KATHMANDU, OCT 13 - 2012
The Central Depository System and Clearing Limited (CDSCL) is all set to codify the shares listed on the Nepal Stock Exchange (Nepse) under the International Securities Identification Numbering System (ISIN).
The standard provides a uniform structure for a number, known as lSIN, which uniquely identifies securities. The unique code will enable the identification and recognition of certain shares as belonged to a certain company internationally. The existing coding system at Nepse is not recognised internationally.
Following the Securities Board of Nepal (Sebon) directed CDSCL to keep identity of shares with ISIN after the regulator became a member of the Association of National Numbering Agencies (ANNA), CDSCL is working on codifying shares as per the new system.
CDSCL has also asked Nepse to send shares registration details, including of those shares that have been registered as promoter’s shares. Nepse keeps identity of promoter and pubic shares differently. “We will complete codifying with ISIN within a week after Nepse gives us the details,’ said CDSCL Chief Executive Officer Subodh Sharma Sigdel.
As per the ISIN system, Nepal’s unique identification code is ‘np’ and the shares are codified with initial ‘np’ followed by other numbers and syllables. “The move is aimed at ensuring infrastructure as per international practice,” he said.
The identification of shares with ISIN is expected to encourage more Non-Resident Nepalese to invest in Nepal. “ISIN codification will ensure reliability of shares with internationally recognised unique number,” said Sigel.
Source: The Kathmandu Post
The Central Depository System and Clearing Limited (CDSCL) is all set to codify the shares listed on the Nepal Stock Exchange (Nepse) under the International Securities Identification Numbering System (ISIN).
The standard provides a uniform structure for a number, known as lSIN, which uniquely identifies securities. The unique code will enable the identification and recognition of certain shares as belonged to a certain company internationally. The existing coding system at Nepse is not recognised internationally.
Following the Securities Board of Nepal (Sebon) directed CDSCL to keep identity of shares with ISIN after the regulator became a member of the Association of National Numbering Agencies (ANNA), CDSCL is working on codifying shares as per the new system.
CDSCL has also asked Nepse to send shares registration details, including of those shares that have been registered as promoter’s shares. Nepse keeps identity of promoter and pubic shares differently. “We will complete codifying with ISIN within a week after Nepse gives us the details,’ said CDSCL Chief Executive Officer Subodh Sharma Sigdel.
As per the ISIN system, Nepal’s unique identification code is ‘np’ and the shares are codified with initial ‘np’ followed by other numbers and syllables. “The move is aimed at ensuring infrastructure as per international practice,” he said.
The identification of shares with ISIN is expected to encourage more Non-Resident Nepalese to invest in Nepal. “ISIN codification will ensure reliability of shares with internationally recognised unique number,” said Sigel.
Source: The Kathmandu Post
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