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CSE Push For New Product Development


June 03, 2015 (LBO) – Sri Lanka’s Colombo Stock Exchange (CSE) said, that it is pushing for new instruments for development, as it will implement a new system soon to reduce risk.

“We have to manage our risk according to world standards,” Vajira Kulatilaka , Chairman of CSE said at the launch of annual report.

“We have assigned the task to some of the consultants, once the report is received we will act accordingly and start implementing the CCP (Central Counterparty Clearing House).

“We can start developing new products, we think that we should not wait till the systems are in place to start developing new products.”

The CSE recently signed an agreement with BTA Consulting (BTA) of the United Kingdom to provide Consultancy and Project Management services to set up a Clearing House which will act as a Central Counterparty (CCP) for settlement of securities, including shares, corporate debt, Government Securities and any other financial market instruments transacted in Sri Lanka.

“Once the risk is managed we will have more user friendly IT systems, better trading systems and better features,” Kulatilaka said.
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He said, the new products can be trade derivatives, Real Estate Investment Trusts (REITs) or Exchange Traded Funds (ETFs).
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“Sky is the limit,” Kulatilaka said.

“We will provide infrastructure for those products, so that you can go on developing any number of products.”

He said, CSE would start legal, operational and education proceedings to support new developments while strengthening staff.

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