Kathmandu, May 8
The Securities Board of
Nepal (SEBON) said on Friday that the share market would resume operation from
May 12, Tuesday after remaining shut for about seven weeks.
Spokesperson of the board
Niraj Giri said that the decision was made as per the Cabinet decision on
Wedesday, and following a discussion with the stakeholder organisations – Nepal
Stock Exchange (NEPSE), CDS and Clearing, merchant bankers, broker agencies and
depository participants.
The market will be opened
for two hours every from 11 PM to 1 PM and all transactions will be online.
However, initially the brokerage firm will motivate and guide the investors to
use online system in share transactions for the coming two months while the new
system will be made mandatorily from the beginning of the next fiscal year,
mid-July.
However, NEPSE, CDSC,
merchant bankers, depository participants and broker companies should open
their offices from Sunday in order to make them ready for the market.
“Make an arrangement to create account of
every investor in ‘Mero Share’ and make transactions and payments through the
same system,” SEBON directed the NEPSE and other concerned agencies.
The investors can open their
account in Mero Share without any fees till mid-July.
According to the board, the
brokerage firms should strictly take margin from the investors as per the law.
The new directives from the
SEBON has a provision to close the shares transactions if the NEPSE index is
increased or decreased by 2 per cent.
It also said that the
investors can obtain the password and user ID to conduce online transaction of
securities without any charges till mid-July. They have to pay to obtain the same
facility beyond that period.
The SEBON has also directed
to maintain Help Desk to hear the grievances of the investors.
NEPSE and CDSC will create
safety protocol which will be implemented by all share brokerage firms, depository
participants and merchant bankers. All the institutions will run their
operations with just one-third of their human resources who will attend the
office in different slots.
The capital market regulator
also said that the concerned institutions will get passes for only a third of
their available vehicle. Such passes will be provided by the board.
Published in The Rising Nepal daily on 9 May 2020.
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