CSE unveils e-statement service for CDS accountholders
Thursday, 31 July 2014 00:29
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The Central Depository System (CDS) which is the depository, clearing and settlement arm of the Colombo Stock Exchange (CSE), will offer all CDS accountholders the option of receiving their statements through email. This initiative is keeping in line with the CSE’s strategy to provide investors with information in the most convenient and efficient manner.
CDS Manager Nalin Fonseka
The email statement service will be launched on 1 August and CDS accountholders could subscribe for this service, by filling in a form and submitting it through their respective brokers and thereby discontinue the receipt of a printed statement by regular mail.
Forms can be downloaded through the CSE web site at www.cse.lk, obtained from any stockbroker, picked up from the CSE Public Gallery at the World Trade Centre or at any of the CSE’s regional offices.
An email statement is convenient in terms of storage, accessibility and above all will enable CDS account holders to receive their month end statements in a timely manner. The rules governing the frequency of issuing the CDS statements would remain unchanged and investors will receive updates based on their account activity, either monthly, quarterly or annually.
A number of inconveniences that occur due to returned CDS statements can also be avoided through the new format of statement dissemination.
“As the CDS, it is our priority to cater to the needs of our customers and provide them their statements in the most efficient and convenient manner possible. Today’s investors are increasingly tech savvy; therefore it is vital that they receive information in a manner that is easily accessible. This email statement will ensure that investors receive updates no matter where they are,” Central Depository Systems Manager Nalin Fonseka, announcing the launch of the email service said.
Central Depository Systems Ltd. is a wholly-owned subsidiary of the Colombo Stock Exchange and is the depository for listed securities and is also the clearing and settlement arm of the Colombo Stock Exchange.
