Colombo Stock Exchange offers online services through CDS e-connect

Aug 05, 2016 (LBO) – The Colombo Stock Exchange has launched CDS e-connect, a portal with an array of online services to Central Depository System account holders.

The CDS will match depositories from around the world in offering electronic services to account holders, a statement said. Many peer depositories in the Asian region currently provide similar facilities.

“Technology forms a vital component of the transformation process of capital markets around the world and it is important that the Sri Lankan capital market embraces the value technology offers to all stakeholders,” Renuke Wijayawardhane, chief operating officer of the CSE said.

“e-connect is yet another step in our effort to improve the infrastructure of the CDS,”

With CDS e-connect, account holders can access resources online (www.cdseconnect.lk) including transaction details, portfolio reports and past monthly statements.

For institutions such as margin providers, the ability to manage multiple user accounts through a single user ID is another key feature of this facility.

The technology for the e-connect service is provided by Millennium Information Technologies (MIT) who are a part of the London Stock Exchange Group. MIT are also the providers of the CDS system.

Nalin Fonseka, Head of CDS stated that this new online facility offers value and many technological benefits.

“It aims at bridging the gap between the CDS and account holders. e-connect will take accessing of CDS account transaction details to a new level because of the accessibility through personal computers, Tablet PCs or Mobile devices,” he said.

“Especially from the perspective of the foreign investors, this would provide a platform for them to verify both their account information and portfolio information, which simplifies the process to a large extent.”

The introduction of e-connect comes at the back of a number of other value added services and improvements to the technology provided by the CDS, including the launch of SMS alerts and eStatements.

List of services offered through CDS e-connect

  • Alerts and notifications on:
  • Corporate actions due for the next market day
  • Transactions/changes of portfolio
  • Access to view all accounts registered under the client via a single user ID
  • Access to view account balances
  • Access to view transaction history for the past 6 months
  • Access to view master file data available in the CDS system
  • Access to view current monthly statement
  • Access to view monthly statements for up to 6 months
  • Request for additional monthly statements.