Ceylinco Commodity Exchange set up

Sri Lanka's first indigenous commodity exchange has been set up by Ceylinco Consolidated, one of Sri Lanka's large conglomerates which has a substantial stake in all major of fields of business activities such as property development, insurance, banking, financial services, health, leisure, information technology and diamond cutting and jewellery.

Among Asian countries, Sri Lanka has been one of the few countries that did not have a commodity exchange, until Ceylinco Commodity Exchange Ltd was formed this year. The formation of the exchange is keeping in line with the vision of its Chairman Dr. Lalith Kotelawala, whose intention is to provide the nation with an invaluable gift to improve its economic well-being.

The Ceylinco Commodity Exchange will continue to enrol members who will comprise brokers, agents and representatives, who in turn would put through deals on behalf of their customers.

The Ceylinco Commodity Exchange intends delivering a package of services, which includes exchange traded contracts (ETC) for commodities such as spots and forwards, over-the-counter transactions (OTC), and also related financial services such as factoring.

The Ceylinco Commodity Exchange Ltd is currently developing a trading platform to facilitate trading in imported items such as food items, fertiliser, fuel, petroleum products, paper and building materials. These items are sourced abroad to meet local demand and as well as the requirements for other overseas markets at highly competitive rates.

Likewise for local exports of commodities such as food items, precious stones and aquarium fish the Ceylinco Commodity Exchange Ltd through its network of brokers, agents, overseas representatives, foreign missions, youth organisations such the Tharunayata Hetak and other organisations and other companies within the Ceylinco Consolidated Group with offices abroad, is continuously sourcing foreign buyers.