Nepal Stock Exchange (NEPSE) plans to transform stock market into a fully online share trading system. WYCO Pvt. ltd. is the company which is developing the system. As per the company officials, “80% of the work is complete”. “The work will be completed within Jestha of 2075,” said NEPSE’s officer Chandra Singh Shaud.
As per the NEPSE, the company that is developing the system software is developing 17 different subsystems. Among which, work of 16 subsystems completes by 80%. The one system which supports broker back office is yet to develop. Which requires discussion and finalization after consultation with the brokers, that will complete within next week.
At first they will perform the internal test, after which, the system is set to be deployed to the end users for User Acceptance Testing (UAT), says Saud. The final stage of software development is User Acceptance Test and the same will be followed for the online stock market system. UAT will be done to check whether the software works according to the specification or not. After the completion of UAT, the end users will be able to trade online with the use of the software.
Finance Ministry has urged NEPSE to deploy the online share trading system as soon as possible. The Finance Ministry team for the study of online system software has instructed the software company to implement the system within the deadline by the bank guaranteeing the payment. The sub-secretary and Financial sector manager of Finance Ministry, Uttar Kumar Khatri promised to provide the bank guarantee to the software company for the payment so the implementation does not get any delay.
“As per the same instruction, the ministry paid WYCO, 1 crore and 36 Lakh rupees,” said Saud.
When will the service start?
As per the plan, they will finish the installation of the system in Jestha, 2075. After which, they will perform the testing of the system in Ashad. So, we can expect the online trading service to start from Shrawan of 2075. If the company completes the task on time, there is no doubt of starting service within this period. The preview of software hasn’t been disclosed yet.