The Colombo Stock Exchange (CSE) and market intermediaries operated normally but completely based on remote functionality yesterday, with its offices and those of several market intermediary firms being located in areas subject to quarantine curfew.
Following the digitisation of the CSE, preparatory exercises were carried out as part of regular business continuity processes (BCP) along with stockbroker firms, to ensure the ability to conduct market operations remotely.
“The CSE and stockbroker firms are satisfied with the outcome of the BCP exercises, which is a clear indication of the robustness of our systems and its ability to continue uninterrupted stock market operations,” a CSE statement said.
“Our teams follow a process of contingency planning and are geared to ensure that all functions can be performed in the event of any unforeseen circumstances.
The successful remote functionality of today’s trading is a clear indication that as an industry, the business continuity process of the stock market is dynamic and stakeholders could expect uninterrupted functionality and operation of the stock market,” it added.