Second phase of Colombo Stock Exchange digitalization process commenced

The second phase of the Colombo Stock Exchange digitalization process was launched recently at the Presidential Secretariat under the patronage of President Gotabaya Rajapaksa.

The Securities and Exchange Commission of Sri Lanka (SEC) along with the Colombo Stock Exchange (CSE) commenced the digital advancement in Sri Lanka’s capital market with the launch of the first phase of the digitalization of the Stock Market in last September and it was intended to ensure uninterrupted access, facilitate investor participation, enhance operational efficiencies and service standards in the capital market.

The stock market authority said that following the digitalization of the capital market, more than 65,000 new investors have entered the market and 17,000 new Central Depository (CDS) accounts have been opened with the capability to swiftly download the stock market information, according to President Media Division (PMD).

With digitalization, investors will be able to make transactions in Sinhala, Tamil or English from anywhere in the world, receive monthly publications, exchange and modify information, as well as to open accounts for local companies.

Secretary to President P.B. Jayasundera, Chairman of the Securities and Exchange Commission Viraj Dayaratne PC, Chairman of the Colombo Stock Exchange Dumith Fernando and other members of the Board of Directors were also present.