Sri Lanka, Sydney stock exchange tie-up mulls cross listing, trading
ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange (CSE) and the Sydney Stock Exchange (SSX) recently entered into an agreement for mutual development that will explore possibility of cross listing and trading.
A statement said the memorandum of understanding between the CSE and SSX was inked during a visit by a Sri Lankan team for the Invest Sri Lanka Forum that took place in Sydney last week.
It aims “to create new links between Australian and Sri Lankan businesses and capital markets,” the statement 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,” Tony Sacre, CEO of SSX said.
“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 and ETFs,” said Sacre.
Vajira Kulatilaka, Chairman of CSE, said the collaboration with SSX marks an important development for the CSE, as it looks to improve avenues for cooperation and mutual development with peer international exchanges.
“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.”
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.
The exchange provides and develops specialised markets in sectors including resources, oil & 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.
(COLOMBO, March 29, 2017)