Jaffna gets bourse savvy

*Daily turnover increases to Rs 4.6 m

*Public comfortable with online trading

Charumini de Silva

The Colombo Stock Exchange (CSE) Jaffna branch has performed remarkably well since April last year. It has recorded an average daily turnover of Rs 2.6 million in 2010. The Jaffna branch has improved its daily turnover for this year to Rs 4.6 million as at end February, a Colombo Stock Exchange official told Daily News Business.

The total number of new CDS accounts opened last year was 640 and the total number of new accounts opened as at end February accounted to 427.

The total number of new Central Depository System (CDS) accounts opened this year is 1,067. Capital Trust Securities (Pvt) Ltd Director Sarath Rajapaksa said the Jaffna branch is picking up business in an impressive manner.

A number of CDS accounts have been opened in Jaffna operations. The team of Capital Trust Securities has conducted several seminars and has attracted many customers.

The performance of the Jaffna branch is commendable as a newly opened branch. The team has encouraged most of our clients for online trading as well since it helps investors to be connected to the market wherever they may be in the world.

The awareness programs conducted by the company, CSE and SEC have improved the knowledge of investors in the Jaffna peninsula.

“Companies are in collaboration with other private entities in promoting laptop facilities and internet facilities,” he said.

Rajapaksa said with the improvement in transport facilities to Jaffna more human resources from Colombo could travel to the Northern province to encourage investors in the province.

“With the growth of the branch at present, we could expect that the branch will be further expanded as the number of clientele improves,” he said. Bartleet Mallory Stockbrokers Director Sujeewa Peiris said there is a significant increase in its business since the commencement.

The company has shown a growth in terms of the number of CDS accounts opened, generating of turnovers, and volumes. At present, the company is expanding their investor base off the Jaffna town.

It is important to expand further off the Jaffna town and find large-scale investors who like to invest in the capital market. The company has recruited more employees and investment advisors to the company, Peiris said.

The number of online tradings has increased commendably and the number of investors registering under the online trading system also shows a growth.

“The Jaffna public is comfortable with the online trading system,” Peiris said.