The South Pacific Stock Exchange (SPSE) and the Colombo Stock Exchange (CSE) has signed a Memorandum of Understanding (MoU) to establish a collaborative relationship between the two exchanges seeking mutual development opportunities in the Fijian and the Sri Lankan capital markets.
A MoU enables the two exchanges to work together and learn from each other’s experiences. Given that most stock exchanges are unique in their countries, such cross-border collaboration and exchange of information and knowledge can enhance market development. These benefits can be particularly important for activities that often fall exclusively to securities exchanges in any given country, such as investor awareness initiatives, advancing trading and settlement and integrating market data with website development.
The potential forms of cooperation between SPSE and CSE can help the two institutions to become the preferred securities exchanges in their respective regions.
Because CSE is a larger, more developed exchange, it presents an ideal partnership opportunity for the SPSE to gain greater insight about technological advancements.
The particular MoU includes provisions to encourage exchanging information about market development efforts, regional cooperation and expansion initiatives and the use of information technology systems to enhance ease of doing business in both jurisdictions.
The MoU also can facilitate staff secondments to further explore ways to share knowledge and means to develop the respective exchanges further.
On the signing of the MoU with CSE, SPSE CEO, Krishika Narayan said that “this signing of the MoU is a milestone achievement for SPSE as this is going to establish a framework for collaboration between SPSE and CSE and express the common goals of the two institutions inaugurating a pathway towards the success of both institutions.”
“SPSE is a progressive organisation and our intention is to optimise our operational capacity which we believe can be significantly enhanced through fostering professional relationships with institutions with similar intent.”
Rajeeva Bandaranaike, the CEO of CSE said “the MoU with SPSE further strengthens our collaborative effort with peer exchanges in the Asia-Pacific region and opens up new possibilities for CSE.”
“We look forward to an engaging and mutually beneficial relationship with SPSE. We anticipate that the MoU will pave the way for CSE to build fruitful relationships with key stakeholders in the Fijian capital market.”
Through this collaboration effort both the Exchanges envisage further growth in their respective capital markets and look forward to fostering a propitious business relationship going forward.
Add new comment