Kathmandu. The Securities Board of Nepal (SEBON) has held discussions with the top officials of the board and the board of directors of NEPSE to take forward the process of reform of the stock exchange.

KATHMANDU: The Securities Board of Nepal (SEBON) and NEPSE on Thursday held discussions on the implementation of the report submitted by the Recommendation Committee on restructuring of the Nepal Stock Exchange Limited (NEPSE-2082) and the second market operation, management and diversification of equipment and services.

The discussion focused on reforms in the institutional structure, ownership, good governance, technology, human resources, work process and transaction system of NEPSE.

Chairman of the Board, Dr. Gopal Prasad Bhatta said that capital, manpower and information technology infrastructure are indispensable issues for the modern stock exchange. Gopal Prasad Bhatta said that the discussion program was organized for the first time as the beginning of the stock exchange reform process.

He further informed that the future course of action of the Board is to carry out the restructuring of capital and ownership of NEPSE and the second market operation, management and reforms of the stock market by exercising the regulatory authority on more than 30 different issues related to equipment and service diversification.

On the occasion, Chairman of the Board of Directors of NEPSE and Joint Secretary at the Ministry of Finance, Narayan Prasad Risal said that the discussion between the Board and the Board of Directors of NEPSE was a new beginning of reforms in the stock market.

He also said that NEPSE is committed to the improvement of technology and system, institutional governance, investment tools and services.

On the occasion, Deputy Executive Director of NEPSE Ambika Ojha Gupta made a presentation on the implementation of the suggestions mentioned in the report on the restructuring of the NEPSE and the operation of the secondary market, making the management more effective, and the regulatory issues prepared by the Board on the diversification of the instruments and services of the stock market.

The Board expects that the restructuring of NEPSE and effective operation of secondary market would help expand investment options in Nepal’s capital market, increase the credibility of the trading system and strengthen market transparency.