JSE Launches Platform for Electronic Trading of GOJ Bonds

A platform for the electronic listing and trading of Government of Jamaica (GOJ) bonds on the Jamaica Stock Exchange (JSE) has been officially launched.

A joint initiative between the JSE and the Bank of Jamaica (BOJ), the platform transforms the local debt market by offering increased transparency, real-time trading, and easier access for buying and selling securities.

Trading is conducted on the JSE’s Nasdaq Matching Engine platform and settled through the BOJ’s JamClear®-CSD depository and Real Time Gross Settlement systems.

Addressing the launch on March 31 at the Bank of Jamaica (BOJ) downtown Kingston, Minister of Finance and the Public Service, Hon. Fayval Williams, said that the GOJ bond platform “represents a new chapter in Jamaica’s financial story, written in the language of confidence, transparency and ambition”.

She noted that with 16 Government of Jamaica securities carrying a combined face value of $623 billion now listed on the platform, “we’ve taken a transformative step towards a deep and well-functioning domestic bond market”.

“We are expecting that this development and trading of government bonds will reduce interest rates for the government over time. We know that a one per cent reduction in interest rates means several billions of dollars for the Government in terms of reduced interest expense on the debt that we have. And so, I’m really looking forward to the ramping up of the market and for the transparency that will be provided,” Minister Williams said.

She noted that the GOJ bond platform represents an enhancement in the country’s financial system that will further propel Jamaica on the world stage.

“For too long, Government of Jamaica securities were held primarily to maturity and traded through primary dealers in a fragmented and opaque process. There was no true secondary market, no price discovery, and consequentially, limited investor participation. Today, that changes,” she said.

The Minister thanked the teams from the Ministry, BOJ, JSE, the Bankers Association, Jamaica Security Dealers Association, Financial Services Commission (FSC), and other stakeholders for their collaboration on the project.

Group Chief Executive Officer, JSE, Livingstone Morrison, informed that some seven Government bonds, valuing approximately $900 million, have already traded on the platform since it went live on March 25, 2026.

“In 2009, Jamaica built a warehouse; a modern electronic infrastructure for safely holding government securities and settling transactions in real time. For more than 15 years, that warehouse has served the country well but a warehouse without a marketplace is a structure that stores value without unlocking it.

“Today, we have opened that marketplace… the architecture is now complete; let us now fill it with activity… let us democratise the whole process of owning and holding Jamaican government securities,” he said.

Governor, BOJ, Richard Byles, in his remarks, said the launch of the platform is proof that the local investment environment is continuing to show dynamism despite global economic uncertainties.

“At the central bank, we are committed to playing our part to foster and preserve a climate of stability and predictability and to modernise our financial systems through this and other important advancements,” he said.

He noted that the platform will benefit stakeholders beyond the bond market, including actuaries and auditors in the insurance sector in addition to facilitating monetary policy assessments.

President of the Jamaica Securities Dealers Association (JSDA), Senator Ramon Small Ferguson, also welcomed the initiative, noting that it will enable broader participation by both Jamaican and international investors.

“It really is going to reinforce, I think, the resilience of our financial system and our capital market,” the JSDA President said.