YCO Private Limited, the developer of the online trading system for Nepal Stock Exchange (NEPSE), had informed that fully automated online trading system would be available from the third week of Kartik 2074.
However, NEPSE was not able to deliver on the promise. NEPSE has now informed that the full-fledged online trading will begin from the beginning of next fiscal if everything goes smoothly.
Previously, NEPSE had informed that the testing of the online trading would start from mid-August. But, the country’s only trading bourse deferred the schedule due to the delay in approval of System Requirement Specification (SRS) documents and absence of leadership in the company for a few months.
According to Chandra Singh Saud, the newly appointed CEO of Nepse, YCO has signed the agreement to install the system by June next year. He added that SRS documents will be approved by the study committee formed comprising officials from the Ministry of Finance, Nepal Rastra Bank and independent experts by mid-November this year. With this approval, the works will gather a faster pace.
YCO has completed most of the work. However, works related to coding will only start after approval of SRS document. NEPSE had also informed that it will add features for margin trading as the securities market regulator has recently issued directives for the same.
The online trading system in the stock market is expected to bring great positive changes to the country’s stock market.