CSE introduces an E-statement service to CDS account holders
View(s):The Central Depository System (CDS) which is the depository, clearing and settlement arm of the Colombo Stock Exchange (CSE), will offer all CDS account holders the option of receiving their statements through email from August 1, the CSE said this week.
This initiative is keeping in line with the CSE’s strategy to provide investors with information in the most convenient and efficient manner, it said in an announcement posted on its website.
CDS account holders could subscribe for this service, by filling in a form and submitting it through their respective brokers and thereby discontinue the receipt of a printed statement by regular mail. “An email statement is convenient in terms of storage, accessibility and above all will enable CDS account holders to receive their month end statements in a timely manner. The rules governing the frequency of issuing the CDS statements would remain unchanged and investors will receive updates based on their account activity, either monthly, quarterly or annually,” it said. A number of inconveniences that occur due to returned CDS Statements can also be avoided through the new format of statement dissemination, the CSE said.
“As the CDS, it is our priority to cater to the needs of our customers and provide them their statements in the most efficient and convenient manner possible. Today’s investors are increasingly tech savvy therefore it is vital that they receive information in a manner that is easily accessible,” said Manager Central Depository Systems Nalin Fonseka.