Teaming up with SAFE, a positive step for CSE

Working with global financial markets:

Capital markets around the world are witnessing on-going change which creates new opportunities and new challenges. The members of South Asian Federation of Exchanges (SAFE) should engage in a conscious effort to achieve fairness, efficiency, transparency and protection for stakeholders, Chairman of the Colombo Stock Exchange (CSE), Vajira Kulatilaka said.

Kulatilaka was speaking at the 4th SAFE Executive Committee Board Meeting and Ideas Workshop in Mumbai.

Leaders representing capital markets across South Asia discussed the vision and direction of the Federation’s future.

Sri Lanka took up the chairmanship of the SAFE Secretariat in 2015, and spearheaded the culmination of ‘SAFE Vision 2025’, which hopes to encompass the future direction of SAFE.

The vision deals with a number of areas that are vital to develop the capital markets in the region, including improving financial literacy, co-operation among member exchanges and cross border financial trade. Chairman CSE, in his capacity as the Chairman of SAFE chaired the meeting.

“Vision 2025 provides us an opportunity to realistically achieve this and the collaboration of capital market officials across the region is vital,” he said.

Joining SAFE has been a positive step in CSE’s bid to collaboratively work with the global financial market and other exchanges.

He said, “The Federation has paved the way for collaboration with individual exchanges in the region and has given the CSE an opportunity to join the all-important dialogue on how we can formulate a regional strategy to elevate our member exchanges.”

SAFE is a forum of Stock Exchanges in South Asia and aims to foster collaboration and co-operation among its members to develop their capital markets. At present SAFE has 15 primary members comprising stock and commodity exchanges from India, Pakistan, Bangladesh, Sri Lanka, Nepal, the Maldives, Mauritius, Bhutan and the UAE. It also has several depositories and clearing houses in the region as Associate Members.