Kathmandu, September 17
The Nepal Stock Exchange (Nepse) has said it will start mock online trading from Tuesday.
Initially, Nepse had said it would launch fully automated electronic trading system of shares in the secondary market from July 17. However, there have been repeated delays in getting the system started and Nepse has once again failed to provide a date from when it will start online trading of shares.
“We are almost ready to launch the online trading system but some issues that were detected during the software tests are still to be fixed,” informed Chandra Singh Saud, general manager of Nepse.
According to Saud, the software developers and Nepse are working to get the system started but it will take at least two more months for it to be fully active. “We are committed to implement the system, but prior to the launch our primary duty is to create awareness among investors and brokers so that they get used to the online trading system and its procedures.”
He further said that Nepse will build its own data centre within the next two years.
Meanwhile, YCO Pvt Ltd, which is developing the software for the online trading system, said it is still testing the trade management system. “We are currently working on a system for order modification and cancellation of shares when a buyer and seller cannot fix the purchase order,” said Sagar Upadhyaya, project manager at YCO.
Upadhyaya further clarified that for instance if a buyer wants to change the number of shares they want to buy or cancel the order, this system will help them do so.
Nepse had purchased the software for the electronic trading system from YCO Pvt Ltd at a cost of Rs 6.4 million.
On July 3, Nepse had tested the User Acceptance Testing (UAT) of the software to create online stock trading system, which will allow investors to post purchase and sales order and provide them payment, clearing and settlement facilities.
The Securities Registration and Issue Regulation, 2018 has a provision of online trading system and Nepse is all set to introduce that guideline.
The post Secondary market to launch mock online share trading today appeared first on The Himalayan Times.
Written by Sandeep
This news first appeared on https://thehimalayantimes.com/business/secondary-market-to-launch-mock-online-share-trading-today/ under the title “Secondary market to launch mock online share trading today”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
