CSE gets opening bell from Bansei Securities

Bansei Securities of Japan has gifted the Colombo Stock Exchange (CSE) a new opening bell. The presentation coincided with the listing of Bansei Royal Resorts Hikkaduwa on the Diri Savi Board of the CSE.

Bansei Securities is a long established securities company operating in Japan and will be a 39 percent shareholder of Bansei Royal Resorts, Hikkaduwa.

The company has been trading equity, government debt and corporate debt since July 2012 having been introduced to Sri Lanka by NWS Holdings (Pvt) Ltd.

Bansei Securities has invested over Rs. 20 billion in Sri Lanka, in equity and debt, in addition to being a 15 percent shareholder of Pan Asia Bank and operating Bansei Securities Finance (Pvt) Ltd, a local margin trading company. "Sri Lanka and Japan have had a longstanding friendship that encompasses economic, social and cultural cooperation.

As a prudent investor in overseas markets we believe that Sri Lanka is an ideal location for Japanese companies to channel their funds to reap fruitful rewards, which are mutually beneficial," Bansei Securities President Toyohiko Murakami said.

A new opening bell, is part of the CSE's efforts to reinstate the traditions of the Stock Exchanges of old with a more transparent viewing gallery and renewed efforts to attract visitors to the trading floor. The CSE anticipates that this open approach will revamp the public's perception of the Stock Exchange, to view it as a place of tradition while also seeing it as an approachable avenue for investment. With the advent of electronic trading, the tradition of ringing an opening bell at the start of the trading day has declined, however some exchanges, most notably the New York Stock Exchange (NYSE) continue the tradition.