Nepal Stock Exchange Selects COMDAQ |
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By: James Dyson Posted: 2006-11-10 21:40:13 |
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Following an International Competitive Tender, the Nepal Stock Exchange signed a Contract for the provision of a COMDAQ CTS (Computerised Trading System) to replace their 'Open Outcry' exchange.
The Bid Process was managed by Aries Consultancy and financially supported through a loan provided by the Asian Development Bank. The adoption of this leading edge technology will allow NEPSE to provide a superior service level to Investors, Issuers and their Intermediaries whilst, at the same time, increasing their visibility and access to the International Market. The Nepalese "Big Bang" will come in March 2007. COMDAQ CTS provides an Integrated Environment that significantly lowers costs within relatively illiquid Emerging Market Exchanges, where the major need is for a country to allow its own capital exploitation to develop, building its own internal infrastructure and matching available capital with local development. COMDAQ will be supported locally in NEPAL by Mercantile Office Systems, the most respected office Automation company in Nepal, part of the 50 year old Mercantile Group of NEPAL which has diverse interest from Information Technology to Finance and Media. "We are delighted to have won this competitive bidding process and firmly believe COMDAQ can add value cost effectively with considerable process innovation which will benefit the Nepalese Market. This is a tremendous vindication of our unique software and we look forward to completing installation during the forthcoming months" commented COMDAQ Founder and Chairman Colin Howard. For further Information about this release or to see a demonstration of COMDAQ products. About COMDAQ. COMDAQ is based in UK and India and was formed in 1999 to operate the International Commodities Exchange. Through its associated India based software house, it has extended its technology to a range of Exchange applications, including in the Caribbean, and the independently owned. Its mission is to link and empower people throughout the world through its accessible technology. About Nepal Stock Exchange.The Nepal Stock Exchange traces its history back to 1937 but opened its Trading Floor in 1994 being restricted to Listed Corporate Securities and Government Bonds. There are approximately 125 companies currently quoted. About the COMDAQ CTS system: COMDAQ operates Markets in several countries world wide including installations in the Caribbean, Spain and India. Their technology is cost effective utilising internet routing and web browser access making COMDAQ the ideal solution for Emerging Markets and any other new applications wishing to take advantage of such an innovative approach. |
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