Additional 3 Clearing Banks being appointed

February 26: CDS and Clearing has forwarded the process of adding three clearing banks as per the direction of Nepal Stock Exchange (NEPSE). The company recently invited Expression of Interest (EOI) regarding addition of clearing banks from interested companies. The EOI mentioned that the interested companies should be 'A' listed commercial banks.  

Apparently, the commercials banks with higher paid-up capital will be prioritised for the openings. The banks should have outstanding physical and technical aspects and should be a member of ASBA system as well. Moreover, such banks should also have obtained DP license, extended branch network and carried out state's transactions.

The additional clearing banks are being appointed after the amendment of Securities Transaction Clearing and Settlement By-Laws, 2073 by Securities Board of Nepal (SEBON).