CSE and Sydney Stock Exchange move to improve capital market ties

Thursday, 30 March 2017 00:00 - - {{hitsCtrl.values.hits}}

CSE Chairman Mr. Vajira Kulatilaka (seated left) and SSX CEO Tony Sacre at the signing ceremony. Others from left: CSE Director Anton Godfrey, CSE Director Shanil Fernando, CSE CEO Rajeeva Bandaranaike, SSX Deputy Chairman George Wang, SSX General Manager – Listings Joseph Law and CSE Head of Market Development Niroshan Wijesundere

The Colombo Stock Exchange (CSE) and the Sydney Stock Exchange (SSX) recently entered into a memorandum of understanding (MoU) to broaden mutual development and create new links between Australian and Sri Lankan businesses and capital markets.

The agreementwas inked at the backdrop of the Invest Sri Lanka Forum that took place in Sydney last week.

The agreement is intended to foster greater communication between both firms through staff exchange, training and the sharing of information relating to market development and dual listing opportunities.

SSX CEO Tony Sacre said: “The collaboration between SSX and CSE will ensure an active and efficient market as well as enhancing the confidence and integrity of capital markets between Australia and Sri Lanka. This is a good story, as our mission is to solidify a connection between Australian and Asian markets and the rest of the world. Sri Lanka has been an important trading partner for Australia, and this bond is a strong sign of the relationship only continuing to improve. SSX and CSE will explore the possibility of collaborating regarding cross listing and trading of securities including stocks, bonds, ETFs, etc.”

CSE Chairman Vajira Kulatilaka said: “The collaboration with SSX marks an important development for the CSE, as we look to improve our avenues for cooperation and mutual development with peer international exchanges. Our countries share a long history of economic cooperation and we are pleased at the prospect of working with the SSX to broaden investment opportunities for market participants both in Sri Lanka and in Australia.”

The MoU further demonstrates the commitment of both exchanges to the growth of capital markets through cooperation and mutual development, especially in the context of globalisation and internationalisation of markets.

SSXis a securities exchange in Australia with a market licence granted by the Australian Securities and Investments Commission (ASIC). SSX provides opportunities for growth-oriented companies to raise the capital they need for expansion from a diversified range of domestic and international investors, especially from the Asia-Pacific region.

SSX operates its official list of securities as a Main Board, but it has the flexibility that a Second Board provides. The Exchange provides and develops specialised markets in sectors including resources, oil and gas, real estate, technology, agribusiness, services and growth companies.

SSX is a part of the APX Exchange Group, a wholly owned subsidiary of the AIMS Financial Group, an Australian diversified financial services and investment group active in the areas of mortgage lending, securitisation, corporate advice, funds management, property investment and high-tech investment.