"The board is in the final stage of approving the API policy," said Bhishmaraj Dhungana, Chairman of SEBON.
Earlier, the policy was returned by SEBON to NEPSE citing erroneous writing. The board is now set to approve the revised policy. The board is planning to provide more and more relief to the investors through the policy.
Time and again, investors have been complaining that the existing TMS does not work properly. Few days ago also, investors had reached NEPSE to complain about the TMS not working in four broker companies. At that time, NEPSE commited to solve the problem as soon as possible.
In a bid to eliminate the problem, the board is approving the API policy. The board is planning to allow the broker companies to buy TMS by bringing API policy.
In recent time, broker companies were dissatisfied on the delay of implementing API policy. Earlier, the broker companies had initiated the process of purchasing a new model TMS from international market.
Implementation of API Policy will ease the functioning of broker companies as well as stock dealers. The API policy will allow the broker to buy new TMS as per their requirement. Currently, the broker companies use TMS build by NEPSE to process sell and buy orders of investors. Broker companies along with general investors had been complaining about log-in problems, order hideouts, substandard quality of TMS since the ages.
Following the implementation, broker companies can bring world-class TMS as per their will. However, the TMS must be of a higher standard than the current NEPSE TMS.
In the mean time, NEPSE will be responsible for matching engine only. It will just process and finalize the buy sell order given by two investors.
Implementation of the policy will increase the efficiency of high income earning broker companies that want to give good services to its customers as they can install world class TMS which can be costly. However, low income earning broker companies are not compelled to install new TMS, they can continue with the existing NEPSE TMS.