London Stock Exchange welcomes SL financial community

Tuesday, 6 December 2016 00:38 - - {{hitsCtrl.values.hits}}

Upbeat of “enormous potential” and offers expertise on Govt. projects LSE Group opens
state-of-the-art technology facility at TRACE City in Maradana employing 400

The London Stock Exchange Group (LSEG), yesterday underlined its long term presence in Sri Lanka by calling on the country’s financial community to engage with them and also expressed interest in offering expertise for future Government projects including public-private partnerships.

LSEG yesterday announced the opening of its new state-of-the-art technology facility in Sri Lanka. LSEG Chairman Donald Brydon was upbeat of Sri Lanka’s future and insisted the country has “enormous potential” to attract investment, especially in the IT industry.

Prime Minister Ranil Wickremesinghe and Finance Minister Ravi Karunanayake chat with one of the employees of the new centre of LSEG. Donald Brydon, LSEG Chairman and CEO Xavier Rolet are also present -Pic by Upul Abayasekera

“We have created a technology hub right here in Sri Lanka. Our commitment to this facility and our colleagues here and our significant investment to Sri Lanka demonstrates the enormous potential of this economy and the faith we have in your future,” he told the gathering.

LSEG will directly employ 400 personnel in high-technology jobs, with an additional 1,200 employed indirectly. These employees will be tasked with providing technical support services for the Group’s global network. London Stock Exchange Group has extensive experience of working in Sri Lanka through its global trading and technology business, MilllenniumIT, based in Colombo and Malabe.

“We stand ready to offer our support and our expertise on privatisation of State Owned Enterprises (SoEs), supported by creating complimentary liquidity in London, assistance in infrastructure and the sovereign bond market. We are keen to work with Sri Lanka’s financial community as the country continues to grow and move ahead,” he added.

Headquartered in the TRACE Expert City precinct of Colombo, the new technology hub was opened by Prime Minister Ranil Wickremesinghe and LSEG Chairman Donald Brydon. Finance Minister Ravi Karunanayake and LSEG CEO Xavier Rolet also attended the opening event.

LSEG is an international markets infrastructure business and a leading developer and operator of high performance technology solutions, including trading, market surveillance and post trade systems for over 40 organisations and exchanges, including the Group’s own markets. Additional services include network connectivity, hosting and quality assurance testing. MillenniumIT, GATElab and Exactpro are among the Group’s technology companies.

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