Jaffna public hails new CSE branch

By Shirajiv SIRIMANE

Business Development Manager, CSE, Thushara Jayaratne said that this is something that the Jaffna business community had been requesting for a long period.

The opening of the CSE Jaffna branch will increase investment opportunities in the region. Picture shows busy trading at the Jaffna market. Pic. Shirajiv Sirimane

The Chairman of the Colombo Stock Exchange (CSE), Nihal Fonseka declared open the fifth branch office of the CSE in Jaffna in the presence of Udayasri Kariyawasam, Chairman of the Securities and Exchange Commission of Sri Lanka (SEC), the Director General of the SEC, Chairmen and CEOs of Stockbroker Firms and other guests. “After the opening there have been many new investors and this is very encouraging,” he said.

The Chairman of the CSE, in his address at the opening ceremony, said that the government, the SEC and the CSE are all very keen that the people of the Northern Province get the chance to share in the peace dividend which is already benefiting the country, with much more benefits expected to accrue in the future.

Six Stockbroker firms commenced operations at the CSE Jaffna branch, namely, Bartleet Mallory Stockbrokers (Pvt) Ltd., Asha Phillip Securities Ltd., Lanka Securities (Pvt) Ltd., Capital TRUST Securities (Pvt) Ltd., SKM Lanka Holdings (Pvt) Ltd, and SMB Securities (Pvt) Ltd. These firms offer clients access to online trading, real-time market information, research reports and investment advice.

Capital Alliance Securities (Pvt) Ltd and Asia Securities (Pvt) Ltd operate branch outlets outside the CSE premises.

The CSE branch in Jaffna will also be instrumental in conducting continuous educational programs in the region so as to equip its investors in Jaffna and the Northern Province with the necessary knowledge to participate actively and prudently in share trading.

An official of the Yalpanam Chamber of Commerce said that opening the CSE will stimulate economic growth in the area.

It will also bring out a new breed of businessmen who would be dealing with the stocks,” he said.

The CSE was named the second best performing Stock Market globally for 2009.