Market Watch
Nepse signs pact for CDS software
Published by Octron on September 13, 2010
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Nepal Stock Exchange (Nepse) and CMC Limited, India, Sunday signed an agreement for the development of software for Central Depository System (CDS) and Clearing and Settlement System (CSS).
Shankar Man Singh, general manager of Nepse, and C D Deshpande, head of Delivery Centre of Western Region under CMC Limited, inked the pact on behalf of their respective organizations.
Government of India is extending assistance worth Rs 80 million under its technical assistance for the development and implementation of the required software.
“The selected vendor, CMC India, will develop, implement and hand over the system to Nepse. CMC India is already working on the project as per the Letter of Intent issued by Nepse on May 6,” Nepse said in a statement.
A subsidiary of TATA Group, CMC Limited India is SEI CMM Level V certified company which has highest capability rating towards software application development and implementation, the statement added.
The company has developed depositary software for Central Depository Services India Limited (CDSL) in India and Central Depository Bangladesh Limited in Bangladesh.
Source: Republica
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