SMB Securities begins equity and debt trading
SMB Securities, the latest debt and equity broker to be licensed by
the Colombo Stock Exchange (CSE), commenced operations in Colombo last
week with a pledge to promote trading in rural areas.
The company will offer clients advice and information on debt and
equity trading and will also enable them to trade directly on the CSE.
SMB Securities has been granted Trading Membership from the CSE for
equity and debt trading and will give its clients an opportunity to
maximise their portfolio returns, the company said.
Speaking at the opening of the office the Chief Guest, Director
General of the Securities and Exchange Commission, Channa de Silva, said
the equity and debt market in Sri Lanka is tiny compared to others in
the region and more intermediaries are needed to develop it. "The entry
of SMB Securities adds strength to this argument and we are confident
the company will bring in much needed investment to the country," he
said.
The CEO of the Colombo Stock Exchange, Ms. Sureka Sellahewa said that
one of the goals of the CSE was to reach out to people who do not know
about the Stock Exchange.
"The entrance of SMB Securities to the market and its promise to
reach out to those in rural areas will greatly help us achieve this
goal," she said.
The company will aggressively promote its services in rural areas,
providing investors in some outstation regions an opportunity to
experience the stock exchange for the first time. The Deputy Chairman of
SMB Securities (Pvt) Ltd. Rohan Senanayake said that SMB Securities will
focus on five key areas during its operations.
"We will be strongly looking at taking the equity and debt market to
the grassroots level, promoting global development of equity and debt,
carrying out research, providing accurate, reliable information to
customers and building professionalism in these markets.
This will greatly assist in developing these markets and have a
positive impact on the sector," he said
Operations will initially be carried out from the company's Colombo
office but will soon be expanded to cover other parts of the island. |