KATHMANDU, MAR 18 – The Nepal Stock Exchange (Nepse) has signed an agreement with international financial analysis company Bloomberg under which it will examine and disseminate information about Nepalâ€™s stock market.
Nepse and Bloomberg signed a memorandum of understanding of the deal on Monday. Nepse General Manager Sitaram Thapaliya and Bloombergâ€™s representative in Nepal Jennifer Cole signed the agreement.
Nepse said in a press statement that it would make available its data to Bloomberg which would analyze it using financial software tools and publish the results on its website. â€œThe memorandum has been effective from today, and I hope Bloomberg will start publishing Nepalâ€™s data within a week,â€ said Thapaliya. He added that Nepse would not pay Bloomberg any fee for dissemination of information and analysis of data. â€œIt approached us after its clients asked for information about Nepalâ€™s share market too,â€ he added. Bloomberg has more than 315,000 users.
Thapaliya said that Bloombergâ€™s financial analysis of domestic companies would help investors make the correct decision as it is considered to be credible. Nepse said that it would help attract international investors to Nepalâ€™s stock market.
â€œAt a time when the government has adopted a policy of attracting foreign investors to Nepalâ€™s capital market, the agreement with Bloomberg will draw their attention to our share market,â€ said Thapaliya. â€œBloombergâ€™s clients asking it to include information about the Nepali market suggests that there are international investors interested in it.â€ This is the first time that Nepse has signed an agreement with international institutions that analyse the financial statements of listed companies.
The memorandum does not mention any time limit when it remains effective. However, either of the two sides can terminate the agreement by giving 120 daysâ€™ notice, according to Thapalia. Nepse said that Bloomberg had also promised to make available its resource persons when Nepse conducts training programmes.