Nepal stock exchange goes automated
Sunday, 26 August 2007
Casting off the outdated Open Cry system, the only secondary share market of Nepal, Nepal Stock Exchange (NEPSE), has adopted the automated system.
The automation of the stock exchange was inaugurated by Finance Minister Ram Sharan Mahat Friday, according to Internet.
"Now we can avoid human error that was associated with the Open Cry system," said Pramod Bhattarai, a manager at NEPSE.
Besides, the automated system will also help control price-rigging in share transactions," Bhattarai added.
The automation of NEPSE was carried out by Comdaq Limited under a project financed by the Asian Development Bank (ADB).
The Aries Group from USA was primary consultant to this project and Mercantile Office System (MOS) partnered with Comdaq Limited in supplying the advanced hardware needed to run the platform.
"From the very beginning of the project, Comdaq endeavoured to provide Nepal Stock Exchange with our proven 'next generation' exchange that is very affordable, low cost to run, scalable and available to more market opportunities than ever before," said Chief Operating Officer of the Comdaq Limited Troy Miranda.
"The system has been designed as per International specifications and has been specially customised to local Nepal Stock Exchange requirements," Miranda said.
The automation of NEPSE is expected to allow it to accelerate financial integration with the global markets.
The automation of the stock exchange was inaugurated by Finance Minister Ram Sharan Mahat Friday, according to Internet.
"Now we can avoid human error that was associated with the Open Cry system," said Pramod Bhattarai, a manager at NEPSE.
Besides, the automated system will also help control price-rigging in share transactions," Bhattarai added.
The automation of NEPSE was carried out by Comdaq Limited under a project financed by the Asian Development Bank (ADB).
The Aries Group from USA was primary consultant to this project and Mercantile Office System (MOS) partnered with Comdaq Limited in supplying the advanced hardware needed to run the platform.
"From the very beginning of the project, Comdaq endeavoured to provide Nepal Stock Exchange with our proven 'next generation' exchange that is very affordable, low cost to run, scalable and available to more market opportunities than ever before," said Chief Operating Officer of the Comdaq Limited Troy Miranda.
"The system has been designed as per International specifications and has been specially customised to local Nepal Stock Exchange requirements," Miranda said.
The automation of NEPSE is expected to allow it to accelerate financial integration with the global markets.