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| Sunday, 10 July 2005 |
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| News Business Features Editorial
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CSE performs extremely well this year - Chairman by Hiran H. Senewiratne The Colombo Stock Exchange (CSE) has performed extremely well this year despite the political uncertainty in the country, its Chairman Eraj Wijesinghe said. "This year the CSE is continuing to record a growth of 30 per cent and has recorded the highest point on the index. It also recorded the highest volumes of trading," Wijesinghe told the launch of the CSE's new logo on Wednesday. He said that the market does not crash when there is adverse news or political uncertainty, yet the CSE is dubbed as one of the fastest growing markets in the world. The CSE is the most active place in the country and even the world. It is for this reason that the directors of the CSE decided that it is time to re-launch the CSE and market the stock exchange, he said. However, taking into account the continuous high level of performance of the market there was a need to build and preserve the CSE image, he said. Wijesinghe said the logo "Triaxial Ribbon" represents the key attributes of the CSE: the energy and dedication with which we work to create wealth for all Sri Lankans; the responsibility we feel towards all stakeholders, which derives from empathy and the diligence and purposefulness with which we discharge the vital office of regulator. CSE Director General Hiran Mendis said that expanding the branch network and the use of the Internet for trading by some of our members offer better access to rural investors. He said the CSE also intends to expand its membership through admitting trading members who could be both brokers and dealers. Mendis said that their technology partner MIT is at present working on a system to improve securities, borrowing and lending in their system. Chairman Securities and Exchange Commission Dr. Dayanath Jayasuriya said that capital markets around the world are going through a major transition. He said that new opportunities and new challenges are emerging in stock exchanges in many countries, which need to be faced by recognition in terms of their governance structure, operational modalities, market reach, availability of new products and services and networking with other exchanges within as well as outside geographical boundaries. He said that Stock market participants in Singapore and Australia, for instance, can now trade in either market using their currency. The Internet for instance has unleashed hitherto untapped resources. |
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