MOU signed to collaborate in areas such as digitisation, market education, cross listing and accessing the European markets
The Dutch Caribbean Securities Exchange (DCSX) and the Jamaica Stock Exchange (JSE) have signed a memorandum of understanding to partner on several market initiatives to grow the financial services industry in their respective jurisdictions.
Both stock exchanges will be partnering in areas such as digitisation, market education, cross listing and accessing the European markets.
“The JSE is seeking to continue forging this partnership with DCSX as we pursue our 2025 vision to expand our borders for growth and sustainability,” said JSE Managing Director Marlene Street Forrest.
“We are of the firm belief that as we pursue regional partnerships, we are in a better position to innovate, become more relevant to those outside of our immediate communities for foreign direct investments among other programme and seize global opportunities, which we would not have otherwise captured had we not forged a working relationship.”
Continuing, Street-Forrest thanked the Dutch Caribbean Securities Exchange for “making this journey”, noting that it further cemented the objective of strengthening the linkages in the Caribbean.
“We have Trinidad and Tobago; we have Barbados and Eastern Caribbean and now we have the Dutch Caribbean, and this is exciting,” she declared.
Senator Aubyn Hill, minister of industry, investment and commerce, who was in attendance at the recent Bell Ringing Ceremony, spoke of the Government’s approval of the partnership of DCSX and JSE, and of the Government’s contribution to the expansion of the JSE over the years.
Senator Paula Gopee-Scoon, Trinidad and Tobago’s minister of trade and industry, who was also visiting Street Forrest at the JSE, joined the ceremony and spoke of the partnership that existed between the Jamaican and Trinidadian stock exchanges and of her country’s interest in building on its partnership with the JSE, particularly, with the Junior Market.
In his remarks, DCSX’s Managing Director Dirk-Jan de Graaff said: “We strongly believe that partnering with other stock exchanges builds better for those markets to evolve. The Jamaica Stock Exchange has proven to be very successful in developing a liquid local market. A true example for us in Curacao.
“The Jamaica Stock Exchange has proven to be successful in creating relevant awareness within the local investment community and it is that specific example that we would like to learn from you, to roll that out on the islands of the Dutch Caribbean.”