The Colombo Stock Exchange has requested a root cause analysis from the System provider, Iron One Technologies Pvt. Limited regarding a disruption to the order management system provided to four Stockbroker firms during trading today, which resulted in trading difficulties to clients of these firms.
System providers are an integral element of a technologically driven, smoothly functioning capital market, especially in the perspective of investor accessibility.
The CSE therefore stresses the importance of system providers taking all possible proactive and preventative measures to provide seamless services and access to investors.
The exchange did not view completely limiting market access to local and international investors via a trading halt as a viable response to system difficulties faced by one system provider.
The CSE would like to reiterate that close supervision and monitoring of System providers would be done on a continuous basis.
Furthermore, CSE also wishes to categorically state that a WhatsApp message being circulated alleging CSE manipulation in today’s trading is completely false and misleading.
Colombo Stock Exchange (CSE):
The Colombo Stock Exchange (CSE) operates the only stock market in Sri Lanka and is responsible for providing a transparent and regulated environment where companies and investors can come together. The CSE is a company that is limited by guarantee established under the Laws of Sri Lanka.
The CSE is licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and is a mutual exchange consisting of 15 Members and 13 Trading Members. All Members and Trading Members are licensed by the SEC to operate as Stockbrokers. For more information, please visit: www.cse.lk.