Exchanging the agreement |
HSBC recently entered into an agreement with the Central Depository System Pvt Ltd (CDS), a wholly owned subsidiary of the Colombo Stock Exchange (CSE), following HSBC's appointment as a Settlement Bank of Central Depository System Pvt Ltd.
HSBC is the only foreign bank to be appointed by CDS, to facilitate the latter's move towards a multiple bank settlement system, the bank said.
The agreements were exchanged between Chamira Wijetilleke, Head of Corporate Banking for HSBC Sri Lanka and Nihal Fonseka, Chairman of the CSE.
As a Settlement Bank, HSBC will be responsible for facilitating the settlement process relating to trades on the Colombo Stock Exchange between the CDS and the accounts of CDS participants who have opted to settle through HSBC. |
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