A regional stock exchange needed — NCB's Stanley Thompson


A regional stock exchange needed — NCB's Stanley Thompson

Business reporter

Friday, January 24, 2020

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With the Jamaica Stock Exchange (JSE) painted as the poster child for success in global spheres, calls are now being made for the development of a regional platform, so as to expand offerings to people in the Caribbean and across borders.

Speaking at the 15th Regional Investment and Capital Markets Conference staged by the JSE Wednesday last, Stanley Thompson, manager of origination and structuring of National Commercial Bank (NCB) Capital Market said that he hopes for this objective to be achieved over and into the next decade.

“Fifteen years from now I hope that we are talking about a regional stock exchange and not just a Jamaican stock exchange,” he said.

He pointed out that one of the greatest challenges experienced, is the fact that while there are opportunities existing right across the region, there tends to be one exchange doing better than the other at different times.

He reasoned that people across the region may want access to what is happening wherever the opportunities exist and as such there becomes a greater need for full integration.

“We want to see persons irrespective of their location in the Caribbean, whether Trinidad, Barbados, St Lucia participating and in one exchange. What this will do is give issuers access to a wider capital base as there now becomes a larger platform for transactions and more importantly greater integration,” he opined.

In referring to the work currently being done by the JSE and the Canadian Stock Exchange (CSE) to allow for cross listing and have people from the Diaspora participate directly in what's happening locally, he still wishes for the development of a regional platform.

“I want to see a regional stock exchange and persons in the region and the Diaspora or wherever being able to participate in what is happening locally,” he stated.

John Ligouri chief investment officer at Jefferies — a global investment banking firm said that the region based on its growth and maturity over the years has every potential of making progress in this area.

“The very progress that the region has demonstrated over the last couple of years especially in Jamaica lends credibility to the region's ability to become a more dominant player in international capital markets to invest in opportunities even outside of the region,” he added.

He commented that with the improved rates of interest that are now seen in the markets, the chance of making this a reality becomes even more possible.

“I think the opportunity for the region is to continue to do what they're doing and their success will offer additional opportunities to grow and expand and build on what has been accomplished thus far,” he closed in saying.

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