The East Caribbean Stock Exchange (ECSE), based in St Kitts,
has state-of-the-art trading technology, but after five months
in business it still has only two listings. Even so, the
exchange hopes to attract listings from companies throughout
the Caribbean and grow into a regional stock market.
The ECSE boasts the most sophisticated technology in the
region. It has the only electronic trading system that can
settle trades in one day. It has a centralized depositary
system, so unlike other Caribbean stock markets, it does not
require investors to hold securities certificates as proof of
ownership. Its online information source on publicly held
companies, called the Eastern Caribbean Securities Information
Network (ECSIN), is equivalent to the US Securities and
Exchange Commission's EDGAR system.
Baljit Vohra, the exchange's general manager, says forlornly
that since the market opened, its four broker-dealer firms have
traded only 50,000 shares totaling EC$240,000 ($100,000) in the
two listed companies....
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