Colombo Stock Exchange completes its 35th year

The licensed operator of the Sri Lankan stock market, the Colombo Stock Exchange (CSE) marked a historic milestone last week when it completed its 35th year.

Given the entrepreneurial spirit of the Sri Lankan people, the Colombo Stock Exchange builds on a share trading tradition that has existed in Sri Lanka for over a century. The business of share trading that commenced with plantation companies in 1896 continues to thrive today as a matured and vibrant stock market that mobilizes capital flows of over Rs. 300 billion a year.

The CSE in its present form was incorporated in 1985 and formed by seven (7) Stock Broker Firms as the Colombo Securities Exchange Guarantee Ltd, a company Limited by Guarantee marking a transformative shift in Sri Lanka’s financial services landscape.

The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and offers state-of-the art pre-trade, trade and post-trade platforms supported by a network of Stock Broker Firms which offer end-to-end digitalized trading solutions to a diversified pool of over 700,000 individual and institutional investors. A progressive journey with the combined efforts of all stakeholders has paved the way for many decisive and positive outcomes for the Sri Lankan capital market over the past 35 years.

The CSE has also been an active contributor in the international arena as a member of the World Federation of Exchanges and has on multiple occasions held the Chairmanship of the South Asian Federation of Exchanges, shaping capital market development policy and cooperation in the South Asian Region.

A bell ringing ceremony was organized on 3rd December 2020 to mark the occasion which was delivered to an audience that was 100% online, a first-of-its-kind event for bell ringing ceremonies at CSE considering the guidelines issued by health authorities to prevent the spread of COVID-19. The ceremony was organized on the theme ‘A Transformative past – A Vibrant Future’ and is a part of a series of initiatives organized by the CSE to mark the milestone.

Ajit Jayaratne a past chairman of the CSE and one of the Board members when the CSE was incorporated in its present form was the special guest at the event. Sharing his remarks Jayaratne commended the leadership of the Exchange and recognized the untiring efforts of all those who worked towards building the Stock Market to what it is today. He offered a unique perspective on the history of the CSE and shared memories of the transformative journey.

Commenting on the milestone, the Chairman of the CSE Dumith Fernando said “After 35 years of operations of the stock exchange we have leveraged on the combined expertise and experience of the industry to leap frog on multiple fronts. As we look towards a possible re-rating of the market upwards, what is on the cards are major market infrastructure developments, Product Diversification, widening of the investor base, building a sustainable business model and more importantly working with the Government and the regulator to position the CSE as a pivotal point for capital raising.”