“In the global capital market arena, on which we function, the efficient and robust functioning of central securities depositories is fundamental to the efficient functioning of securities markets. In fact it is the backbone of the securities market,” Chairman of the Colombo Stock Exchange (CSE) and Central Depository Systems (Pvt) Ltd (CDS) (a fully owned subsidiary of the CSE) Vajira Kulatilaka said yesterday.
“As a key pillar of the Capital market services infrastructure, central depositories are providing more than a supportive role to the global financial market; depositories now use innovative forms of technology to increase efficiency minimize risk and reduce costs in order to support investors and market intermediaries and is responsible for ensuring the safety of customer assets,” he added.
The ACG Cross Training Seminar is being hosted by the CDS on the 12th and 13th of May in Colombo. This is the first time the CDS is hosting the Cross Training Seminar and the event saw the participation of 95 representatives from depositories across the region, the highest number of participants seen at an ACG event.
CDS obtained membership in the Asia-Pacific Central Securities Depository Group in 1998. The CDS is also a member of the Technical Task Force of the ACG and works closely with the National Securities Depository Ltd. of India, which is the convener of the Technical Task Force.
Courtesy : Daily News 13 May 2015