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| Wednesday, 22 October 2003 |
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CSE upgrades web site further to meet increased demand Interest in the Colombo Stock Market by investors has led to an overwhelming hit rate on the CSE web site. Since live information content was launched on August 12, there were 3.5 million hits for the first three weeks and for September 2003 this increased to 6.5 million. The rise in the number of hits and people accessing the site prompted the CSE to increase its capacity of web servers on a priority basis. The web server capacities were increased on October 20, 2003 and the CSE is at present working with its web technology providers M/s Affno (Pvt) Ltd and the web hosting company Sri Lanka Telecom (SLT) to further increase its web server capacities in order to meet the future increased demand. During September 2003 on an average the CSE web site received 216,667 hits. The average visit length per person is approx 47 minutes. The scope and the range of the www.cse.lk is that approximately 44% is Sri Lankan in origin while the balance of approximately 56% comes from all over the world. The most active international visitor country is the United States. Visitors from the United States accounts for 31% of the total number of visitors, followed by the United Kingdom, the United Arab Emirates and Australia. The USA contingent is also responsible for the most downloads from the website - approximately 64% of total downloads. Approximately 20% of visitors to the section of the site where files can be downloaded over the period of the analysis has chosen to utilise the CSE brochure's Sinhala version. This suggests that there exists a strong Sinhala literate customer base for the services that the web site offers. The CSE is planning to introduce the daily share price list on the web in Sinhala and Tamil as well. These downloads are popular as active content is stored in the CSE web site comprising downloadable versions of the profile of listed companies, the Sinhala language option of the CSE brochure, the CSE fact book, trading and market statistics, the CSE annual report 2002, and the listing rules and other regulations of the CSE . The CSE will commence publishing all the quarterly reports of listed companies on the web site no sooner they are released to the market. This information will be freely accessible. In addition to this the CSE will also introduce a data base of trading statistics of all listed companies. This will provide listed companies a convenient method to access their company trading information. These upgrades will come into effect from this month. The Colombo Stock Exchange - www.cse.lk - is a company limited by guarantee and established under the Companies Act No. 17 of 1982. The CSE took over the Stock Market in 1985 from the Colombo Share Brokers Association. It currently has a membership of 15 institutions, all of which are licensed to operate as stockbrokers. Since it commenced operations the CSE has initiated a number of measures to improve the market's infrastructure and regulatory framework to facilitate an orderly and fair market. To date, the exchange has 240 listed companies, representing 20 business sectors with a market capitalisation of over 335 billion rupees (over US $ 3.4 billion), which correspond to approximately 12% of the country's GDP. The CSE is also a member of the World Federation of Exchanges (WFE) and a member of the South Asian Federation of Exchanges (SAFE). It has recently also been highlighted by Fortune Magazine in its September edition as the second best Emerging Markets stock exchange in the world. |
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