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| Sunday, 6 July 2003 |
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| News Business Features Editorial
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CSE now accessible from anywhere in the world by Pelham Juriansz Investor Access Asia (IAA) broke new ground recently by implementing technology that makes the Colombo Stock Exchange (CSE) accessible to investors anywhere in the world. It provided the first seamless Internet trading system for stockbroking houses in the country. IAA will provide software at brokerage houses to expand the existing number of trading portals via a direct feed from the broker's CSE terminal. The IAA CDAX (Colombo Direct Access eXchange) system is aimed at advancing the development of electronic trading on the CSE by making the Exchange completely accessible to investors. Addressing a media briefing, Asanga Seneviratne, Managing Director IAA said: "Investors can watch stock movements on the CSE on their personal computer from anywhere in the world, be it from a laptop at Unawatuna beach or an investment bank in New York. "Most importantly, clients will be able to trade on the CSE themselves, because IAA technology gives brokers the ability to bestow discretionary powers on their clients to execute trading over the Internet or via mobile phones". IAA also launched its website from which clients of brokerage houses registered to use CDAX may download the software to monitor the CSE on-line. HSenid, MTN Networks, Efutures and Refco Group are associated with advancing the IAA technology initiative. Seneviratne said IAA provides Integrated Market Approach technology to advance trading of worldwide electronic markets. The concept of Integrated Internet Trading is of immeasurable advantage to brokerage houses, allowing overseas clients access to the live market, while granting brokers the ability to bestow clients with trading powers at their discretion. Hans Wijayasuriya, CEO of MTN Networks (operator of Dialog GSM) said IAA technology further enhances investor accessibility to the live market through the provision of Short Messaging Services (SMS) trading facilities. The partnership between IAA and Dialog GSM has made this possible. |
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