CSE branches:

Daily turnover increases

Charumini de Silva

The branch network of the Colombo Stock Exchange (CSE) has recorded a significant growth during the last year The average daily turnover during the last year in the Negombo branch was Rs 40.26 million. The branch recorded Rs 5.56 million in 2009 and this is an increase of 624 percent.

The average daily turnovers of the other branches were; Kandy Rs 54.91 million, Matara Rs 52.37 million, Kurunegala Rs 21.39 million and Jaffna Rs 1.39 million. Of the total five branches; four branches recorded a growth of over 200 percent.

The average daily turnover of the Kandy branch accounted to a 501 percent growth, which in 2009 was Rs 9.14 million. The Matara branch showed an improvement of 438 percent. This is an increase of Rs 42.63 million compared to 2009. Kurunegala branch daily turnover grew from Rs 5.80 million in 2009 to Rs 21.39 million during the last year.

The branch also showed a 269 percent growth in its' daily turnover.

The branch network of the CSE has contributed to 7.1 percent of the total market turnover of the Colombo stock market in 2010. Branches provide online access to the stock market and offer a range of stock brokering services, which includes order acceptance and online order execution, settlements, investment advice, pre-trade and post-trade documentation.

The CSE conducts educational and awareness programs on 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 participate.

The CSE has four branch offices in the Southern, Central Western, Western and North Western provinces.

The fifth branch of the CSE was opened in Jaffna in April last year. Speaking at the recently held Road Map for the Capital Market the Securities and Exchange Commission of Sri Lanka (SEC) Chairperson, Indrani Sugathadasa said that all five existing branch offices of the CSE have performed noteworthily during 2010.

She said the SEC would like the CSE and stockbrokers to venture more into other areas and especially to the East.

The Chairperson told Daily News Business that the amendments of the SEC Act would be completed by the end of this year. She said the completion of the SEC Act would strengthen the structure and the functioning of the Colombo stock market.