July 4, 2011 (LBO) - Sri Lanka is in talks with the London Stock Exchange to become part of its new 'international board' project, Securities and Exchange Commission director general Malik Cader said.
"There is currently a team from London Stock Exchange in Colombo to discuss it," Cader told an economic forum organized by the Ceylon Chamber of Commerce, Sri Lanka's largest business chamber.
The 'international board' project of the LSE plans to give a trading window to at least five other stock exchanges for market intermediaries to trade stocks listed in each others' exchanges.
Last month the head of LSE's director of global development, Tony Weerasinghe invited the Colombo Stock Exchange to join the project at a business forum in Sri Lanka.
Weerasinghe said LSE is in talks with five other exchanges for the international board project.
Cader said the LSE team in Colombo is also meeting finance ministry and central bank officials in addition to the stock exchange and the capital markets regulators.
Cader said Sri Lankans were now allowed to trade in foreign stocks up to a specified limit under relaxed exchange control rules.
Cader said he hoped Sri Lanka would be one of the first to have LSE's system running.
LSE's new trading system was built by MillenniumIT which also supplied Colombo's trading system
source - http://www.lbo.lk/
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