Jamaican Investors Can Now Access Shares Traded on the Dutch Caribbean Securities Exchange
By: , November 23, 2022
Photo: Mark Bell
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill (right), looks on as Managing Director, Dutch Caribbean Securities Exchange (DCSX) Dirk-Jan de Graaff (second right), rings a bell signalling the opening of the DCSX and the Jamaica Stock Exchange (JSE), which have collaborated on capital market activities, being facilitated under a Memorandum of Understanding (MOU). Also looking on (from left) are Chief Executive Officer, DCSX, Rene Romer; Managing Director, JSE, Dr. Marlene Street Forrest; and Board Member, DCSX, Walter Blijleven. Occasion was a bell-ringing and MOU signing ceremony at the JSE in Kingston, on Tuesday (November 22).
Photo: Mark Bell
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill (right), looks on as Managing Director, Jamaica Stock Exchange (JSE) Group, Dr. Marlene Street Forrest (second right), signs a Memorandum of Understanding (MOU) facilitating collaboration with the Dutch Caribbean Securities Exchange (DCSX) on capital market activities. Also looking on (from left) are DCSX Managing Director, Dirk-Jan de Graaff and Board Member, Walter Blijleven. The signing took place at the JSE in Kingston, on Tuesday (November 22).The Full Story
Jamaican investors are now able to acquire shares in entities listed on the Dutch Caribbean Securities Exchange (DCSX).
This, following the signing of a Memorandum of Understanding (MOU), facilitating the arrangement between the Jamaica Stock Exchange (JSE) and the DCSX.
The MOU was signed during a Bell-Ringing Ceremony at the JSE in Kingston on Tuesday (November 22).
The partnership will also enable the cross-listing of companies on both exchanges and facilitate greater educational training, via the JSE e-Campus, and leveraging of online trading platforms.
In his remarks, Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, welcomed the arrangement, describing it as one which supports Jamaica’s economy, which, he pointed out, grew by 8.2 per cent in 2021.
Senator Hill, who noted that the Companies Office of Jamaica registered 4,570 new companies and 13,432 business names since January, said this indicated that “business confidence is high, up to 18.3 points [in] September”.
“We’re seeing [that] that’s the highest [out-turn recorded] in about 20 years,” he added.
Meanwhile, Managing Director of the JSE Group, Dr. Marlene Street Forrest, said the MOU allows local investors a “foot into [the] European [markets]”, adding that “[the] DCSX will also have a foot into Jamaica and the other Caribbean islands”.
“The strength of this relationship is the fact that if our smaller exchanges combine externally, it will be seen as a force and people will see it as a place to invest. When you’re smaller, it’s harder to attract capital inflow [and] foreign direct investments. So, joining together with other exchanges in the region is really the way to go,” she said.
For his part, Managing Director of DCSX, Dirk-Jan de Graaff, said focus will be placed on furthering the Exchange’s linkages with international partners, noting that their collaborations have, so far, afforded them access to markets in Latin and South America.
He added that “via our European partnerships, we try to connect Dutch and European capital, not only to our local community but also to our international partners”.
To this end, Mr. de Graff advised that “we are intensifying relationships with other countries in the region [as well as] Colombia, Brazil, and Suriname [among others]”.