CSE branch network performing well

Charumini DE SILVA

The Branch network of the Colombo Stock Exchange (CSE) has recorded an exceptional growth during this year with three branches recording over 300 percent growth in turnover and one branch recording a growth of over 188 percent.

The average daily turnover during first six months of this year in Matara branch is Rs 41.32 million, Kandy is Rs 39.39 million, Rs 16.73 million in Kurunegala branch while the Negombo branch recorded Rs 28.01 million CSE Business Development Manager Thushara Jayaratne told Daily News Business.

The total turnover in the Matara Branch during first half of this year was recorded as Rs 4711 million and Rs 4490.5 million in the Kandy branch.

The Kurunegala branch recorded as Rs 1907.4 million while the Negombo branch first six month total turnover reported as Rs 3193.1 million. Three branches recorded its highest daily turnover within this year. The Matara branch of the CSE recorded its highest ever daily turnover of Rs 199 million, while the Kandy branch too recorded Rs 87.4 million.

The Negombo branch’s its highest ever daily turnover accounted Rs 73.8 million. Kurunegala branch marked its highest daily turnover of Rs 47.4 million in October last year.

The branch network of the CSE has contributed to 16.3 percent of the local individual turnover of the Colombo stock market in 2010 and seven percent of the total market turnover. During first six months of this year there is a significant growth in opening of new CDS accounts in these branches. Kandy branch has opened 907 new CDS accounts and Kurunegala has opened 449 new accounts.

Matara and Negombo branches have 524 and 437 new accounts during this period. Branches provide online access to the stock market and offer a range of stock brokering services which includes order acceptance and on line order execution, settlements, investment advice, pre-trade and post-trade documentation. The CSE conducts educational and awareness programs investing in the stock market and its developments on a regular basis at branch offices, schools and other institutions in the region, where the public could participate. The CSE has four branch offices in the Southern, Central, Western and North Western provinces. The fifth branch of the CSE was opened in Jaffna in April this year.

The branch office in Matara was opened in 1999 as an Investor Service Centre and became the first regional branch office of the CSE.

At present there are six broker firms operating at the branch. The second branch of the CSE was in Kandy in 2003. This branch has seven stockbroker firms and provides the Central, Uva and Sabaragamuwa Provinces, investors with access to the stock market, trading information and stock broking services.

The Kurunegala branch was established in 2005, while Negombo branch was setup in 2007. Kurunegala branch has six broker firms and five stock brokers in operate at the Negombo branch. The latest CSE branch was in Jaffna with six stock broker firms operate at the branch.

Branch	CDS Accounts Opened (No.)
		2008	2009	2010	
				(Jan to 
				June)
Matara		669	575	524
Kandy		655	1,488	907
Kurunegala	478	441	449
Negombo		663	601	437