CDS to host regional training seminar for depositories

Monday, 11 May 2015 13:15 - - {{hitsCtrl.values.hits}}

Central Depository Systems Ltd. (CDS), a fully-owned subsidiary of the Colombo Stock Exchange (CSE), will host the 17th Annual Cross Training Seminar of the Asia-Pacific Central Securities Depository Group (ACG) in Colombo on 12 and 13 May. This will be the first time the CDS will host the Cross Training Seminar.

The ACG Cross Training Seminar is a yearly event hosted by an ACG Member, planned and managed by the host Member and the ACG Task Forces, with the intention of facilitating exchange of information among working level attendees of member institutions. In the two-day Conference, the Host Depository and Task Forces will have sessions on pertinent areas of interest.

Currently, the ACG acts as a regional alliance and its membership structure includes 32 depositories and clearing organisations from 23 member countries across Asia.

CDS obtained membership in the Asia-Pacific Central Securities Depository Group in 1998. The CDS is also a member of the Technical Task Force of the ACG and works closely with the National Securities Depository Ltd. of India, which is the convener of the Technical Task Force.

“The CDS is an integral part of the Exchange infrastructure of the CSE, facilitating the clearing and settlement functions of the Colombo Stock Exchange. As we move into a new era of stock market related technological and operational functions, it is more vital than ever to share knowledge and best-practices in order to keep abreast of the changing needs of capital markets. Therefore we see conferences of this nature as a prudent resource for the interchange of ideas and experiences,” Chief Operating Officer Renuke Wijayawardhane said.

“We are very pleased to host the delegates of the ACG Cross Training Seminar, for the first time in Sri Lanka. The CDS was one of the first depositories in Asia, when we began operations in 1991, since then we have taken an active interest in promoting cooperation between depositories in the region facilitating interchange of knowledge among depositories,” Head of the CDS Nalin Fonseka said.