Commodity exchange process underway
The introduction of the commodity exchange to Sri Lanka’s capital
market is at an early stage.
The Securities and Exchange Commission of Sri Lanka (SEC) has called
for Expressions of Interest (EOI) and proposals for the establishment
and operation of a fully fledged multi asset class commodity exchange.
At present the country’s economy is well stabilized and poised for
growth. The capital market plays a key role in strengthening the
economy. Hence the SEC has invited EOI’s and proposals from eligible
interested parties for the establishment and operation of a fully
fledged multi asset class commodity exchange.
The SEC will decide on the final outcome of the commodity exchange
once they receive the response from the relevant parties. The commodity
exchange is at its early stage and the results could be seen in time to
come, an SEC official told Daily News Business.
The exchange should facilitate spot and future trading of multi-asset
classes and needs to be incorporated as a demutualized limited liability
corporate entity. It should also adhere to global practices and
standards accommodate all necessary components of a commodity exchange
including mechanisms for clearing and settlement of the instrument
traded. CdeS
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