallel way and will make the system available for test in mid-August.
According to Nepse, the fully-automated online trading system will be tested in mid-August while such system will be readied for the implementation by mid-November after incorporating necessary feedback and suggestions received from Nepse officials during the test phase.
"Currently we have intra-net trading system, which will be replaced by internet system whereby investors can place their trading orders from their computers from their home without requiring to come to broker's office," said the Nepse general manager Sitaram Thapaliya.
With the new online trading system, there will be new components of member portal system, surveillance system, and collateral system. "Like watching replay of a football game, we can go back to a certain transaction and check whether there has been any manipulation and take corrective measure if there has been any problem," he said, adding that an automated debit and credit system of cash from bank account and stocks from the dematerialised account of investors will be in place once the orders are matched and trading is executed through the online system.
The fully-automated online-trading system being developed by YCO – an information technology firm – will allow investors to put their orders to buy or sell shares online while everything, including payment, clearing and settlement, will be carried out electronically.
Following a long legal battle and tussle with Securities Board of Nepal (Sebon) – the capital market regulator – over the selection of YCO, the Nepse had signed the agreement with the firm for supply, delivery, installation and commissioning of the fully-automated online trading system in February after a court ruling came in favour of the vendor. The vendor has agreed to deliver the system within 14 months.
Issuing a statement today, Nepse said that the YCO has informed Nepse officials at a meeting that it has been working on various modules of the proposed project in a parallel way and will make the system available for test in mid-August.
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