A Memorandum of Understanding (MoU) was signed with the Central Depository Services (India) Limited (CDSL) in May 2017 with the intention of expanding the cooperative relationships.
The MOU will facilitate exchange of information and expertise on various operating models and securities market develop-ments. Both the depositories aim at sharing market insights for mutual prosperity.
“We are sure that this event will result in significant, tangible benefits to both organizations and we will be able to make con-tributions to the securities markets development of Sri Lanka and India through information sharing and mutual communica-tion.” stated Mr. P. S. Reddy, Managing Director & CEO of CDSL.”
Mr. Rajeeva Bandaranaike, Chief Executive Officer of Colombo Stock Exchange said; “The CDSL and the CDS have had a very cordial and close relationship over the years and this MOU will further strengthen the mutual trust and cooperation between the two Depositories.”
The MoU will enable to learn about each other’s regulatory framework and risk-management measures leading the deposi-tories to adopt best practices that would increase efficiency.