29th July 2023, Kathmandu
Continuing to bolster the financial ecosystem, CDS and Clearing Limited (CDS) has welcomed seven new broker companies as deposit members under Regulation 14 of Securities Central Deposit Service Regulations, 2068. The memberships were granted on Friday, 12th July.
The newly enrolled institutions will provide centralized securities custody services. Among the successful applicants are Property Wizard Limited, Sun Securities Pvt. Ltd., Capital Max Securities Ltd., Sharepro Securities Pvt. Ltd., Bholeganesh Securities Ltd., Himalayan Brokerage Company Limited, and Meo Securities Pvt. Co., Ltd.
In addition to the deposit memberships, Vision Securities Pvt. Ltd. has received authorization as a KYC Registered Representative.
The firm has submitted a request to CDS and Clearing Limited to participate in the KYC Centralized Electronic Customer Identification Service Operating Guidelines, 2077. Once approved, the organization will receive login credentials to operate the system effectively.
These new additions are expected to further strengthen the securities market landscape and enhance the efficiency of financial transactions in Nepal.
About CDS and Clearing Limited
CDS and Clearing Limited, a company established under the company act is a company promoted by Nepal Stock Exchange Limited (NEPSE) in 2010 to provide centralized depository, clearing, and settlement services in Nepal.
The company is inaugurated on 31st March 2011. The main objective of the company is to act as a central repository for various instruments (Equity, Bonds, Warrants, etc) especially to handle securities in dematerialized form.
This organization is entrusted with the safekeeping, deposit, and withdrawal of securities certificates and transfer of ownership/rights of the said instruments.
The depository functions will be performed by the company under the securities regulations of the Securities Board of Nepal (SEBON). CDSC is a wholly owned subsidiary company of Nepal Stock Exchange Ltd. (NEPSE) which was established on 7th Poush 2067.
