Caribbean news. The recently concluded 9th Jamaica Stock Exchange Conference held at the Pegasus Hotel saw common tone being set with regards to Jamaican and Caribbean investment through the various instruments of the Caribbean Stock Exchanges, which will open up a number of opportunities for Diaspora investment.
This conference’s tone came at an ideal time for Jamaica and the entire Caribbean, as the region faces server liquidity and Foreign Direct Investment (FDI) challenges, sighted Denis St. Bernard, director of the Caribbean Enterprise Network UK (CENUK) / Priority Group.
St. Bernard, who was one of the moderators of the Conference and used the platform to highlight the fact that collectively the Caribbean Stock Exchanges would be a potent force in securing the required global funding to assist growth throughout the region, along with giving persons in the UK Caribbean Diaspora various investment opportunities both from the supply sides, those wanting to list their companies on the various Caribbean Exchanges (CXN) and on the demand side, those wanting to invest in these various companies listed on exchanges.
He commended the presence of the other Caribbean Stock Exchange (CXN) heads, namely Trevor Blake head of the Eastern Caribbean Stock and Securities, along with Mr. Blenman and Ms. Donna Hope, Senior Managers of the Barbados Stock Exchange.
This augers well, as the global investors are looking for a regional footprints as a basis for extending facilities and investments, as this gives a better spread and risk profile’ said St. Bernard.
General manager of the Jamaica Stock Exchange, Mrs. Street-Forest confirmed that strides are being made to firm up the Caribbean Exchange Network (CXN) which would pave the way towards having a more dynamic and efficient access to securities by all Caribbean Brokers and investors.
She informed participants at the Conference that the technology is ready, the regulatory framework is in place and the stock exchanges are all committed.
The last leg is that of the registration of the brokers with the securities exchange commission. We expect that this will be a reality within the first half of 2014.
Linkage with the Global Exchanges
Mr. St.Bernard who is based in the UK has established linkages with the London Stock Exchange (LSE), with whom he meets monthly, in his capacity as Liaison Officer for the JSE, confirmed that the LSE has already expressed some commitment to assist our regional exchanges in accessing global markets, but there is still a lot of work which needs to be done at the regional end, he ended.
