KATHMANDU, OCT 19: A total of 34 stockbrokers have applied at the Nepal Stock Exchange (Nepse) to seek permission to use their own trade management system (TMS) for share transactions.
These brokerage companies have sought to quit using the TMS of Nepse after the frontline regulator turned flexible on allowing the stockbrokers to use their own system. Of the applicants, 33 brokerage companies have considered using the trading system via their local representative DG Hub Pvt Ltd.
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According to Nepse, 33 companies have chosen TMS developers from Sri Lanka while Nasa Security will be using the system facilitated by Asterisk Technology. The remaining 16 brokerage companies will be using the Nepse-provided TMS, which was developed by YCO, a subsidiary of Yomari.
Nepse has maintained that the vendor companies that will be providing the TMS software to Nepali brokers should ensure a high security system. In addition, the vendor company should have the history of providing services to at least 10 clients related to stocks trading.
