London Stock Exchange Group signs MoU with CSE | Sunday Observer

London Stock Exchange Group signs MoU with CSE

CEO, London Stock Exchange Nikhil Rathi exchanges the agreement with CEO, CSE, Rajeeva Bandaranaike. Standing (from left): Chairman, CSE, Ray Abeywardena; Chairman, SEC, Ranel T. Wijesinha;  Governor, Central Bank Dr. Indrajit Coomaraswamy; UK Minister of State for Asia  and the Pacific, Mark Field;  High Commissioner of Sri Lanka in  the UK, Manisha Gunasekara;  Group Head of Shared Services Centres and Head  of LSEG Technology Sri Lanka, Dee Liyanwela.
CEO, London Stock Exchange Nikhil Rathi exchanges the agreement with CEO, CSE, Rajeeva Bandaranaike. Standing (from left): Chairman, CSE, Ray Abeywardena; Chairman, SEC, Ranel T. Wijesinha; Governor, Central Bank Dr. Indrajit Coomaraswamy; UK Minister of State for Asia and the Pacific, Mark Field; High Commissioner of Sri Lanka in the UK, Manisha Gunasekara; Group Head of Shared Services Centres and Head of LSEG Technology Sri Lanka, Dee Liyanwela.

* Establishes framework for LSEG and CSE to enhance domestic and international debt capital markets in Sri Lanka

* Follows $2.4 billion London listing of Sri Lanka’s off-shore bond

The London Stock Exchange Group (LSEG) signed a landmark Memorandum of Understanding (MoU) with the Colombo Stock Exchange (CSE) last week to facilitate further collaboration between the two Groups.

The signing ceremony at the London Stock Exchange Group’s office in London, was attended by UK Minister of State for Asia and the Pacific,Mark Field; High Commissioner of Sri Lanka in the UK, Manisha Gunasekara; Governor, Central Bank of Sri Lanka, Dr. Indrajit Coomaraswamy; Chairman, Securities and Exchange Commission of Sri Lanka (SEC), Ranel T. Wijesinha; Chairman, Colombo Stock Exchange, Ray Abeywardena; CEO, Colombo Stock Exchange (CSE), Rajeeva Bandaranaike; CEO, London Stock Exchange Plc and Director of International Development, LSEG, Nikhil Rathi and Group Head of Shared Services Centres and Head of LSEG Technology Sri Lanka, Dee Liyanwela.

The MoU will enable LSEG to support the CSE in the development of the domestic debt market including the market for offshore Sri Lankan rupee bonds; LSEG Technology support in upgrading capital market infrastructure and delivering technology solutions to the CSE; FTSE Russell guidance in capital market classification and index inclusion; and improving links to international Central Securities Depositaries (iCSD).

CEO, London Stock Exchange Nikhil Rathi said, “We are honoured to host Sri Lanka’s $2.4 billion off-shore US dollar bond on London Stock Exchange’s International Securities Market. The success of this issuance reflects the international investor community’s continued support for Sri Lanka.”Chairman of CSE, Ray Abeywardena said, “The foray that we are jointly forging today is an extension of that relationship. The scope of the MoU paves the way for a number of new avenues of cooperation between the CSE and LSEG along with our respective depositories and will immensely advance CSE’s visibility and connectivity to international markets.” Minister Mark Field said, “London’s strengths as the world’s leading financial centre are of course well known. This listing and Memorandum of Understanding between London Stock Exchange Group and Colombo Stock Exchange serves both to underline that position and to highlight the strength and breadth of our relationship with Sri Lanka.”

The MoU follows the listing of Sri Lanka’s $2.4 billion off-shore US dollar bond on London Stock Exchange’s International Securities Market in March 2019. Proceeds of the issuance will be utilised towards servicing Sri Lanka’s debt obligations and improve its foreign reserves.

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