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Message: <blockquote data-quote="sherlock" data-source="post: 11021811" data-attributes="member: 106046">CSE hires Indian consultants to help introduce a Risk Management Model CSE hires Indian consultants to help introduce a Risk Management Model (Pic:sg.finance.yahoo.com)  The Colombo Stock Exchange has appointed the National Stock Exchange of India as a consultant to help implement a progressive Risk Management Model in the CSE.  The CSE says, the task of the National Stock Exchange of India will be implementing a Risk Management System and a Delivery Versus Payment system for the settlement of all Secondary market transactions in equity securities traded on the bourse.  “DVP is one of the best practices advocated by the International Organization of Securities Commissions and is a mechanism which is effective in minimizing risk”, added a CSE statement published on its website.  It says once DVP is placed, both the ownership transfer and payment for securities will occur simultaneously, thus minimizing risk.  The system will come into place in mid 2012 and is expected to be the first step towards transforming the CSE into a modern exchange on par with the most developed global exchanges.  Chairman CSE, Krishan Balendra speaking on the new initiative says, “The introduction of a progressive risk management model will certainly aid the transformation of the CSE”.  He also added, “In addition to size and liquidity, post-trade risk mitigation features prominently on leading market index selection criteria. As a frontier market, our transition to the more accepted emerging market level depends on these enhancements”.  Joint Managing Director NSE, Ms. Chitra Ramkrishna said, ” We will assist CSE in setting up market infrastructure and implementing global best practices that enables CSE to further strengthen market safety and integrity”.  She says this will help CSE to establish a platform to offer globally bench marked products and services.  The National Stock Exchange of India located in Mumbai, is the largest exchange in India, by daily turnover and number of trades, for both equities and derivative trading.</blockquote>

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