March 1, 2006
Caribbean exchanges are considering integration.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.
"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."
The creation of a Caribbean Single Market and Economy has lent impetus to the idea of an integrated stock market for the region.