21 May 2011

Several Global Players Respond to Sri Lanka Commodity Exchange

20th May 2011, www.lankabusinessonline.com

Sri Lanka's securities regulator has got responses from several 'big global players' for a request for proposal to set up an exchange to trade spot and futures contracts in commodities and other assets, an official said.

"The response is very encouraging and it reflects the growth potential of the country and the interest some of the big global players," Malik Cader, director general of Sri Lanka's Securities and Exchange Commission told LBO.

Cader said there were "over half a dozen" response from big foreign players from several regions but declined to name individual parties as a process of selection involving a technical evaluation and tender board was under way.

The deadline for proposals to set up 'multi-asset' class exchange ended in April 29 and the egulator has also called for applications for a consultant to assist in evaluating proposals with a closing date of May 27.

Sri Lanka already has a stock exchange which also deals in listed debt.

Related Info :

Sri Lanka Calls for Proposals to Set up a Multi Asset Commodities Exchange for Spot & Forward Markets

Sri Lanka Tops Returns for Equity Markets around the World in 2010

Sri Lanka Performs better than BRIC Economies. Smart Money Highlights Investing in Smaller Emerging Markets

Colombo Stock Exchange to Start Gold ETF Trading in 2011

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