Enhanced technology, competitive trading:
LSE impressed with Colombo Bourse
Trading at the Colombo (CSE) and the London Stock Exchanges (LSE) has
been excellent. The London Stock Exchange is confident about future
activities in Sri Lanka. London Stock Exchange Information and
Technology Director David Lester told Daily News Business this year is
equally important for Sri Lanka and the UK as the entire world is
recovering from the global economic meltdown.
||* The LSE one
of the largest, most successful and dynamic companies in the
* In October 2007 the exchange merged with Borsa Italiana,
creating Europe’s leading diversified exchange business, London
Stock Exchange Group
* Over 400 firms, mainly investment banks and stockbrokers, are
members of the LSE
“The progress of the CSE last year was outstanding. We are extremely
impressed and confident on the way that the CSE has performed last
year,” he said.
“The main reason for us to select Sri Lanka was that next generation
technology products and services supporting our market is found with
high performance and reasonable charges,” Lester said.
Lester said Sri Lankan IT professionals are well skilled.
The country is much flexible in adopting the latest technology. It is
prepared to compete with any standard.
LSE is keen on participating more widely in Sri Lanka in the future.
From left: London Stock Exchange Chief Financial Officer, Doug
Webb, Council for Business with Britain Chairman, Anil
Wijesinghe, London Stock Exchange IT Director David Lester and
Council for Business with Britain Vice Chairman, Nick Nicolau.
Picture by Saliya Rupasinghe
The conclusion in the acquisition of MillenniumIT and creating an
offshore footprint in the country was a major success for LSE.
“Technology is a key differentiator for exchanges. With enhanced
technologies trading could be done in a competitive and a
straightforward manner,” Lester said. The LSE will install a high-speed
server by September.
It will also install another server in the Italian Stock Exchange by
the first quarter of 2011.
The LSE has the world’s biggest international capital raising
companies. This comprises over 2,500 companies with a large capital of
over US$ two trillion.
“It is a motivating factor to see such reputed and dynamic
investments from Europe strengthening Sri Lankan business,” Council for
Business with Britain (CBB) Chairman, Anil Wijesinghe said.
He was speaking at the Our Journey to Sri Lanka by the LSE, which was
organized by the CBB at the Hilton Colombo Residence yesterday.