Making her first visit to the Colombo Stock Exchange (CSE), the Chief Executive Officer of the World Federation of Exchanges (WFE) Ms. Nandini Sukumar commended the special relationship between the two organizations and stressed on the important contribution made by the CSE to regional capital market development. Her visit aims to further strengthen the relationship between CSE and WFE and will also offer the Federation’s insight on strategic initiatives pursued by the CSE.
Speaking at a Market Opening Ceremony organized to honour her visit, she said “I see the CSE and its engagement with the WFE as a metaphor for the success of WFE. When I see the exchange participating with the WFE more and more, I feel that we are doing the right things and that we are on the right track when serving our members. You’ve been a part of our history and you are a part of our future.” She added that CSE has been an incredibly dynamic exchange and supportive of other exchanges in the region.
Commenting on the role of exchanges in emerging economies she went on to state “In countries such as Sri Lanka, exchanges are particularly important. An exchange at the heart of the market like it is here, has a far wider more systemic and more profound role that visibly translates into growth and development. We see first-hand what a difference we can make in daily life and through our working lives. ”
The Chairman of the CSE Mr. Ray Abeywardena speaking at the event welcomed Ms. Sukumar to the CSE and thanked the WFE for opportunities and assistance provided to the CSE over the years. He also congratulated Ms. Sukumar on a successful WFE General Assembly & Annual Meeting hosted in Bangkok, Thailand earlier this month. He noted that the WFE has been instrumental in offering the CSE a pathway to engage, collaborate and learn from other markets and more developed peers.
Established in 1961 and headquartered in London, WFE is the global industry association for exchanges and clearing houses and represents over 200 market infrastructure providers. The CSE obtained WFE membership in 1998 and was its first South Asian member.
WFE exchanges are home to nearly 45,000 listed companies, and the market capitalisation of these entities is over $67.9 trillion; furthermore, around $84.18 trillion (EOB) in trading annually passes through the infrastructures WFE members safeguard (at end 2016).
WFE is the definitive source for exchange-traded statistics, and publishes over 350 market data indicators. Its statistics database stretches back more than 40 years, and provides information and insight into developments on global exchanges. As an industry trade organisation, the WFE has discussed virtually every aspect of the capital market: the technical, the commercial, the legal and the economic.
(L-R) CSE Chief Regulatory Officer Mr. Renuke Wijayawardhane, CSE Chief Executive Officer Mr. Rajeeva Bandaranaike, WFE Chief Executive Officer Ms. Nandini Sukumar, CSE Chairman Mr. Ray Abeywardena and CSE Director Mr. Shanil Fernando
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