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The Securities and Exchange Commission, Central Bank and the Colombo Stock Exchange will fast track the implementation of a fully integrated CCP mechanism for the financial market.
This will be a joint initiative to be in line with BIS and IOSCO standards, Securities and Exchange Commission of Sri Lanka (SEC) Director General Vajira Wijegunawardane said.
Speaking at the 17th Cross Training Seminar of the Asia- Pacific Central Depository Group (ACG) hosted by Central Depository Systems (CDS) yesterday he said that this will enable our capital market to be reflected on a positive light among foreign institutional investors and also aid our medium term objective of elevating the CSE to MSCI Emerging Market status.
“In the Sri Lankan context on the equity space there exists a settlement risk in the absence of DVP and an asset commitment risk as securities move on T day and settlement of funds is made on T+3.”
“We have been extremely fortunate to have not experienced any settlement failures.”
“In the Government Securities sphere too, the settlement risk exists and certain counterparties do not trade with one another.”
“I am of the view that deepening intra-regional collaboration will reinforce the success and stability of the capital markets and will contribute towards mobilizing capital.”
“In the Sri Lankan context on the equity space there exists a settlement risk in the absence of DVP and an asset commitment risk as securities move on T day and settlement of funds is made on T+3. We have been extremely fortunate to have not experienced any settlement failures.”
“In the Government Securities sphere too, the settlement risk exists and certain counterparties do not trade with one another.”
Courtesy: Daily News 13 May 2015
This will be a joint initiative to be in line with BIS and IOSCO standards, Securities and Exchange Commission of Sri Lanka (SEC) Director General Vajira Wijegunawardane said.
Speaking at the 17th Cross Training Seminar of the Asia- Pacific Central Depository Group (ACG) hosted by Central Depository Systems (CDS) yesterday he said that this will enable our capital market to be reflected on a positive light among foreign institutional investors and also aid our medium term objective of elevating the CSE to MSCI Emerging Market status.
“In the Sri Lankan context on the equity space there exists a settlement risk in the absence of DVP and an asset commitment risk as securities move on T day and settlement of funds is made on T+3.”
“We have been extremely fortunate to have not experienced any settlement failures.”
“In the Government Securities sphere too, the settlement risk exists and certain counterparties do not trade with one another.”
“I am of the view that deepening intra-regional collaboration will reinforce the success and stability of the capital markets and will contribute towards mobilizing capital.”
“In the Sri Lankan context on the equity space there exists a settlement risk in the absence of DVP and an asset commitment risk as securities move on T day and settlement of funds is made on T+3. We have been extremely fortunate to have not experienced any settlement failures.”
“In the Government Securities sphere too, the settlement risk exists and certain counterparties do not trade with one another.”
Courtesy: Daily News 13 May 2015
