World Federation of Exchanges CEO visits CSE
Making her first visit to the Colombo Stock Exchange (CSE), World Federation of Exchanges (WFE) Chief Executive Officer Nandini Sukumar commended the special relationship between the two organisations and stressed on the important contribution made by the CSE to regional capital market development.
Her visit aims to further strengthen the relationship between the CSE and WFE and will also offer the federation’s insight on strategic initiatives pursued by the CSE.
Speaking at a Market Opening Ceremony organised to honour her visit, she said, “I see the CSE and its engagement with the WFE as a metaphor for the success of the 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 part of our history and you are part of our future.”
She added that the 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.”
CSE Chairman Ray Abeywardena speaking at the event welcomed Sukumar to the CSE and thanked the WFE for opportunities and assistance provided to the CSE over the years.
He also congratulated Sukumar on a successful WFE General Assembly and 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, the WFE is the global industry association for exchanges and clearing houses and represents over 200 market infrastructure providers. The CSE obtained the WFE membership in 1998 and was its first South Asian member.
The WFE exchanges are home to nearly 45,000 listed companies and the market capitalisation of these entities is over US $ 67.9 trillion. Furthermore, around US $ 84.18 trillion (EOB) in trading annually passes through the infrastructures the WFE members safeguard (at end-2016).
The 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: technical, commercial, legal and economic.