The introduction of the commodity exchange to Sri Lanka’s capital market is at an early stage.
The Securities and Exchange Commission of Sri Lanka (SEC) has called for Expressions of Interest (EOI) and proposals for the establishment and operation of a fully fledged multi asset class commodity exchange.
At present the country’s economy is well stabilized and poised for growth. The capital market plays a key role in strengthening the economy. Hence the SEC has invited EOI’s and proposals from eligible interested parties for the establishment and operation of a fully fledged multi asset class commodity exchange.
The SEC will decide on the final outcome of the commodity exchange once they receive the response from the relevant parties. The commodity exchange is at its early stage and the results could be seen in time to come, an SEC official told Daily News Business.
The exchange should facilitate spot and future trading of multi-asset classes and needs to be incorporated as a demutualized limited liability corporate entity. It should also adhere to global practices and standards accommodate all necessary components of a commodity exchange including mechanisms for clearing and settlement of the instrument traded.
source - www.dailynews.lk
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