The Securities Board of Nepal (SEBON) has directed the Nepal Stock Exchange (NEPSE) to investigate the technical problem that forced the suspension of regular trading and submit a report with measures to prevent similar disruptions.
A technical fault occurred on September 20 at a data centre hosting the servers of 72 of the 92 securities brokerage companies. As the problem could not be resolved immediately, NEPSE suspended regular trading on September 21 to prevent potential damage to its trading system.
SEBON spokesperson Niranjaya Ghimire said NEPSE had been instructed to investigate the incident and submit a report by September 28, including recommendations for corrective measures.
SEBON has also deployed a five-member inspection team led by a deputy executive director to examine the technical aspects of the incident. The team will assess the data centre fault, its impact and the potential risks posed to the trading system.
Earlier, the Stock Brokers Association of Nepal had requested NEPSE to suspend regular trading until the data centre problem was resolved. NEPSE said the trading halt was implemented under Rule 21(1) of the Securities Listing and Trading Regulations, 2018.
SEBON said the findings and recommendations of the inspection team would be used to introduce reforms aimed at improving the safety, reliability and transparency of Nepal’s securities market.
