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| Wednesday, 4 August 2004 |
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Five stockbroker firms for CSE Jaffna branch Five stockbroker firms have confirmed their participation to carry out trading at the Colombo Stock Exchange (CSE) branch in Jaffna which is scheduled to be opened in the latter part of next month. HNB, Asha Phillip Securities and D.P. Global Securities would deal with equity business while Bartleet Mallroy will go for equity and debt securities marketing. Capital Alliance Holdings is also expected to be only in debt security sector. Senior Manager Marketing (CSE) Rajeeva Bandaranaike said that trading at the Jaffna branch would be linked on line with the Colombo Stock Exchange and other branches and those recruited from Jaffna for the purpose are currently undergoing training at the Colombo Bourse. "We have successfully concluded our road show and there was wide acclaim from people in Jaffna towards our presence in Jaffna. Capital gains are the preferred pick for the small group of investors in Jaffna", Bandaranaike said. The investment centre concept has worked for the Stock Exchange, with two branches already operating outside Colombo, the first in Matara and more recently in Kandy. The concept has helped disseminate information faster and allows investors to track the market in real time, giving them the opportunity to participate in market trends as they happen. Industry analysts said Jaffna has the maturity to absorb capital market instruments and has also the funds to back it. (SP) |
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