July 6: The Nepal Stock Exchange (NEPSE) has granted the trading membership to seven new brokerage companies for operation of their services. 

"A meeting of the Board of Directors of NEPSE decided to provide NEPSE membership to the seven new brokerage companies which have fulfilled all specified criteria," said NEPSE spokesperson Muraharii Parajuli.

Earlier, NEPSE had provided letter of intent (LOI)/preliminary license to seven companies in the first phase.

 In the first phase, the SEBON had granted licenses to seven brokerage companies to operate as limited brokers. They have now received the membership of the NEPSE to commence brokerage services.

 The seven new companies granted the membership to operate brokerage service include Bhole Ganesh Securities Limited, Capital Max Securities Limited, Himalayan Brokerage Company Limited, Sun Securities Private Limited, Miyo Securities Private Limited, Sharepro Securities Private Limited and Property Wizard Limited. 

NEPSE has assigned broker numbers to these companies, with San Securities being assigned broker number 64, Himalayan Brokerage as broker number 63, Miyo Securities as broker number 66.

Similarly, NEPSE has assigned SharePro Securities as broker number 65, Bhole Ganesh Securities as broker number 61, Capital Max Securities as broker number 62, and Property Wizard as broker number 67.

In the second phase, SEBON had granted the brokerage  licenses to 11 additional companies after they met all specified criteria.

Following the approval, Mega Stock Markets Limited can commence its services as a full operating securities broker. Additionally, Nabil Securities Limited, the lone applicant for a broker company with a dealer’s license, had its application approved. 

Other nine companies which were granted licenses to work as limited securities brokers include Elite Stock House Limited, Infinity Securities Limited, Index Securities Limited, Shubkamana Securities Private Limited.

Others include Hatemalo Financial Services Private Limited, Money World Share Exchange Private Limited, Machhapuchhre Securities Limited, Kalash Stock Market Private Limited and KBL Securities Limited.