Market briefing · as of November 2026
Five forces are pushing Nepal’s brokers to upgrade at once.
About 90 SEBON-registered brokers and 2 stock dealers serve every investor on NEPSE. In 2026 each of them faces new licences, new capital rules, new onboarding rules and harder questions about reliability, while commission per trade keeps shrinking.
The forces
What changed, and what it demands from technology
- 01
Margin trading has arrived
NEPSE began licensing brokers for margin trading in fiscal 2082/83. By mid-June 2026, 31 brokers held a licence and 24 more had letters of intent. Lending against shares needs collateral valuation, loan-to-value limits and margin calls that run on every price move.
31 + 24
licensed, plus letters of intent
- 02
Capital rules are forcing consolidation
The September 2022 rules raised minimum capital tenfold or more. About 22 to 23 firms were short when the July 2025 deadline arrived; SEBON extended it to the end of Chaitra 2082 and opened a path to merge. Every merger means two client books moving onto one system.
22–23
firms short of capital, July 2025
- 03
Brokers may run their own trading system
Since June 2022, a broker may use its own trading system if NEPSE approves it. It needs two technical staff and pays NEPSE Rs 35,000 a month for the connection, and may charge clients up to Rs 100 a year. 34 brokers applied to do so.
Source: sharesansar.comSource: myrepublica.nagariknetwork.com
34
brokers applied for their own TMS
- 04
Reliability is now a board-level issue
On 25 January 2026, a malfunction in one vendor's trading system blocked 13 brokers from trading on a day the market rose 2.12%. Monitoring, backups and a clear service commitment are no longer optional.
13
brokers unable to trade, 25 Jan 2026
- 05
Onboarding must capture national ID
Since 3 August 2025, new trading accounts need the national ID card or NID number, and NEPSE told brokers running their own systems to build it in. Paper and spreadsheet onboarding cannot keep up.
Aug 2025
national ID required for new accounts
Capital tiers
Minimum paid-up capital since the September 2022 rules
Bars are drawn to scale against the stock-dealer threshold.
Limited-function broker
Brokerage of listed securities
Full-function broker
Adds margin trading, depository services, advisory and investment management
Stock dealer
Dealing for its own account
Commission
Each trade earns a little less
SEBON's cap since 14 May 2024 (a cut of about 10% from the previous schedule). Lower revenue per trade means more clients per staff member, which is a technology problem.
What it means
The layer around the trading system is where brokers win or lose clients
Clients want visibility
Settlement status, ledgers and payouts on their phone, instead of a phone call to the branch.
Risk desks need controls
Margin lending without real-time collateral and limits is a risk no board should accept.
Operations must scale
Thinner commission and mergers mean more clients per person: onboarding, support and the back office have to be digital.
Sources
Where these facts come from
- ShareSansar: rules for brokers running their own TMS (27 June 2022)
- Republica: 34 stockbrokers apply for their own TMS
- ShareSansar: TMS malfunction blocks 13 brokers (25 January 2026)
- ICT Frame: national ID required for stock trading (3 August 2025)
- SEBON stock broker register, NEPSE notices and ShareSansar, Republica, Khabarhub and NepseTrading coverage of capital tiers, the capital deadline, margin licences and the May 2024 commission schedule, compiled November 2026.
Figures change as SEBON and NEPSE issue new notices; confirm anything you rely on at sebon.gov.np or nepalstock.com.
Turn these changes into an advantage.
Book a 30-minute walkthrough. We show the client app, portal and back office on sample data, and talk through what your firm needs first.