NEW DELHI, Sep 18: The Colombo Stock Exchange (CSE) has turned digital. The event “Hyper-Leap to Future” was unveiled by the Sri Lankan prime minister Mahinda Rajapaksa on Friday and was attended by state dignitaries, foreign missions, stockbrokers, listed companies and the business fraternity.
The event was organised jointly by the Securities and Exchange Board of Sri Lanka and the CSE. It marked the digitalization of the Sri Lankan stock market to identify measures and mechanisms required for the Colombo stock exchange to conduct its core activities digitally.
The first phase of this initiative was to convert paper-based statements to electronic form and to aid companies listed on the CSE to pay dividends electronically to shareholders. It was followed, by the launch of a new CSE Mobile APP, revamp of its websites with an easy interface that eliminates the need for an investor’s visit to CSE branch offices.
History of Sri Lanka stock market:
Sri Lanka will soon be celebrating its 125 years of a stock trade, having
commenced under the banner ‘Colombo Share Brokers Association’ (CBSA) in 1896.
1904 – Underwent a reputation change to Colombo Brokers Association (CBA).
1984 – The opening of a public floor on the “open outcry system”.
1985 – Opened the second trading floor and amalgamation of the CBA with the Stock Brokers Association to constitute the Colombo Securities Exchange (GTE) Ltd.
1986 – GTE Ltd. became a corresponding member of the International Federation of Stock exchanges (FIBV).
1990 – GTE Ltd name changed to Colombo stock exchange.
From 2003 till 2016 it opened various regional offices in Kandy, Kurunegala, Negombo, Jaffna Anuradhapuram, Hambantota Ratnapura and Ambalantota.
(Venkatesh Iyer)
