Dynamic Money Managers Securities Found Splitting Shares to Trade as Odd-Lot; NEPSE Penalizes by Suspending Membership and Halting Trading for 1 day

Nepal Stock Exchange has suspended the membership of stockbroker - Dynamic Money Managers Securities and halted its trading for today.

According to the existing rules, if an investor has less than 10 units shares, it can only be traded as an odd-lot. The rule also forbids investors from trading in the odd-lot if their share quantity is more than 10 units.

However, NEPSE's trading system detected shares from Dynamic Money Managers Securities being split up and traded as odd-lot.

To penalize this break of rule, NEPSE has suspended the membership of Dynamic Money Managers Securities and halted its trading for today. NEPSE has also warned the broker company to not repeat such action henceforth.