Mar 1, 2006
The creation of a Caribbean Single Market and Economy has lent impetus to the idea of an integrated stock market for the region.
Now that Caribbean leaders have agreed to establish a regional free-trade zone for goods and services, the next logical step, some argue, is to develop a Caribbean-wide stock exchange to attract institutional investors.
|Caribbean exchanges are considering integration.|
"I think it's critical," says Lyndon Guiseppi, managing director of Trinidad's RBTT Merchant Bank Ltd. "We currently have three major stock exchanges, one each in Jamaica, Barbados and Trinidad. The three combined have less than 100 companies listed, and most of these companies operate throughout the entire region, so while they may be domiciled in Trinidad or Jamaica, it doesn't really matter where they're listed."
Roy Johnson, executive chairman of the Jamaica Stock Exchange, also favors of a Caribbean stock market. "The concept has been under consideration for some time now, but what brings immediacy to the need for action is the new Caricom [Caribbean Community] Single Market and Economy. We have...
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