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Sydney, Colombo Stock Exchange ink MoU

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21st-Mar-2017       Readers ( 87 )   0 Comments
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Xinhua, Canberra :
Sydney Stock Exchange (SSX) and Colombo Stock Exchange (CSE) signed a Memorandum of Understanding (MoU) to broaden mutual understanding and create new links between Australian and Sri Lankan businesses and capital markets.
SSX and CSE are committed to the growth of their economies, especially in the environment of globalization and internationalization of capital markets. This agreement is intended to foster greater communication between both firms through staff exchange, training and the sharing of information relating to market development and dual listing opportunities.
Tony Sacre, CEO of SSX, said the collaboration between SSX and CSE will "ensure an active and efficient market as well as enhancing the confidence and integrity of capital markets between Australia and Sri Lanka."
"This is a good story, as our mission is to solidify a connection between Australian and Asian markets and the rest of the world. Sri Lanka has been an important trading partner for Australia, and this bond is a strong sign of the relationship only continuing to improve," he said.
SSX and CSE will explore the possibility of collaborating regarding cross listing and trading of securities including stocks, bonds, ETFs etc.
Vajira Kulatilaka, chairman of CSE, said the MoU marks an important development for the CSE, as CSE is looking to improve its avenues for cooperation and mutual development with peer international exchanges.
"Our countries share a long history of economic cooperation and we are pleased at the prospect of working with the SSX to broaden investment opportunities for market participants both back home in Sri Lanka and here in Australia."
Sydney Stock Exchange, originally Australian Pacific Exchange, is a part of the APX Exchange Group, a wholly owned subsidiary of the AIMS Financial Group, an Australian diversified financial services and investment group.
Established in 1958, CSE operates the only stock market in Sri Lanka. More than 300 companies are listed in CSE.

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