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Seven months after the activation of the Colombo Stock Exchange's automated debt securities trading platform (DEX), the Seylan Merchant Bank has emerged as the most active debt dealer on the exchange, accounting for the highest number of trades.

The first institution to be licenced to trade on the DEX, SMB conducted the first ever trade on the new platform in February this year.

The DEX system offers scripless trading, where all transactions are carried out electronically, eliminating paperwork and providing the investor with a secured instrument, making physical handing over of treasury bills or bond certificates unnecessary.

SMB facilitates DEX investments through its network of 16 branches with a link facility covering Colombo, Kandy, Galle, Matara and Negombo. The bank's Debt Securities Trading System SMBDEX is backed by a fully automated back office system called 'SkyDEX' developed by its software vendor OpenArc.

SMB Director/General Manager Rohan Senanayake said: "The DEX system has created a platform for the public to easily buy or sell government treasury bills or bonds, with the settlement of transactions taking place through the Central Depository System (CDS) of the CSE.

This method of trading has become popular among investors as it is considered to be default free."

"This is a great opportunity to invest in government bonds and treasury bills without any risks. Investors get higher returns and their investments are covered by a government guarantee," he added.

SMBDEX Manager Nadun Jayatilleke said: "The function of the Bank is to act as an intermediary between the Stock Exchange and the public. Advising clients on their investments on Treasury bills and Bonds."

Incorporated in October 1992 as a member of Ceylinco Consolidated, Seylan Merchant Bank Limited is registered by the Central Bank of Sri Lanka as a Registered Finance Leasing Establishment under the Finance Leasing Act No. 56 of 2000. Its subsidiaries include Seylan Merchant Leasing Limited, SMB Real Estate (Pvt) Ltd., and SMB Money Brokers (Pvt) Ltd.

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