PM Praises Jamaica Stock Exchange

Photo: Yhomo Hutchinson Prime Minister, the Most Hon. Andrew Holness (right), greets Jamaica Stock Exchange (JSE) Managing Director, Marlene Street Forrest, during the opening ceremony for the 13th Jamaica Stock Exchange (JSE) Investments and Capital Markets Conference at The Jamaica Pegasus hotel in New Kingston on Tuesday (January 23), where Mr. Holness delivered the keynote address. Looking on is Finance and the Public Service State Minister, Hon. Fayval Williams.

Story Highlights

  • Prime Minister, the Most Hon. Andrew Holness, has lauded the Jamaica Stock Exchange (JSE) on its performance in 2017, during which the main market’s listings yielded returns averaging 50 per cent, with the junior market averaging 43.9 per cent.
  • He was delivering the keynote address at the opening ceremony for the 13th JSE Investments and Capital Markets Conference at The Jamaica Pegasus hotel in New Kingston on Tuesday (January 23).
  • Meanwhile, JSE Chairman, Ian McNaughton, indicated that the entity has partnered with the Canadian Depository for Securities (CDS), which will enable local companies to list on Canada’s stock exchange, and vice versa.

Prime Minister, the Most Hon. Andrew Holness, has lauded the Jamaica Stock Exchange (JSE) on its performance in 2017, during which the main market’s listings yielded returns averaging 50 per cent, with the junior market averaging 43.9 per cent.

“That’s amazing. I congratulate the Jamaica Stock Exchange for its stellar performance. It shows that there is confidence in the economy, an appetite for risk and that there is capital (available) for businesses to invest,” Mr. Holness said.

He was delivering the keynote address at the opening ceremony for the 13th JSE Investments and Capital Markets Conference at The Jamaica Pegasus hotel in New Kingston on Tuesday (January 23).

Meanwhile, JSE Chairman, Ian McNaughton, indicated that the entity has partnered with the Canadian Depository for Securities (CDS), which will enable local companies to list on Canada’s stock exchange, and vice versa.

He attributed the forging of this partnership to the JSE’s “excellent governance structure and processes”.

“This will widen the scope for local investors, both individual and institutional, while also allowing those in the diaspora the opportunity to participate in the many growth opportunities that abound. This is a significant accomplishment,” Mr McNaughton said.

JSE Managing Director, Marlene Street Forrest, who advised that a Canadian capital markets delegation is attending the conference, said the Exchange and, by extension, Jamaica, have benefited from the relationships forged with their North American counterparts over the years.

“We hope to rev this up by active and reciprocal participation in both markets,” she said.

Meanwhile, Mrs. Street Forrest said the two-day conference will entail, among other things, presentations and discussions aimed at designing policies and programmes to improve financial market efficiencies.

These measures, she said, are expected to result in expansion of the availability and affordability of financial services and the ease of access to capital, adding that “the sessions… will prove to be educational and informative”.

The two-day conference is being held from January 24 to 25 under the theme ‘Driving Growth: Regional Investments for the Climate of Change’.

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