CSE opens tomorrow
The Colombo Stock Exchange (CSE) is to open tomorrow on shortened hours, if the Colombo curfew as planned is lifted.
Officials said the CSE will probably be open for two hours from 10 am to 12 noon.
This came after the Securities and Exchange Commission (SEC) issued a circular outlining a series of measures that would assist the market in complying with certain mandatory regulatory requirements as per the COVID-19 pandemic.
Amongst these, a period of one year is given to settle SEC’s annual licensing/registration fee while the due date for submission of the unaudited financial statements, the Compliance Officers’ Reports and the Unit Trust Returns for the months of March, April and May are extended by three weeks from the stipulated time frame.
The SEC decided to amend the current methodology pertaining to Index-Based Circuit Breakers by introducing a Three Tiered Circuit Breaker structure which is to be attached to the S&P SL20 Index. This new circuit breaker mechanism will take effect from the date the market re-opens and remain in force until further notice notwithstanding anything to the contrary contained in the ATS or the CDS Rules of the CSE or any decision of the CSE that may have been taken in respect of market wide circuit breakers.