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Alternative Market Briefing

Jamaican Stock Exchange to allow Cryptocurrency trading

Thursday, August 16, 2018

Laxman Pai, Opalesque Asia:

The Jamaica Stock Exchange (JSE) has announced it plans to allow investors the ability to trade cryptocurrencies through the regulated stock exchange. According to the JSE, the Canadian-based Blockstation will help facilitate the crypto-trading services.

Upon implementation of the project, JSE will provide trading, quotes, execution, and settlement services for cryptocurrencies and tokens.

The press release claims that this collaboration has the potential to make the JSE one of the first international stock exchanges to offer an online digital trading platform facilitating quotes, trading, and execution and settlement services while adhering to all regulations and compliance laws.

Blockstation's electronic communication network and order management system is intended to allow investors to "facilitate trading, clearing and settlement of blockchain tokens for its broker-dealers and their investing clients" within a trusted and secure platform.

Kirk Brown, Head Trader for the broker member Sagicor Investments of the JSE, underlined the importance for investors "to be able to invest in digital assets through their traditional financial institutions."

Marlene Street Forrest, Managing Director of the JSE said: "We are very comfortable moving forward based on the training and support provided by Blockstation, and because their trading platform incorporates familiar compliance rules to ensure a fair marketplace."

The JS......................

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