August 23: The Securities Brokers Association Nepal has submitted a memorandum to the Securities Board of Nepal with various demands including development, expansion and improving the current situation of the secondary market.

Sagar Dhakal, chairman of the Securities Brokers Association of Nepal submitted the memorandum to the Chairman of the Securities Board, Ramesh Hamal in the presence of the executive committee members of the association.

The association through the memorandum has requested the regulatory body to operate auction market for a minimum of 30 minutes after the regular trading period.

Currently, investors are forced to pay a 20 per cent fine in case of closeout, so to manage it and solve the problem of closeout, it has been demanded to operate the auction market for a minimum of 30 minutes after the regular market period.

In addition to this, the association has requested the board to allow opening of Demat account, which are an indispensable tool for risk management, as per the need of the investors. Currently, an individual can open only two Demat accounts.