Nepal Stock Exchange (Nepse)’s failure to find a suitable consultant to advise it on new automated system for the second time will further delay the trading system upgradation.
Nepse has extended the deadline for the national and international consultants to bid contract to provide advisory service by two more weeks.
“We have not received applications from any eligible consultant so far, but since some companies have requested for extension of the deadline so that they can participate, we are pushing back the cutoff date,” informed Sitaram Thapaliya, general manager of Nepse. The deadline to submit the EoI is on May 3.
The stock exchange had published the notice asking for sealed Expressions of Interest (EOI) from qualified and eligible consultants to provide consultancy service to establish Fully Automated Online Trading System for the second time back in early April.
Nepal’s only stock exchange is in dire need of upgrading its trading system, which currently uses a semi-automated system that takes electronic orders from brokers’ portal and matches them to execute the orders.
In order to buy or sell the stocks, investors need to approach the brokers to place the orders, making the stock trading accessible only to the traders in Kathmandu and selected cities.
The consultant is supposed to assess the existing system and market scenario before recommending whether to upgrade the trading system to make it compatible with online trading or to replace it with a new one to incorporate the required features.
Back in February also, the stock exchange had invited consultants to submit EoI for the same purpose, although the
bidding was open only for Nepali companies. However, the three companies that had submitted the EoI back then were found to be ineligible as per the criteria set by the stock exchange.
source: the himalayan times,1 may 2014
LINK
Nepse has extended the deadline for the national and international consultants to bid contract to provide advisory service by two more weeks.
“We have not received applications from any eligible consultant so far, but since some companies have requested for extension of the deadline so that they can participate, we are pushing back the cutoff date,” informed Sitaram Thapaliya, general manager of Nepse. The deadline to submit the EoI is on May 3.
The stock exchange had published the notice asking for sealed Expressions of Interest (EOI) from qualified and eligible consultants to provide consultancy service to establish Fully Automated Online Trading System for the second time back in early April.
Nepal’s only stock exchange is in dire need of upgrading its trading system, which currently uses a semi-automated system that takes electronic orders from brokers’ portal and matches them to execute the orders.
In order to buy or sell the stocks, investors need to approach the brokers to place the orders, making the stock trading accessible only to the traders in Kathmandu and selected cities.
The consultant is supposed to assess the existing system and market scenario before recommending whether to upgrade the trading system to make it compatible with online trading or to replace it with a new one to incorporate the required features.
Back in February also, the stock exchange had invited consultants to submit EoI for the same purpose, although the
bidding was open only for Nepali companies. However, the three companies that had submitted the EoI back then were found to be ineligible as per the criteria set by the stock exchange.
source: the himalayan times,1 may 2014
LINK
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