The Nepal Stock Exchange (Nepse) has begun upgrading its share trading system to facilitate growth and development of the securities markets by installing a complete automation platform. Nepse said it had targeted having an entirely online trading system by the next fiscal year.
Nepse on Tuesday called for expressions of interest (EoI) to hire a consultant. Interested firms have been given two weeks to apply, and the selection will be done through public procurement procedures. Nepse said that it would invite foreign companies to apply in case eligible domestic bidders were not found.
Nepse General Manager Sitaram Thapaliya said that they would decide whether to upgrade the existing system or install a new one after hiring a consultant.
According to Thapaliya, the consultant will make a cost-benefit analysis of the two options. It will also present a complete business plan detailing whether the new system would be compatible with the local market. In addition, the consultant will devise a strategic plan for Nepse and assess the legal requirements to be fulfilled for various issues.
Although the previous system of stock trading was replaced by online trading a few years ago, it is yet to be fully automated.
According to Nepse, investors still have to visit the stockbrokers personally to do the paper work related to registering buying and selling orders. Similarly, stockbrokers also need to settle the transactions manually.
Thapaliya said that the present system only allows stock to be traded electronically. The rest of the process has to be done manually. After the proposed automation system is implemented, investors will not have to visit the concerned stockbrokers even to book their buying and selling orders.
“It will also enable brokers to complete the entire task including the settlement of the transaction online.”
source: the kathmandu post,6 feb 2014
LINK
Nepse on Tuesday called for expressions of interest (EoI) to hire a consultant. Interested firms have been given two weeks to apply, and the selection will be done through public procurement procedures. Nepse said that it would invite foreign companies to apply in case eligible domestic bidders were not found.
Nepse General Manager Sitaram Thapaliya said that they would decide whether to upgrade the existing system or install a new one after hiring a consultant.
According to Thapaliya, the consultant will make a cost-benefit analysis of the two options. It will also present a complete business plan detailing whether the new system would be compatible with the local market. In addition, the consultant will devise a strategic plan for Nepse and assess the legal requirements to be fulfilled for various issues.
Although the previous system of stock trading was replaced by online trading a few years ago, it is yet to be fully automated.
According to Nepse, investors still have to visit the stockbrokers personally to do the paper work related to registering buying and selling orders. Similarly, stockbrokers also need to settle the transactions manually.
Thapaliya said that the present system only allows stock to be traded electronically. The rest of the process has to be done manually. After the proposed automation system is implemented, investors will not have to visit the concerned stockbrokers even to book their buying and selling orders.
“It will also enable brokers to complete the entire task including the settlement of the transaction online.”
source: the kathmandu post,6 feb 2014
LINK
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