Kathmandu. The Securities Board of Nepal (SEBON) has expressed serious concern over the cyber attack on the data hub of the data hub of 72 trading member companies related to the trading system of the Nepal Stock Exchange (NEPSE).

According to a press release issued by the board on Monday, the trading of 72 out of 92 companies licensed by NEPSE has been suspended due to technical glitch in the data center installed on the ‘servers’.

The board has directed NEPSE to carry out necessary study and investigation into the incident and submit a report with necessary reforms to prevent recurrence of such incidents by September 28.

According to the Board, a 5-member inspection team has been sent under the leadership of Deputy Executive Director of NEPSE to identify technical problems and identify reasons for suspension of transaction.

According to the Board, further necessary works would be carried out to make Nepal’s securities market healthy, safe and transparent in the coming days based on the suggestions received from the inspection team.

The board has also made it clear that necessary additional steps will be taken based on the findings of the study and inspection regarding the technical problems and the suspension of transactions in the securities market.