England is not only praising the Caribbean Cricketers as T20 Champions, but also recently praised the Caribbean Exchange for producing the best performing Stock Exchange in the world via the Jamaica Stock Exchange (JSE).
At a recent meeting with the London Stock Exchange (LSE) and the Caribbean Enterprise Network (CEN), the Jamaica Stock Exchange (JSE) came in for high praise for its continuous bullish performance in recent years, culminating with the deserved distinction of being named the best performing exchange in 2015. ‘This is no easy feat sighted Mr. Ibukun, Head of Capital Markets (Emerging Economies) at the London Stock Exchange Group (LSEG).
ON THE RIGHT TRACK
CEN who has an MOU (Memorandum of understanding) with the JSE to maintain Diaspora and global relationship with key players and prospects in an effort to keep the flag flying locally, regionally and globally.
The CEN Executive Team which comprised Director of Operations Denis St.Bernard, along with 2 other Directors Dr.Nigel Williams and Del Attah had meaningful discussions regarding areas which the LSE could assist and work with the JSE, CXN and Caribbean businesses going forward.
The stock exchanges in Jamaica, Barbados and Trinidad and Tobago will be migrating to a new web trading platform this year that will bring the exchanges closer together with the option of integration, this step along with the LSE will make a major difference to the entire region in creating greater capacity which places the region in a position to attract major investments, Foreign Direct Investments (FDIs), while attracting the sort of positive global attention started in 2015 which has now placed Jamaica and Caribbean as a potential player on the world investment stage, explained Dr. Williams.
MOVING TO A SINGLE EXCHANGE
“From a technical standpoint we can, if and when determined, move to an integrated platform through a single order book, The technology makes a single exchange doable ” said Street Forrest. “We will migrate to the new platform towards the end of the year, in around November or December,” said Street Forrest. Street Forrest said STT’s platform meets all the requirements of the three exchanges while providing lower cost of ownership and opportunities for greater collaboration and economies of scale.
The cost of the new platform was not disclosed, but the JSE boss said neither traders nor investors will see an increase in charges or fees as a result of the switch to a new provider. The new system will b CENe a Web-based interface. It allows for the trading of multiple asset classes from a single interface and to add new products quickly. Closer cooperation between the JSE and the LSE can support the mobilization of diaspora capital as we move beyond remittances to sustainable investment. Author CEN (www.cenuk.net)
