What investors have to say on practice of T+3 payment system?
Sun, Apr 10, 2016 3:00 AM on Latest, Experts Speak, Featured,
It's been a long time since T+3 System settlement had been applied in the NEPSE trading system which means that the settlement of the money by the broker needs to be done on the fourth day of the trading made.
Securities Board of Nepal had received some complaints from the investors that they were not receiving their money on time.
Here are some of the opinions of the investors on the same issue.
Rajendra Maharjan
I personally do not face the problem of not being paid on time. The broker pays me on the 4th or 5th day of the trading done. If I sell a share on Wednesday than I get my money by next Tuesday, but there are some brokers who do not even pay money in 10 days of the trading conducted. When we buy the shares we usually provide money to brokers by the second or third day, they have the money still they do not provide it to the sellers for their own benefit. I believe as SEBON has warned the brokers, the trading settlement will be more regulated now.
Deependra Agrawal
In my case, when I sell the shares, I usually get my money on the 7th or 8th day of the trading conducted whereas when I am buying the shares, I need to settle the money on the third day. I think settlement of the money also depends on the personal relation with the broker, but its urgent sometimes which leads to conflicting situation between the investor and broker. The step taken by SEBON is a very good step to regulate the brokers and I also think that license should be provided to more brokers so that there will be competition among brokers and the investors will get better service and timely payment.
Bishnu Tripathi
I don’t face such problems with my broker. Settlement things also depend on the consent of the customer and broker. It all depends on the relationship of a customer with the broking company, but i believe other than personal relationship broker should apply professional relationship with their customers for the betterment of the stock market of the market.