CSE invites foreign trading members

The Colombo Stock Exchange (CSE) has invited applications from Stock Brokers and Investment Banks operating outside Sri Lanka to apply to the CSE to be admitted as Trading Members.

The CSE has a membership of 15 firms.

In November 2006, five new Stock Broker firms were granted membership in the CSE, to operate as Trading Members of the Exchange, licensed to deal in Equity and Debt securities. The CSE has been one of the best performing markets in the Asian region since 2001.

As part of the CSE's strategy to broadbase the Stock Market, the Board of Directors has decided to admit a limited number of Trading Members, affiliated to a Stock Broking Company or Investment Bank operating outside Sri Lanka, aimed at attracting foreign investors to the Colombo Stock Market.

The prospective Trading Member must be a company incorporated in Sri Lanka with at least 75% of the equity of the company held by a Stock Broking Company/Investment Bank operating outside Sri Lanka, licensed or registered by a regulator in the country of operation or a holding/subsidiary company of such Stock Broking Company/Investment Bank. Trading Members would be permitted to transact in equity and debt securities traded on the CSE.

Commencement of trading operations will be subject to the Trading Member obtaining a licence from the Securities and Exchange Commission of Sri Lanka.