Following the Covid-19 outbreak in Sri Lanka in March 2020, the need to further digitize the operations of the stock market to ensure uninterrupted access, increase investor participation, enhance operational efficiencies and service standards became a top priority. Since the completion of the first phase of digitalization and the launch of the Mobile Application, total app downloads exceeded 65,000 and approximately 17,000 new Central Depository System (CDS) accounts were opened via the mobile app. Moreover, 97% of the total local individual accounts opened were through the app and 84% of the total accounts opened were by those aged between 18 to 40. The app has become one of the fastest growing in Sri Lanka, reaching 21 million smartphones nation-wide. This sharp rise in retail investor participation implies that digitalization of the stock market operations has been able to reach a large section of the more technologically savvy investors.

Source: The Nation July 11, 2021 19:30 UTC