NEPSE Confirms Seven More Memberships for New Brokers in Second Phase

The Nepal Stock Exchange (NEPSE) has provided final approval of membership for seven new brokers, today, in the second phase. 

According to Company Secretary and Information Officer at NEPSE, Murahari Parajuli, seven new brokers' membership at the stock exchange has been confirmed in the second phase. 

The following brokerage houses had their NEPSE membership approved along with their respective broker numbers: 

68-Elite Stock House Limited
69-Index Securities Limited
70-Infinity Securities Limited
71-Shubkamana Securities Pvt. Ltd.
72-Hatemalo Financial Services Pvt Ltd
73-Money World Share Exchange Pvt. Ltd.
74-Kalash Securities Pvt Ltd

Firstly, 43 among the 46 applicant companies had received preliminary licenses/letter of intent (LOI) from SEBON, which occured in three different phases. 

READ MORE: 14 Additional Companies Receive LOIs; 43 Among 46 Applicants Receive Preliminary Stock Broker License 

Following the development, seven and eleven brokerage companies received final licenses from SEBON, in the first and second phase, respectively, after fulfilling infrastructural requirements.

READ MORE: SEBON: 11 New Brokerage Houses Receive Licences After Fulfulling Infrastructural Pre-requisite; First Time in History of Capital Market That Bank Gets License of Stock Broker

Thereafter, the Nepal Stock Exchange (NEPSE) verified the LOI for membership of seven and ten companies in the first and second phase, respectively. 

READ MORE: 10 New Brokerage Houses Receive LOI From NEPSE in Second Phase

Subsequently, after the preliminary approval of NEPSE membership of seven new companies in the first phase, their licenses were finalized and henceforth have begun operations as well. 

READ MORE: New Stock Brokers Commence Trading Following License Approval

Currently, 29 companies have received final license from SEBON, three brokers are waiting for the approval of their final license from NEPSE, while the 14 have received final approval of their NEPSE membership, seven among which have begun trading. 

In the same manner, the seven brokerage houses which have begun operations have received a Depository Participant (DP) License from CDS and Clearing Limited. 

READ MORE: Seven New Brokers Receive DP License This Morning