CSE, market intermediaries successfully operate stock market remotely 

The Colombo Stock Exchange (CSE) and market intermediaries operated normally on Monday but completely based on remote functionality amidst a curfew in Fort (where the stock exchange is located) with its offices and those of several market intermediary firms being located in areas subject to quarantine curfew. 

Following the digitalization of the CSE preparatory exercises were carried out as a part of regular business continuity processes (BCP) along with stock broker firms to ensure the ability to conduct market operations remotely. As an industry a concentrated effort has been made to enhance the processes and technology in order to ensure the smooth functionality of the stock market, the CSE said on Monday at the end of trading.

“The CSE and broking firms are satisfied with the outcome of the BCP exercises which is a clear indication of the robustness of our systems and its ability to continue uninterrupted stock market operations. Our teams follow a process of contingency planning and are geared to ensure that all functions can be performed in the event of any unforeseen circumstances,” it said. 

The successful remote functionality of Monday’s trading is a clear indication that as an industry the business continuity process of the stock market is dynamic and stakeholders could expect uninterrupted functionality and operation of the stock market.