Striving for Critical Mass
As stock markets around the world consolidate, the relatively miniscule Caribbean bolsas are trying to link up. The three biggest hope to pave the way to full regional integration.
Two competing initiatives are underway to try and bring critical mass to Caribbean securities markets. After many years of talking, proponents say a link up will soon become a reality. The first trade on a platform that combines the securities exchanges of Barbados, Trinidad and Tobago and Jamaica could happen this year.
The so-called Caribbean Exchange Network (CXN) is in the final stages of development and was this summer waiting for a final round of talks with the regulators before getting the green light. "We are not just talking. What we promise is what we will deliver," Marlene Street-Forrest, general manager at the Jamaica Stock Exchange (JSE), tells LatinFinance. "D-Day will depend on when approval is given and we are working with our regulators to ensure that we are in compliance with what is required," she adds.
An April 1 2007 target date to unite trading of the three biggest...
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