Webinar on the capital market of the future | Page 2 | Sunday Observer

Webinar on the capital market of the future

1 August, 2021

CFA Sri Lanka will collaborate with Ernst and Young to host a webinar themed, ‘Embracing Technology to Shape the Capital Market of the future’ on Tuesday, August 3, from 3.30 pm to 5.00 pm. 

The Capital Market is a key source of creation of wealth in the country. The Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) in 2020, jointly initiated three phase end-to-end Digitalisation of the Stock Market in Sri Lanka. The intention is to bring innovative technology infrastructure to cover all segments of capital raising to fuel growth, innovation, and development through effective and efficient raising of patient capital to support the national agenda.

President of CFA Society Sri Lanka, Dinesh Warusavitharana said the webinar will help the participants understand the global trends of digitalisation in Capital Markets.The webinar will also address Sri Lanka’s current capital market trends and its focus to adapt technology meaningfully to meet the needs of what comes next. 

The speakers of the webinar include EY Global EM Fintech Leader, Partner - EY Singapore, Varun Mittal, Commissioner Securities Exchange Commission, Sri Lanka and Chairman SEC-CSE Digitisation Committee, Naresh Abeysekera,  Chief Executive Officer, Colombo Stock Exchange, Rajeeva Bandaranaike.

The session will be moderated by Director, CFA Society,  Chamara Gunetileke.

In its drive towards a digitalised Sri Lanka capital market, CSE launched its first phase of the Digitalisation journey in September last year, which included the customer onboarding interface for trade confirmation and execution of corporate actions as its initial offering.

Total app downloads have exceeded 65,000 and approximately 17,000 new Central Depository System (CDS) accounts were opened via the mobile app and said to have become one of the most trending apps in Sri Lanka.

Following the reemergence of Covid-19 outbreak, the need to further digitise the operations of the stock market to ensure uninterrupted access, increase investor participation, enhance operational efficiencies and service standards became a top priority.

As the second phase of the digitalisation journey, CSE is to announce the launch of the new Delivery vs Payment (DVP) system for stock market transactions in the near future which will help minimise the asset commitment risk of sellers and help to innovate introduction of new products.