Deputy Minister of Policy Planning and Economic Affairs Dr. Harsha De Silva and Chairman of the Securities and Exchange Commission Thilak Karunaratne, made their first visits to the CSE following their appointments.
The Bell Ringing Ceremony, to signify the Opening of Trading for the Day at 09.30 am takes place from the purpose built platform on the trading floor. The CSE, in keeping with the tradition followed by many Exchanges globally, opens trading with the formal bell ringing ceremony on the first day of trading of a new listing or during the visit of notable persons to the Exchange.
Chairman of the Colombo Stock Exchange Vajira Kulatilaka and Members of the Board of Directors of the Colombo Stock Exchange, Acting Director General/ Officer-in-Charge of the SEC Dhammika Perera and Chief Executive Officers of Member Firms and Trading Members of the CSE were also present at the event.
“We as a government, want to create a country where we have a large middle class that owns shares - we hope to create an asset owning middle-class. We want people in the peripheries, the rural areas, to be able to trade in high value stocks as well and we want people to trade in corporate debt. Our objective is to broad base the activity of the Exchange, not just to Colombo but to the rural areas. The government is committed to create a highly competitive social-market-economy, this economy will be built on two pillars –firstly competition and secondly justice. When we say justice we mean economic, political and social justice,”Deputy Minister of Policy Planning and Economic Affairs Dr. Harsha De Silva said.
“Our common objective is to see a well regulated capital market, where all the investors get a fair deal.
We are now working on improving any weak areas and perhaps bring in more amendments to our act, which will give us more strength and teeth to correct any shortcomings, in the Capital Market and hope to work closely with the Colombo Stock Exchange,” Chairman of the Securities and Exchange Commission Thilak Karunaratne said.
“We have a close relationship with the Malaysian Capital Market and we look forward to doing more with them, especially in terms of technology transfers with Bursa Malaysia. Currently our team of consultants on the Central Counter Party (CCP) system being developed, includes experts who were instrumental in the development of the CCP system at Bursa Malaysia.” Chairman of the CSE Vajira Kulatilaka said.
The Special Envoy (Ministerial rank) to India and South Asia on Infrastructure, Prime Minister’s Department, Government of Malaysia Dato’ Seri Utama S. Samy Vellu, conveyed to a CSE Official that during his visit to Sri Lanka he had explored the possibilities for Malaysian companies engaged in infrastructure projects to invest in Sri Lanka. He went on to explain that the Sri Lankan Capital Market would benefit from large infrastructure projects, which would seek to raise capital through the Stock Exchange, similar to the experience of Bursa Malaysia.