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Thursday, November 01, 2012 - 06.17 GMT
Stock brokers welcome changes made by SEC to boost stock market


The Colombo Stock Brokers' Association (CSBA) welcomed the changes made by the Securities and Exchange Commission (SEC) to boost the Colombo Stock Exchange (CSE).

The CSBA stated that the formula of computing credit and pledging to promote the country's capital markets to local and international investors would help regain investor confidence in the CSE.

The SEC relaxed the rules earlier this month on broker credit and lifted the restrictions imposed on short-term trading by directors and workers of stockbroking firms.

The CSBA also pointed out that the net capital calculation formula had resulted in continuous selling which kept the market depressed and inhibited the attraction of retail players to the market.

"As an association we fully endorse the view that recent changes will go a long way to rekindle the market in the short run and create liquidity in the long run and thereby sustain a vibrant market in the future," the Association said.





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Last modified: November 01, 2012.

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