Preparation to Bring Auction Market and NRN Fund in Final Stage: CDSC Chief Sapkota
Kanchan Sapkota, Chief Executive Officer of CDS and Clearing Limited (CDSC), has said that the necessary homework for operating the auction market and bringing the NRN Fund into Nepal has been completed. Speaking at the Finance Committee, she informed that work is progressing in coordination with NEPSE and results will be seen soon. CDSC currently manages the holdings of about 8 million investors.
Kathmandu. Kanchan Sapkota, Chief Executive Officer of CDS and Clearing Limited (CDSC), has said that the necessary homework for operating the auction market and bringing the Non-Resident Nepali (NRN) Fund into Nepal has been completed. Speaking at the Finance Committee under the House of Representatives on Wednesday, Sapkota provided this information.
According to her, coordination is underway with the Nepal Stock Exchange (NEPSE) and related agencies for operating the auction market. The process has been advanced with CDSC taking responsibility for settlement and NEPSE for operation of the auction market. She stated that preparations are being made so that the results of this work will be visible soon.
Similarly, Sapkota informed that CDSC and NEPSE have already prepared the necessary preparations and action plans regarding bringing the NRN Fund into Nepal. She said that now only the results remain to be seen.
She informed that CDSC is working with priority on technology and infrastructure development to provide more effective services to investors. She emphasized that as a depository managing the holdings of about 8 million investors, CDSC must be technically strong and capable.
Stating that all necessary work will be advanced to make CDSC's service delivery more effective, Sapkota expressed the view that no compromise should be made in infrastructure development. She said that attention should also be paid to budget and necessary resource management to build excellent infrastructure according to the institution's capacity and needs.