The Colombo Stock Exchange is going ahead with the launch of its new Debt Trading Board in June with or without access to the primary market for government debt.
The exchange, which has been doing mock runs on the new debt trading system the DEX, says a new proposal to sort out an impasse with the Central Bank is also being discussed.
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rnThe Colombo Stock Exchange is however keen to get access to the Primary Market for government debt.rn
rnExchange officials say that access to the Primary Market is important to for individual investors to get a good yield. rn
rnldblquote We believe that the debt trading system will encourage an average person to have access to government securities. Because the debt trading system can be supported by through the Internet and it can be accessed by the branches of the exchange,
dblquote says Hiran Mendis, Director General, Colombo Stock Exchange.
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rnThe availability of government debt as an instrument will also enable brokers to offer a wider selection of services to clients taking them a step closer to becoming universal brokers.rn
rnldblquote DEX has been extensively tested by the exchange. The members of the SEC will be able to trade equity and debt instruments.
It is a move in the correct direct direction, dblquote says Mendis.
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