The Colombo Stock Exchange (CSE) implemented the Delivery Versus Payment (DVP) settlement mechanism on August 16.
The Open Auction call session of the CSE was from 12.15 pm to 1.00 pm.
The pre-open was extended to provide more time for order entry in view of the transition to the upgraded systems. The Open Auction was at 1.00 pm and Regular Trading commenced thereafter. The commencement of the pre-open session was delayed due to one Broker system vendor having technical difficulties in connecting to the exchange.
The CSE decided to postpone the market opening until the system vendor was normalised, thereby giving the chance for all market participants and investors to participate in the trading session given the importance of the transition to the DVP environment.
The CSE will investigate the vendor’s issues and will take action to prevent a recurrence.
The market closed at 2.30 pm recording a turnover of Rs 834.43 million within a limited period of 90 minutes.