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CSE introduces an E-statement service to CDS account holders

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CSE introduces an E-statement service to CDS account holders

Post by Sriranga on Wed Jul 30, 2014 4:37 pm

Media Release 30th July 2014  

Colombo:

The Central Depository System (CDS) which is the depository, clearing and settlement arm of the Colombo Stock Exchange (CSE), will offer all CDS account holders 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.

The email statement service will be launched on August 1, 2014 and CDS account holders 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 Stock Broker, 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,” Manager Central Depository Systems Mr. Nalin Fonseka, announcing the launch of the email service said.

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 Central Depository Systems (Pvt.) 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.
http://www.cse.lk/cmt/upload_cse_announcements/4421406716053_.pdf

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Re: CSE introduces an E-statement service to CDS account holders

Post by serene on Wed Jul 30, 2014 4:51 pm

Good idea considering the cost and the inefficiency of the some employees of postal dpt.

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CSE introduces an E-statement service to CDS account holders

Post by sashimaal on Wed Jul 30, 2014 5:11 pm

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Re: CSE introduces an E-statement service to CDS account holders

Post by Lux2014 on Wed Jul 30, 2014 6:10 pm

It's high time we all moved to E-Statements. Faster and cost effective too.
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