The Colombo Stock Exchange (CSE) on launched the S & P/CSE Sector and Industry Group Indices in collaboration with world's leading index provider S & P Dow Jones indices yesterday.
The comprehensive index series is designed to measure the performance of various sectors and industry groups within the Sri Lankan equity market as defined by the Global Industry Classification Standard (GICS)
The S &P /CSE sector and industry group indices were developed based on the universe of common stocks listed on CSE. The index family includes 10 sector indices such as S & P/CSE Energy, Materials, Industries, Consumer Discretionary, Consumer Staples, Health Care, Financial Sector, Information Technology, Telecommunications and Utilities.
CSE Chairman Vajira Kulatilake speaking at the launch of the indices said the CSE is moving towards global industry classification standards in order to make it a regional hub. "This is an important step to internationalise the stock market and the indices will elevate visibility of Sri Lankan equity market through the launch of this benchmark series by leveraging S & P Dow Jones indices expertise in index development and governance,"he said.
Kulatilake also added that as part of CSE's ambitious plans to make it a region hub and bring in best global practices, the CSE is moving ahead with Central Counter Party System (CCP).
He said CSE expects to launch the CCP in the first quarter of 2017 provided all the necessary regulations are in place.
The comprehensive index series is designed to measure the performance of various sectors and industry groups within the Sri Lankan equity market as defined by the Global Industry Classification Standard (GICS)
The S &P /CSE sector and industry group indices were developed based on the universe of common stocks listed on CSE. The index family includes 10 sector indices such as S & P/CSE Energy, Materials, Industries, Consumer Discretionary, Consumer Staples, Health Care, Financial Sector, Information Technology, Telecommunications and Utilities.
CSE Chairman Vajira Kulatilake speaking at the launch of the indices said the CSE is moving towards global industry classification standards in order to make it a regional hub. "This is an important step to internationalise the stock market and the indices will elevate visibility of Sri Lankan equity market through the launch of this benchmark series by leveraging S & P Dow Jones indices expertise in index development and governance,"he said.
Kulatilake also added that as part of CSE's ambitious plans to make it a region hub and bring in best global practices, the CSE is moving ahead with Central Counter Party System (CCP).
He said CSE expects to launch the CCP in the first quarter of 2017 provided all the necessary regulations are in place.
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