December 28: Nepal Stock Exchange (NEPSE) has sent 41 broker companies interested to open branches in 15 cities outside Kathmandu Valley to Securities Board of Nepal (SEBON). NEPSE sent the broker companies to SEBON to carry out further procedure and to obtain approval. NEPSE organising a press conference detailed about the matter on December 27. "24 out of 50 active securities broker companies have applied for the opening of branches," said Sita Ram Thapaliya, General Manager of NEPSE.

The broker companies are seeking to open branches in Bhaktapur, Biratnager, Itahari, Damak, Dharan, Bharatpur, Banepa, Butwal, Baglung, Besishahar, Birgunj, Birtamod, Hetauda, Mahendranagar, Nepalgunj and Pokhara.

The research committee formed for the improvement of securities market recommended immediate approval to the brokers for their branch openings. Based on the recommendation, NEPSE has appealed SEBON regarding the matter. According to NEPSE, it received correspondence detailing the locations for the opening of the branches from Brokers Association of Nepal on behalf of its member brokers, thus, has written SEBON accordingly.